In the Vinnytsia region additional resource from raising the minimum wage will be used to conduct modernization of pensions,- Rozenko

Additional revenues to the budget of the Pension Fund of Ukraine, as a result of increasing the minimum wage to 3200 UAH will be used for the modernization of pensions. This was in Ivano-Frankivsk, said the Vice Prime Minister of Ukraine Pavlo Rozenko. "Now very acute problem of modernization of pensions. The government is willing to do so, we have specific mechanisms, but this requires additional resource of about 40 billion UAH, he said. And we expect that raising the minimum wage to RS 3200 in both budget and non-budget sector of the economy will increase the income to the Pension Fund that we can use to conduct modernization of pensions". Pavlo Rozenko said that now, despite the budget deficit of the Pension Fund, pensions are paid and will be paid on time and in full. Vice Prime Minister also reminded that in 2017, twice during the year, there will be a increase in minimum pension from 1 may and 1 December. This was reported in the Vinnytsia regional state administration

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Source: http://uzinform.com.ua/

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