The Government liquidated the Social Insurance Fund

What happened? The Cabinet of Ministers merged the Social Insurance Fund of Ukraine with the Pension Fund.

Source. Denys Shmyhal, Prime Minister of Ukraine, at a government meeting.

Details. The term for creditors to lay claims to the fund is three months from the date of publication of the notice of liquidation of the fund.

What does it mean? Mind explains that this actually changes the system of management of compulsory state social insurance instituted by the current legislation.

Thus, the functions of social insurance due to the temporary loss of the ability to work, industrial accidents and occupational diseases will be transferred to the Pension Fund of Ukraine and its territorial bodies.

The Pension Fund, among other things, will have the right to: verify the validity of the issuance, extension of sick leave certificates and documents that are the basis for their formation, based on information from electronic systems and registers; receive free of charge from state bodies, enterprises, institutions, organisations (including income and taxes authorities, banking and other financial institutions) and business entities information on the use of insurance funds.