Pension Funds

Ukraine state pension fund gets new chief

Yevhen Kapinus was named head of the state pension fund of Ukraine — Orhan Derzhavnoi Pensiinyi Fond Ukrainy — by Prime Minister Volodymyr Groysman.

Mr. Kapinus, a former finance minister, was tasked with increasing pensions for military personnel starting Jan. 1 and ensuring recalculation of pension benefits to other categories of retirees beginning in March.

The prime minister, in a statement on the Ukraine government's website, said Mr. Kapinus would need "to shortly conduct an audit of the pension fund and ensure the stable functioning of the pension system. ... The two most important tasks are: the pension fund should be ready to increase pensions from Jan. 1 to military retirees and for the first time in the history to conduct a large-scale revaluation of pensions to all other categories of pensioners. It's a big job."

The prime minister also called on the new pension chief to improve the retirement system for future retirees.

"The task of the pension fund is not only for paying pensions to pensioners. We must take care of future retirees. I believe that the new head will bring order to the pension system, and the work of the pension fund will be public and constructive," Mr. Groysman added.