In some cases, the Pension Fund can take up to 20% of the pension to compensate for damages.
The Pension Fund of Ukraine has the right to take up to 20% of the pension to compensate for damages. Penalties are imposed if a person fails to promptly notify the Pension Fund of changes in certain data.
Why the Pension Fund can fine a pensioner
A pensioner is required to notify the Pension Fund of employment or the start of entrepreneurial activity. He has 10 days to do this.
“Failure to notify or untimely notification of employment (or registration of entrepreneurial activity) leads to illegal payments of pension funds, which must be returned to the Pension Fund authorities,” the Pension Fund said in a statement.
Compensation of funds may occur voluntarily or forcibly. That is, a pensioner can independently return excess payments.
If a person refuses to do this voluntarily, the Pension Fund will forcibly take up to 20% of the payments from him. The funds will be “taken” until all excess expenses are compensated.
It should be noted that the Pension Fund must be notified not only about employment, but also about dismissal from work. Thanks to this, pensioners can increase their payments.
Recall that the government gave a forecast of what will happen to the economy and the dollar in the next three years.
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