Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Monday, August 21, 2017

NBU: Corporate Non-State Pension Fund solvent

The National Bank of Ukraine (NBU) said on Monday that its Corporate Non-State Pension fund contains enough liquid assets to remain solvent and pay pensioners all benefits this year and beyond.

Assets in the fund are currently at $108 million, and of this, $15 million is in highly liquid forms deposited in state-owned institutions. The remainder is in commercial bank deposits and mid- to long-term assets, such as corporate bonds and real estate.

Over the next three months, a third-party firm will conduct an audit of the fund.

"Overall, the asset quality hinges on the economic situation and actions by the management. However, on the whole, it is commensurate with the asset quality of the banking system. There are no grounds for concerns. The fund will maintain sufficient liquidity to ensure the payment of retirement benefits, even if the assets held by the fund are subject to significant revaluation," Director of Directorate of the Fund Oleh Kurinnyi said. "However, it should be taken into account that following the revaluation of assets, the share of assets held by each Pension Fund participant will be subject to adjustment."

Organizations in this story

National Bank of Ukraine 9 Instytutska St., Kyiv 01601

Get notified the next time we write about National Bank of Ukraine!