The Cabinet liquidated the Social Insurance Fund

The Cabinet of Ministers of Ukraine decided to terminate the activities of the Social Insurance Fund.

This was reported by the Prime Minister Denys Shmyhal at a government meeting.

From now on, the Social Insurance Fund will be attached to the Pension Fund of Ukraine. According to the Prime Minister, such a step will make the mechanism of social support more effective and efficient and will reduce unnecessary expenses.

• On September 21, 2022, the Verkhovna Rada adopted draft law No. 3663, which provides for the liquidation of the Social Insurance Fund in Ukraine. In the explanatory note, the authors of the bill noted that the liquidation of the Social Insurance Fund will save the state up to two to three billion hryvnias per year.