Pensions and assistance to Ukrainians will be paid in a new way: the Pension Fund will receive information from banks.

The government of Ukraine has approved new rules for the payment of pensions and social assistance through bank accounts, as reported by the publication 'Hvylya'. From now on, banks are obliged to inform the Pension Fund about the verification of recipients.

After verification, the bank must send an electronic message to the Pension Fund daily. This requirement has been in place for 20 years and helps ensure timely payments of pensions and social assistance.

It is worth noting that the requirement to conduct personal verification of pension and social benefit recipients has existed in Ukraine for over 20 years — since 2004.

For most Ukrainian pensioners, this verification is just a formality, as they undergo it when receiving a new bank card. There are over 10 million pensioners in the country, of which more than 8 million receive pensions through banks.

It is important to remember the possibility of losing pensions and social assistance for Ukrainians.

The newly adopted rules will contribute to the timely payment of pensions and the protection of the rights of Ukrainian citizens to social benefits through bank accounts.