Draft Law of Ukraine

"On Amendment of Some Laws of Ukraine Related to Transfer of the Function on Registering Insurers by Insurance Funds to the Pension Fund of Ukraine"

The draft envisages uniting in one body – the Pension Fund of Ukraine – the function of registering payers of fees to funds of obligatory state social insurance. To date, apart from the Pension Funds of Ukraine there are other three similar funds – the Fund for Social Insurance against Accidents, the Fund for General Obligatory State Social Insurance against Unemployment and the Fund for Social Insurance against Temporary Disability.

The draft, if approved, will permit considerable simplification of the mechanism for registering business entities as payers of fees for obligatory state social insurance and reduce administrative expenditures of the funds for social insurance.