Pension Fund refuses from cooperation with ten banks

The Pension Fund of Ukraine has refused from cooperation with ten Ukrainian banks, the treasury of one of the system banks has told Interfax-Ukraine.

"The Pension Fund stops cooperation with the number of banks, in particular, Bank Nadra, Ukrprombank, Bank Kyiv, Odessa-Bank, Ukrgasbank, Bank Stolychny, Bank for Regional Development, Rodovid Bank, Bank Yevropeysky, and Transbank. Theclients' pensionsforMarchwill not be transferred to the accounts of the mentioned banks," the bank said citing a corresponding statement by the Pension Fund.

As reported, the Pension Fund of Ukraine in March said that it had started informing pensioners on unreliable and problem banks. Over 30% of Ukrainian pensioners receive pension through 94 banks.

The average pension in Ukraine as of late 2008 was UAH 895, which was 1.5 times up compared to December 2007.