The assets of Ukreximbank's corporate non-state pension fund stood at UAH 460 million as of September 1, 2026, while the number of participants exceeded 6,000, the bank's Capital Markets Department Director and representative of the fund's founder Oleh Serdiuk said.
"The fund's participants are either current or former Eximbank employees. The fund is among Ukraine's top five largest funds by assets and is the leader in returns among non-state pension funds," Serdiuk said at the press conference "The Future of Non-State Pensions in Ukraine – New Opportunities or New Risks?" at the Interfax-Ukraine agency on Thursday.
The total amount of obligations accrued and fulfilled by the fund exceeds UAH 200 million, including almost UAH 100 million in lump-sum pension payments.
Ukreximbank established the fund in 2005 as part of its corporate employee pension program, and it began operating in April 2006.
The fund follows a conservative investment strategy. Its main investment areas are government securities, instruments of state-owned and largest Ukrainian banks, and corporate bonds of major Ukrainian issuers.
Two bills on reforming non-state pension provision are currently registered in the Verkhovna Rada. The main bill, No. 15570, "On Voluntary Pension Funds," provides for a transition from the current model of non-state pension funds (NPFs) to voluntary pension funds that may be established exclusively by pension companies. Existing NPFs would have 10 years to decide whether to terminate through reorganization or liquidation.
The National Securities and Stock Market Commission (NSSMC) supported the package of bills Nos. 15570, 15571 and 15572 on updating the voluntary pension provision system. The proposed changes concern, among other things, corporate governance and internal control, risk management, internal audit, introduction of the "prudent person" principle for investing pension assets, and disclosure of information to participants. Separate bills in the package regulate tax and civil law issues.
Serdiuk said the proposed model would mean that employers would lose their status as founders of corporate pension funds.
"At present, we have clearly separated functions for managing and overseeing the fund. We have the fund's founder, the fund's board, an administrator, an asset management company, a custodian bank – in our case Raiffeisen Bank – and an auditor. (...) A great many questions arise when all of this is concentrated in pension companies," the banker said.
An alternative bill, No. 15570-1, "On the Non-State Pension Provision System," would allow existing NPFs to remain alongside new voluntary pension funds. Under its transitional provisions, existing NPFs would have 10 years to decide whether to reorganize or liquidate, but the bill would not make this mandatory.
