Many pensioners face a situation where, after opening a new bank card, payments do not arrive in the account. The Pension Fund of Ukraine (PFU) explained that simply opening an account with another financial institution is not enough to redirect pension flows. According to the established procedure, the recipient of payments is obliged to personally notify the state of the change in details by transferring the relevant data to the agency.
Procedure for changing bank details
The procedure for changing the authorized bank is regulated by current regulations, in particular Procedure No. 1596. According to this document, a citizen has the legal right at any time to change the bank through which they receive their pension, or return to the previous financial institution if it continues to make such payments. Moreover, legislation allows pensioners to freely switch to receiving funds through a post office and vice versa. The main condition for the successful operation is the timely submission of the relevant application to the PFU.
Ways to submit an application to the PFU
For state authorities to record new bank details on time, a pensioner must contact the Pension Fund in a convenient way. This can be done remotely using the official web portal of electronic services of the PFU with a qualified electronic signature (QES), or by personally visiting one of the fund's service centers. Ignoring this stage leads to payment delays and the need to find out the reasons for the lack of funds.
Current changes for Ukreximbank clients
Special attention should be paid to recent changes in the banking sector of pension account servicing. Thus, starting from October 1, state-owned Ukreximbank stopped servicing Pension Fund payments. For those citizens who did not timely care about independently changing details and did not transfer their accounts to another financial institution, an automatic mechanism for redirecting funds through Ukrposhta is provided.
