You must choose a new bank by September 15: an important notice for retirees
14 August 04:08
Starting October 1, 2026, the Pension Fund will stop transferring pensions, housing subsidies, benefits, and other government social payments to accounts at Ukreximbank. To continue receiving payments to their cards, customers must open an account at another authorized bank by September 15 and provide the account details to the Pension Fund of Ukraine. This is stated in an official announcement from the Pension Fund of Ukraine, as reported by "Komersant Ukrainian"
Ukreximbank is terminating its cooperation with the Pension Fund of Ukraine regarding the servicing of accounts for government payments.
Which payments will no longer be deposited into Ukreximbank
Starting October 1, 2026, the Pension Fund will no longer transfer the following to accounts opened at Ukreximbank:
- pensions;
- housing subsidies;
- subsidies for housing and utility services;
- insurance payments;
- other types of state social assistance administered by the Pension Fund of Ukraine (PFU).
These changes apply only to customers who currently receive these funds through Ukreximbank. Recipients of payments at other banks do not need to take any action.
The bank itself has also confirmed that, effective October 1, its agreements with the Pension Fund of Ukraine regarding the payment of pensions and social assistance will be terminated.
What to Do by September 15
Clients who wish to continue receiving their pension or social assistance via a bank card must, no later than September 15, 2026:
- Select another bank authorized to pay pensions and state social assistance.
- Open a special account at that bank to receive payments.
- Obtain the account details in IBAN format.
- Submit an application to the Pension Fund to change the payment method.
- Verify that the IBAN and your personal information are correct.
The application must include the details of the new account. Simply opening an account is not enough: you must provide your new bank details to the Pension Fund.
The list of financial institutions through which you can receive government payments is published on the PFU’s page of authorized banks.
How to Change Your Bank Online
You can submit an application remotely via the Pension Fund’s e-services web portal.
To do this, you must:
- Log in to the portal using a qualified electronic signature, “Diya.Signature,” or another available method.
- Go to the pension benefits section.
- Select the application to change your pension payment method.
- Fill in your personal information.
- Enter the details of your new bank account.
- Upload scanned copies of documents if the system requires them.
- Sign and submit the application.
The Pension Fund of Ukraine has also published a video tutorial on changing the payment method.
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After submitting the application, you can check its status in your personal account on the Pension Fund portal.
How to Submit an Application in Person
People who do not use electronic services can visit any PFU service center, regardless of their place of registration.
You should bring the following with you:
- a passport or other form of identification;
- your taxpayer identification number;
- bank account details at your new bank;
- pension ID card—if available;
- an application to change the payment method, which can be filled out on-site.
The bank account must be opened in the name of the payment recipient. Before submitting the application, you must verify the IBAN, as even a single digit error can delay the transfer of funds.
What Happens If You Don’t Change Banks
If a client does not open an account at another authorized institution by September 15 and does not notify the Pension Fund of Ukraine (PFU) of this, their entitlement to a pension, subsidy, or benefit will not be revoked.
After the termination of cooperation with Ukreximbank, payments will be made through “Ukrposhta” branches. In this way, the government will ensure the continuity of social payments for people who do not have time or do not wish to choose another bank.
What will happen to your Ukreximbank card
The termination of cooperation with the Pension Fund of Ukraine does not mean that the card will be automatically closed or that funds already in the account will be lost.
As explained by Ukreximbank, after October 1, accounts that previously received pensions and social assistance will be serviced as regular checking accounts in accordance with the agreements and current fees.
Therefore, customers should find out in advance:
- whether the card service fee will change;
- what fees will apply after the account is switched to the standard rate;
- whether they need to close an unused account on their own;
- how to withdraw or transfer the remaining balance;
- how long the plastic card will remain valid.
Starting October 1, Ukreximbank will also stop opening new card accounts under the “Social” rate plan. You can get advice by calling the bank’s contact center at 0 800 50 44 50.
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