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Social Insurance Fund for temporary disability (hereinafter referred to as Fund) was founded according to the Law of Ukraine on Obligatory State Social Insurance in connection with temporary loss of ability and charges caused by birth and burial and is a successor of the Fund of Social Insurance of Ukraine.
Fund is a legal entity. In its activity Fund is guided by Constitution of Ukraine, Fundamentals of legislation on Obligatory State Social Insurance, the Law of Ukraine on Obligatory State Social Insurance in connection with temporary loss of ability and charges caused by birth and burial, Labour Code, other legislative and legal acts and also by the statute of the Fund.
Fund is nonprofit self-governing organization and belongs to special-purpose non-budget insurance funds. The State is a guarantor of a stable fund’s activity and in providing by the fund of endowment and social services for the insured persons.
The governing of Fund is exercised on an equal base of state, representatives of insured persons and of employers. Board of the Fund and the Executive Directorate exercise direct governing of the Fund. In Autonomous Republic of Crimea, oblasts, Kyiv and Sevastopol cities, direct governing is exercised by the Board and Executive Directorate of Fund’s appropriate departments.
The Board of the Fund consists of 15 representatives of state, as well as of insured persons and employers, who discharge their duties on a voluntary basis. The Board of the Fund holds its meetings according to approved plan but not less than twice per year. Decision of the Board of the Fund accepted within its competence is obligatory for the fulfillment by all the insurers and insured persons.
Executive Directorate of the Fund is the executive body of Fund’s Board that ensures the fulfillment of Board’s decisions. Working bodies of the Fund’s Executive Directorate and of its departments are executive directorates of departments in Autonomous Republic of Crimea, oblasts, Kyiv and Sevastopol cities.
The sources of forming the Fund’s assets are:
- insurance contributions of insurer-employers, insured persons that are paid on conditions and in order, envisaged in the Law of Ukraine on Obligatory State Social Insurance in connection with temporary loss of ability and charges caused by birth and burial;
- sums of non-accepted to inclusion charges of insurer by the obligatory state social insurance in connection with temporary loss of ability and charges caused by birth and burial, of fine, penalties and of other financial sanctions applied to insurers and officials according to abovementioned law and other legislative acts;
- charitable contributions of enterprises, establishments, organizations and natural persons;
- appropriation from state budget;
- profit received from temporary free Fund’s assets including provisions of Fund’s assets on deposit account;
- other earnings according to the Ukrainian legislation.
The assets of obligatory state social insurance in connection with temporary loss of ability and charges caused by burial are used for:
- payment for insured persons of relief on temporary disability, pregnancy and delivery, on burial;
- financing of sanatorium-and-spa treatment and health improvement of insured persons and members of their families, out-of-school service including purchase of child’s New Year gifts;
- ensuring of day-to-day activity and maintenance of Fund’s bodies, development of its material and technical basis.
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For Confederation Members
