Court refused the Pension Fund’s recovery of 4723.04 UAH of subsidy

Bilhorod-Dnistrovskyi City District Court of Odesa Oblast refused the Pension Fund’s claim to recover 4723.04 UAH from a recipient of a housing subsidy.

Claim amount and chronology of the checks

The Pension Fund sought to reclaim the funds, considering them overpaid after a review of the electronic case in May 2024. Initially the Fund’s documents recorded an overpayment of 8850.18 UAH, and later, after two reductions of its claim, the agency sought to recover 4723.04 UAH.

During the check the Pension Fund recorded bank transactions for the purchase of foreign currency and bank metals conducted from 22 August to 22 November 2022, and concluded that the sum of the transactions exceeded the 50,000 UAH limit. Payments for January–September 2023 were determined to be overpaid, and in May 2024 the woman was sent a notice requesting voluntary return of the funds.

court document next to bank statements

Evidence of the currency exchange and the defendant’s explanations

The defendant did not dispute carrying out the transactions but explained she had exchanged euros for US dollars without increasing her overall savings. She provided bank certificates and a receipt showing holdings of 663.12 euros and 668.44 US dollars as at 22 August 2022.

At the rate of the National Bank of Ukraine (NBU) these amounts were respectively 24,365.75 UAH and 24,443.91 UAH, giving total savings of 48,809.66 UAH. After the exchange on 22 November 2022 the account held 1,335.47 US dollars, which at the NBU rate amounted to 48,836.27 UAH, i.e. below the 50,000 UAH threshold.

currency exchange receipts next to banknotes

Grounds for the court decision

The court examined subparagraph 4 of paragraph 14 of Regulation No. 848 in the version in force at the time of the transactions, which restricts the granting of a subsidy where financial operations exceed 50,000 UAH within 12 months. At the same time the court found that the mere fact of conducting currency transactions does not prove that the limit was exceeded.

The defendant’s bank documents confirmed savings of 48,809.66 UAH before the exchange and 48,836.27 UAH after it. The Pension Fund did not refute these figures and did not prove that more than 50,000 UAH had been on the accounts, so the court dismissed the claim and considered the matter of returning funds with reference to articles 1212 and 1215 of the Civil Code of Ukraine.

Iryna Pavlova

Iryna Pavlova

Deputy Editor-in-Chief

Deputy Editor-in-Chief of Concord Fintech. She runs the news feed: choosing topics, fact-checking and preparing stories on the economy, business and government decisions that affect Ukrainians' money. She makes sure every story has a verified primary source.

All author's materials (1164)

Leave a reply