OREANDA-NEWS. January 06, 2012. PFU confirmed the status of Piraeus Bank as an authorized bank on servicing current accounts of pensioners and recipients of the monetary aid.

The Tender Committee of Pension Fund of Ukraine (PFU) extended the term of the agreement between the Pension Fund of Ukraine and Piraeus Bank on maintenance of current accounts of pensioners and recipients of financial aid till 1, 2013. It provides Piraeus Bank with the entitlement to continue opening and maintaining accounts for the payment of pensions and financial aid.

The decision on renewal of contracts with authorized banks is taken by a special Tender Committee of PFU that selects banks by estimating their financial condition and performance according to the NBU regulations for the past six months.

The main advantages of receiving pensions and social assistance through Piraeus Bank are a free opening and maintenance of current retirement accounts, charging 10% interest on the account’s balance as well as the free issuing of the international VISA payment card to the account. Also there are special conditions for placing funds on deposits for this group of customers: when placing funds on "Pension" deposit all pensioners receive a bonus to the current standard interest rate for the selected type of deposit: +0.5% per annum in UAH, USD or EUR.