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Finance 29/04/2018 Uzbekistan publishes draft concept on reforming state pension system
Uzbekistan publishes draft concept on reforming state pension system
Tashkent, Uzbekistan (UzDaily.com) -- Pension Fund under the Ministry of Finance of Uzbekistan developed a draft concept on reforming the system of state pension provision.

The main approaches of the concept are based on joint analytical projects in pension sphere of the UNDP, World Bank and recommendation of Pension Service of Public Servants of South Korea.

The document proposes gradually to increase pension age and introduce a right to receive full pension for working pensioners.

The concept envisages complex measures of economic, legal, social and organizational charter to ensure and support disabled population and law income citizens.

The pension system covers over 3.3 million people or about 10% of population. About 2.5 million people receive pension by age, 360,300 people - on disability, 168,500 – due to loss of the supporter, 294,100 people - social benefits.

The number of pensioners is growing gradually – from 5.9% of population in 2010 to 7.4% in 2018. According to forecasts, the number of pensioners will reach 9% in 2019 and 11% in 2025.

The Pension Fund said that average pension age in the world for men and women set at 62, while it is 55 for women and 60 for men in Uzbekistan. Pension age in Kazakhstan, Kyrgyzstan and Tajikistan is 63 for men and 58 for women.

The concept offers to improve legislative framework to simplify and ensure transparency of pension assignment, as well as abolish some preferences. It is also planned to introduce modern information technologies to pension system to improve work and service quality.

It is planned to provide right to working pensioners to receive their pensions in full volume. The size of pension, paid for single pensioners, leaving in pensions, will be increased.

The document proposes to pay fixed size of pension of the people with disabilities of the third group. The concept developers offered to provide some incentives to the pensioners.

According to the concept, the citizens, who did not reach pension age and have no enough work experience, can pay insurance payment to Pension Fund for each missing month.

It is also planned to allow spouses to pay insurance payment to Pension Fund for non-working wife or husband on voluntary basis.

The document proposes to increase pension age with increasing it to average world level.

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