Kyrgyzstan to ensure decent pension for citizens

Japarov gave specific instructions to step up the work with citizens to improve their pension literacy.

On January 16, Chairman of the Cabinet of Ministers of the Kyrgyz Republic Akylbek Japarov emphasised at the meeting on the development of the Social Fund and the expansion of pension insurance coverage that the state must ensure a decent old age for all citizens of the country, the press office of the Government of Kyrgyzstan reports.

He noted that the state would never achieve the goal of ensuring a decent old age under the current system, when, for example, farmers pay pension contributions at fixed rates, on average 8 soms per month.

The Prime Minister informed that the share of pension contributions paid by agricultural workers is 0,6%, and the expenditure on their pensions is equivalent to 40%. The situation is the same for entrepreneurs and other categories of citizens.

Noting that all citizens should have access to clear, understandable and effective mechanisms for mandatory and voluntary pension programmes, Japarov gave specific instructions to the heads of the Social Fund.

He instructed to set up a working group to develop the market for non-state pension services and encourage citizens to participate in the voluntary pension programmes.

17 01 2023, 10:20
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