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Pension system reform discussed in Kyrgyzstan

The forthcoming reform of the pension system was discussed in Kyrgyzstan. The Cabinet of Ministers reported.

According to it, the Chairman of the Cabinet of Ministers Akylbek Japarov noted that one of the indicators characterizing the effectiveness of the state’s social policy is the level of pension provision of citizens.

«The reform of the tax and customs systems is at the completion stage, and from January 2022 we plan to start reforming the pension system. Its main goal is to increase fairness and efficiency by ensuring equal rights for all participants of the system and strengthening the principles of pension provision,» he said.

A strategy for the development and construction of a sustainable system of the Social Fund Kelechek Bulagy was also presented.

It is noted that it is necessary to abandon the image of a system that takes money from citizens and pays scanty pensions, and also the attitude of people to the Social Fund should be changed to such, when a person will be happy to deduct funds to determine the size of a future pension, where the state will act as the guarantor of its receipt.

Following the discussion of the strategy, Akylbek Japarov instructed the management of the Social Fund to finalize it, taking into account the proposals and comments made.

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