The Social Fund of Kyrgyzstan submits a draft resolution for public discussion. It says that it is necessary to increase the attractiveness of the funded pension system and simplify the procedure for payment of pension savings. Changes to the payment rules are planned.
The authors noted that they are introducing norms for insured citizens in receiving funds from the State Pension Fund so that this money can be used to pay off a down payment or a mortgage loan.
Insured citizens who have a mortgage loan will be able to receive pension savings once, if they have an amount of at least 500 calculated rates and if they do not have their own housing.
According to preliminary data, if the resolution is adopted by the end of 2022, the need for financing of pension savings for partial or full repayment of a mortgage loan is planned in the amount of about 200 million soms from the State Pension Fund.
