The Cabinet of Ministers of Kyrgyzstan adopted resolution No. 652 «On approval of the regulation on corporate pension savings funds» aimed at developing corporate pension savings systems in the country. The Financial Market Regulation and Supervision Service reported.
The funds offer additional pension provision that companies create for their employees voluntarily. These funds can be established by one employer or several companies in the same industry and are designed to improve the terms of pension provision.
According to the new regulation, such funds will help increase pensioners’ incomes through additional payments, support the attraction and retention of qualified employees and allow employees to accumulate personal pension savings.
The document determines the legal basis for the creation and operation of corporate pension funds. These funds are managed under agreements with management companies and are regulated by laws on pension funds, as well as the internal rules of the fund.
