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Kyrgyzstan to raise pensions from October 1

Kyrgyzstan will raise pensions from October 1. The Prime Minister signed a relevant government decree.

As the chairman of the Social Fund Tenizbek Abzhaparov noted, the average size of pensions in the republic to increase by 516 soms and will be 5,517 soms.

For pensions to 5,000 soms the increase average will be 113.2 percent, and over 5,000 soms — an average of 107 percent.

The mechanism of increase will be realized as follows:

— The basic part of the pension is set at 1,780 soms, the growth will be 280 soms;

— the insurance part of pensions will be indexed at the rate of $ 1.05, but not less than 240 soms. The indexation factor is calculated on the basis of inflation and wage growth over the past year;

— the size of the general pension of the disabled of the first group is set at not below the subsistence level of the pensioner for the previous year.