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Kyrgyzstan to reform pension system

«The transformation of the pension system is caused by the changes in the structure of the economy and the social sphere,» the Deputy Prime Minister Altynai Omurbekova said at an international conference today.

According to her, the equality of pensions received and the amount of insurance contributions must be achieved in Kyrgyzstan. The problem of adequacy of the pension provision level still exists in all CIS countries. Up to date, many internal and external factors do not allow reaching the level recommended by the International Labor Organization.

«As part of the reform of the pension system, it is expected to further improve it, which will rise the living standards of the elderly Kyrgyzstanis to the higher level. Much has to be done for the pension system to be perfect in the Kyrgyz Republic. Until now, the issue of signing an agreement on the provision of workers in the countries of the Eurasian Economic Union with pensions remains urgent. This issue has long been discussed. We hope that it will be resolved in the near future. Future pension system should both contain the basic guarantees of the state, and increase the responsibility of every citizen,» Altynai Omurbekova summed up.

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