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Social Fund expenses to rise by 667 million soms due to pensions increase

The expenses of the Social Fund of Kyrgyzstan will amount to 667 million soms due to increase in the insurance part of pensions from October 1, 2018. This is stated in the draft law on the budget of the Social Fund for 2018 and the forecast for 2019-2020.

The document notes that the Social Fund’s expenditures for the year will amount to 50,427,12.1 billion soms. This is 576,976.8 million soms more than it was originally planned. At the same time, the expenses for the payment of pensions are expected to amount to 42,134,813.7 billion soms.

In addition, the Social Fund proposes to raise salaries of employees of its regional departments from October 1, 2018. This will additionally require 19,812.7 million soms.