The size of pension will be increased in Kyrgyzstan

The size of pensions will be increased in Kyrgyzstan from today, that is, from October 1. The decision was signed by the Prime Minister of the Kyrgyz Republic Muhammedkaly Abylgaziev, reports official website of the government of Kyrgyzstan.

In accordance with the Law of the Kyrgyz Republic "On State Pension Social Insurance", the indexation of pensions is carried out annually within the limits provided for in the budget of the Social Fund of the Kyrgyz Republic.

In order to provide further support to the living standards of pensioners, the Government of the Kyrgyz Republic adopted decrees on the indexation of the basic part of pensions, the total size of which is lower than the subsistence level of the pensioner for the previous year from October 1, 2018.

So, according to the results of the decisions, pensioners who receive pensions up to 4,393 soms will get a minimum pension increase of 350 soms.

In addition, as a result of the recalculation, the average pension in the republic will increase by 378 som and will make up 5,682 soms. Meanwhile, depending on the size of pensions and contributions made, the insurance part of pensions increases from 7,1% to 18%. That is, the growth  in the insurance part of pensions will be 10,4% on average.

"The Qazaq Times"