The population was not asked
International consultants to be involved in Uzbekistan's pension reform
The population was not asked
In Uzbekistan, it is proposed to involve international consultants in the reform of the pension system. For this purpose, a separate project office is planned to be established under the Pension Fund, which will focus on the development of funded pensions and the financial sustainability of the system.
One of the key proposals is to transfer the funded pension system from Xalq Bank to the jurisdiction of the Pension Fund starting in 2027. Reporting and accounting of funds in individual accounts are planned to be gradually moved to its information system by the end of 2027. It is also proposed to allocate an additional 31 staff units for the fund.
The project also provides for new incentives for personal savings. If a citizen voluntarily transfers 5% of their salary to a pension account, the state will be able to add up to 50% of the deposited amount.
It is proposed to recognize the savings themselves and the income from their investment as the personal property of citizens with the right of inheritance. So far, this refers to a draft document, and a final decision has not been made.