A law which increases pensions has been adopted

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Today 13 September, the 32nd plenary session of the Senate of the Oliy Majlis (Parliament) considered the law «On the introduction of amendments to the law of the Republic of Uzbekistan on the provision of state pension to citizens».

According to the law, from 1 January 2023, the maximum amount of salary for calculating the pension will be increased from 10 times to 12 times the basic pension calculation.

In accordance with the proposed change, from 1 January 2023, the average monthly salary taken into account for the calculation of pension for citizens shall not be more than 12 times the basic amount of pension calculation, that is, the average monthly salary in the amount of 3,888,000 soms.  Payroll accounting is being determined.

As a result, the pension amount of 352,000 citizens will be recalculated, and the average monthly pension will increase to 400,000 som.  Of these, 304,000 are old-age pensioners, 25,200 are disabled, and 23,000 have lost a breadwinner.

In order to implement the measures provided for by law, the Pension Fund requires additional funds of more than 1.5 trillion som.

The introduction of the procedure proposed by the Act serves to strengthen the principles of social justice, increase the motivation of the population to work productively and obtain higher wages.

The law was approved by the senators.


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