Will the retirement age be increased in Uzbekistan?

Earlier, it was reported that the International Monetary Fund (IMF) had proposed increasing the retirement age in Uzbekistan. In response, the Pension Fund of Uzbekistan issued an official statement.

It was noted that no final decision has been made regarding the increase of the retirement age in Uzbekistan as of now.

The proposals put forward by international experts on pension reform are currently being analyzed for their compatibility with Uzbekistan's conditions, their potential impact on the population’s standard of living, and their broader economic implications.

It was also reported that any changes to the pension system, including those concerning the retirement age, will be implemented gradually. These changes will take into account public opinion and the interests of citizens and will only be introduced after broad public discussions.

It is worth noting that the IMF has recommended a phased increase in the retirement age in Uzbekistan, a gradual rise in the standard contribution rate, the elimination of preferential rates for specific types of organizations, the calculation of pensions based on average lifetime earnings, and the introduction of automatic pension indexation linked to inflation.