Uzbekistan may allow to "purchase up to 5 years of work experience"

Reportedly, the possibility of “purchasing years of work experience” is expected in Uzbekistan, with a limited period of up to 5 years. On April 18, an International Conference on Pension Reform and the Experience of Foreign Countries took place and a new Concept was considered, Kun.uz correspondent quotes the Deputy Minister of Finance Yorkin Tursunov as saying on the basis of the new Concept.

“According to the new Concept, it will be possible to “purchase up to five years of work experience”. For example, we currently require 20 years of work experience for women and 25 years – for men. For some reason, men may need to retire with 22 or 23 years of service, which is 2-3 years less than the set period. In such cases, it is envisaged to “purchase 2 or 3 years of missing work experience” by paying a certain amount of money to the Pension Fund. Then the citizen will be able to get a full pension,” Tursunov said.

As the new Concept states, women may also have such chance during their maternity leave: if a woman is busy with childcare and is unable to work, her spouse may pay a certain amount of money to the Pension Fund to get calculated her seniority.

It should be noted that on April 18-20, an International Conference on Pension Reform and the Experience of Foreign Countries, organized by the International Association of Retirement and Social Funds, and the off-budgetary Pension Fund of the Republic of Uzbekistan, is taking place in Tashkent. This is first time such event is being held in our country. The event is attended by heads of pension and social funds of Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova and Tajikistan.