Uzbekistan may raise retirement age

By April 1, 2020, a new concept of the pension reform will be developed. According to Norma, the draft document will be posted for public discussion by this date.
 
The document is being developed in cooperation with the World Bank, the IMF and other international organizations.
 
The retirement age, which is considered minimum compared to other countries, will be gradually changed. The average retirement age for men and women in the world is 62 years, and in Uzbekistan – 57.5 years. It is also planned to gradually increase the minimum years of work experience for pension, which is currently 7 years in the country (according to the ILO Convention – 15 years).
 
In 2011-2019, the number of pensioners in Uzbekistan increased by 2.4 times. In 2019, they increased by 339,000 people. At the same time, the officially employed population is 4.76 million people, 32.5% of them – economically active population.

It should be noted that this year a new law on pension provision of citizens will be adopted. The current law was adopted in 1994. Despite the fact that the law has been amended 26 times, it still contains a number of references and unjustified benefits.

In order to increase interagency data sharing, it is planned to modernize the “Pension” software complex.

The Regulation No. 971, approved by the Cabinet of Ministers on December 5, 2019, states that individuals are entitled to independently place information on their past employment activities in the Single National Labor System. In this case, the data entered shall be verified by the Pension Fund within 15 days after the entry of information. By April 1, 2020, the mechanism for entering and verifying this information will be clarified.