Uzbekistan may increase maximum wage accepted for calculating pensions

According to the parliamentary press service, from January 1, 2023, Uzbekistan plans to increase the maximum wage accepted for calculating pensions.

Senators stressed that from January 1, in accordance with the changes introduced, the average monthly salary taken into account when calculating the pension for citizens will be set on the basis of the average monthly salary in an amount not exceeding 12 times the basic amount of the pension calculation, that is, from the average monthly salary in the amount of 3 888,000 soums.

As a result, the size of pensions of 352,000 citizens will be recalculated and the average monthly pension will be increased to 400,000 soums. Of these, 304 thousand are receiving an old-age pension, 25.2 thousand are persons with disabilities and 23 thousand are persons who have lost their breadwinner.

When implementing the measures provided for by law, the Pension Fund will additionally need funds in the amount of more than 1.5 trillion soums.

The above bill has been approved by senators.