This increase follows a resolution by the Cabinet of Ministers, which mandates an 18 percent rise in the insurance portion of pensions, with a minimum increase of 1,000 soms. Any pensions below the new minimum of 6,900 soms will now be adjusted to meet the subsistence level, according to 24.kg.
This decision follows a meeting in June led by President Sadyr Japarov, where the topic of pension increases was discussed. Baktiyar Aliyev, Chairman of the Social Fund, reported that since 2021, the collection of insurance premiums has reached record levels. The rise in salaries for teachers, doctors, and public sector employees has been a key factor in this growth, leading to the increase in pension funds.
The Social Fund has implemented a strategy called “Kelechek Bulagy” to further develop the pension system, and several laws have already been passed as part of this initiative. An additional 60 billion soms will be allocated over the next three years to support pension increases.
Earlier, on July 1, the basic pension was increased to 3,500 soms for those who previously received less than the established rate of 3,170 soms.
