Size of pension will rise by 50 percent since July 1, 2009. The statement was voiced at the meeting of the Kyrgyz President Kurmanbek Bakiev with the Prime Minister Igor Chudinov on Tuesday, May 19, presidential press service reported.
During the meeting the prime minister informed the president about fulfillment of Kurmanbek Bakiev’s commission on pension reform, providing substantial rise of retired pays.
According to Igor Chudinov, the Kyrgyz government together with the Social Fund has found opportunity to raise the pensions by 50 percent compared to 2008 since June 1, 2009. The basic component of pays will increase from 630 to 800 soms and the insurance part- from 811 to 1, 253 thousand soms. Size of the average pension will come to 2,138 thousand soms.
As a comparison, the size of average pension in Kyrgyzstan made up 714 soms as of January 1, 2005.
Kurmanbek Bakiev charged the government with considering the possibility of gradual rise of retired pays by another 50 percent up to 2014.
