Uzbekistan discusses further improvement of the pension system
Uzbekistan discussed further directions of pension reform. The meeting was held by Deputy Prime Minister — Minister of Economy and Finance Jamshid Kuchkarov.
Yulduz Salimov1 min read
Deputy Prime Minister — Minister of Economy and Finance of Uzbekistan Jamshid Kuchkarov held a meeting on September 29 with representatives of the International Monetary Fund, the World Bank and the International Labour Organization, during which further directions of pension reform were discussed.
The meeting was attended by Head of Actuarial Services at the ILO Social Protection Department Andre Picard, Senior Economist of the IMF Fiscal Affairs Department Csaba Feher, and World Bank Senior Social Protection Specialist Himanshi Jain.
Participants considered issues of further improvement of the pension system, taking into account international experience and the socio-economic characteristics of Uzbekistan.
Particular attention was paid to ensuring the long-term sustainability of the pension system, improving mechanisms for the formation of pension rights, and expanding population coverage by the pension system. The development of the funded component and the adaptation of the pension system to demographic changes were also discussed.
During the meeting, the parties reviewed possible approaches to improving the architecture of the pension system, including the harmonization of various pension components.
In addition, views were exchanged on issues of pension fund management, development of individual pension accounts, investment mechanisms and institutional approaches to managing pension assets.
Following the meeting, participants discussed further directions of pension reform and noted the importance of continuing expert cooperation, taking into account actuarial, financial and social aspects.
Source: uzdaily.uz
