The Social Fund is Preparing Innovations: What Will Change for Pension Savings

Анна Федорова Society
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The draft of the new resolution from the Cabinet of Ministers regarding changes to the rules for the payment of pension savings has been presented for public discussion. The main goal of this document is to revise the procedure for payments made by the Social Fund.

According to the draft, the list of individuals entitled to receive pension savings is clarified. In some cases, the spouses of insured citizens will be able to join them. It is also planned to change the mechanism for multiple payments and update the list of documents required for using pension savings for housing needs, such as mortgages, shared construction, and renting housing with subsequent purchase under state programs.

Some provisions of the current rules will be deemed invalid, and new types of supporting documents will be introduced. These will include letters from commercial banks, the mayors of Bishkek and Osh, as well as from JSC "GIK." In addition, the procedure for repeated requests from citizens for pension savings payments is clarified.
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