Kyrgyzstan’s pension system faces problems
Kyrgyzstan’s pension system is in a hard situation, said Shamil Atakhanov, the head of a non-state accumulated pension fund.
26 October 2010
At present, there are 1.2 working persons per one pensioner in Kyrgyzstan, while in compliance with the ILO standards there should be three working persons per one pensioner, he told a roundtable meeting on October 26 devoted to the problems of social vulnerability of Kyrgyzstan’s entrepreneurs.
The existing pay-as-you-go pension system does not meet modern requirements and real demands of old people.
Eighty percent of Kyrgyzstan’s senior citizens people are paid pensions that are lower than the subsistence level, said Zinaida Zazhigayeva, an official of the Public social protection fund.
As of October 1, the government increased the pension’s basic component to 1,000 soms (around 22 dollars).
Source: Regnum news agency