Turkmenistan to move to new method of citizens' pensions in 2012
Turkmenistan, Ashgabat, July 19 / Trend, H. Hasanov /
Turkmen President Gurbanguly Berdimuhamedov signed a decree approving the plan of introducing conditional pension saving method from January 1, 2012. The decree indicates that it is done "in order to introduce more modern methods of citizens' pension provision from 1 January 2012, and further improve these methods in accordance with Article 187 of Turkmenistan's Code "On Social Security", as well as establishing pension fund.
The document instructs the Ministry of Social Welfare and the Ministry of Economy and Development jointly with the Ministry of Justice to develop proposals for making appropriate changes and amendments to national legislation and submit to the Cabinet in accordance with terms mentioned in the plan.