Turkmenistan exceeds its annual pension insurance contribution plan

Finance Materials 11 February 2021 11:22 (UTC +04:00)
Turkmenistan exceeds its annual pension insurance contribution plan

BAKU, Azerbaijan, February 11

By Jeila Aliyeva - Trend:

The annual contribution plan for the state pension insurance of Turkmenistan was exceeded by 10.6 percent in 2020, which is 14.4 percent more than in 2019, said Muhammetseyid Sylapov, Minister of Labor and Social Protection of the Population of Turkmenistan,Trend reports with reference to Turkmenistan’s State News Agency.

The minister made the remark at a working meeting held by President of Turkmenistab Gurbanguly Berdimuhamedov.

The indicator of the volume of pension savings for voluntary pension insurance of citizens for 2020 in comparison with the previous year increased by 11 percent.

Also, in accordance with the instructions, proposals have been developed for making appropriate additions and amendments to the code On Social Protection of the Population and the Law of Turkmenistan On State Pension Insurance.

A new version of the Labor Code of Turkmenistan was also prepared and submitted to the Mejlis (Parliament) for consideration.

During the reporting period, 10 regulatory legal acts resulting from legislative documents were developed, approved in accordance with the established procedure and put into effect.

The measures provided for in the program for Improving the sphere of labor employment and creating new jobs for 2015-2020 have been fully implemented. Issues related to the provision of jobs for citizens in need of state support are under special control. Information about vacancies is systematically communicated to the public.

As reported, pensions in Turkmenistan increased by 10 percent. The increase in wages, pensions, state allowances and scholarships is an annual measure carried out by President of Turkmenistan Gurbanguly Berdimuhamedov.

The country has adopted a number of laws and regulations in this area. Among them is the code of Turkmenistan on social protection of the population.

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