Accounting of pensions and benefits automated in Uzbekistan

Accounting of pensions and benefits automated in Uzbekistan

Uzbekistan, Tashkent, Jan. 14 / Trend D.Azizov /

Off-budget Pension Fund under Uzbek Finance Ministry has introduced a 'Pension' software package, designed to automate allocation and calculation of pensions and benefits, and their recalculation according to the legislation, fund representative told Trend on Monday.

The package provides registration, storage, processing and delivery of information on pensioners in the local departments of the pension fund.

In addition, the software allows to draft payment documents (statements on pensions and benefits allocation), send e-vouchers to relevant institutions responsible for payments.

The 'Pension' software package also creates opportunities to receive reporting forms on the level of the pension fund's units, to track and monitor the funding of pensions and benefits by type.

The software package was developed in conjunction with Fido-biznes LLC - the developer and provider of information systems and technology solutions in the software industry of Uzbekistan .Its development was launched in May 2010 and put into operation throughout Uzbekistan in the first quarter of 2012.

Currently, the personal data of all pensioners and beneficiaries is covered by a unified electronic database, and allocation and payment of pensions is carried out by the introduced software.

According to the fund, the 'Pension' software package allowed to introduce local accounting network in 196 district and municipal offices connecting to the corporate network of the Finance Ministry, to ensure work efficiency while preserving the privacy of pensioners' personal data.

The program enables quick identification of errors in the activities of employees and prevention of intruders in allocation and payment of pensions. There are also opportunities to balance the daily income and expenses, recalculation and payment of state pensions and benefits, to conduct widespread and rapid accounting of the fund's expenses and centralized management control.

Provision of interactive services to pensioners has been extended through the software package. In particular, pensioners can be informed about the latest developments and innovations in pension system, receive statements on the amount of accrued pension by e-mail and short messages to mobile phones.

The Uzbek off-budget Pension Fund was established in December 1996 under the Ministry of Labour and Social Protection. In 2001, Uzbekistan withdrew the pension fund from the ministry's structure and transferred it into the off-budget Pension Fund. Thus, the ministry was charged with the formation of the forecast balance of the fund's income and expenditure to ensure the timely calculation and payment of pensions and benefits, as well as control over the correct and timely payments.

In January 2005, the Pension Fund of Uzbekistan was transformed into the Pension Fund under the Ministry of Finance.

The main sources of the Pension Fund's income are the premiums of enterprises, institutions and organizations, mandatory insurance contributions of citizens and mandatory contributions of enterprises, institutions and organizations on the actual volume of sold goods (works, services).

According to the Ministry of Labor and Social Protection, at present, there are about 3.5 million pensioners in Uzbekistan. The minimum old-age pension with seniority is currently 155,670 soums, while benefits for the elderly and disabled citizens who do not have the required work experience reach 95,520 soums a month.

The revenues of the Pension Fund in 2013 were approved at $ 9.7 trillion soums. In particular, reception of 5.907 trillion soums is planned through deductions from the single social tax, 1.591 trillion soums - compulsory contributions from sales of goods , 1.483 trillion soums - compulsory insurance payments of citizens.

The official exchange rate on January 14 is 1511.4 soum / $ 1.

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