As part of the new Uzbekistan’s development strategy, the improvement of the state pension system and the consistent raise of the size of pensions based on the country's economic figures have been established as a permanent task, the press service of the Pension Fund of Uzbekistan said.
Reportedly, in the last year:
- the minimum pensions and allowances were increased by 14% and were not lower than the minimum consumer spending;
- pensions and allowances exceeding the minimum consumer spending (over 500,000 soums, 45 USD) were raised by 12%;
- minimum pensions and disability benefits were raised from 440,000 soums to 698,000 soums, from 40 to 63 USD that is, by 1.6 times.
In addition, an add-up of 1% of the monthly pension and benefits has been introduced for those who receive payments by bank cards.
Also, as per the presidential decree, from January 1, 2023, the maximum wage accepted for calculating a pension will be increased from ten times to twelve times the base amount for calculating a pension.
From January 1, 2023, the base amount of pension calculation was 3,888,000 soums. According to this decree, in December 2022, the pension of 371,000 pensioners was recalculated.
As a result of the above reforms, the average pension as of February 1, 2023 stands at 1.1 million soums, or 100 USD and this figure increased by 16% compared to the same date of the previous year.
