Kyrgyzstan to increase average pension since Oct. 1

Bishkek, Sept. 16, 2020. /Kabar/. The Social Fund of the Kyrgyz Republic told about the pension increase in 2020. At a press conference at Kabar News Agency, the Fund’s Chairman Meder Israilov said the Government adopted on Sept. 11 a resolution on indexation of the basic part of pensions, the total amount of which is below the minimum subsistence level of a pensioner for the previous year.

He added that the indexation of the basic part of pension by 5%, or KGS 100 (about $ 1,26) is provided from Oct.1

As a result of the upcoming indexation increase in pensions, on average, will amount to 107%.

"Following the results of recalculation of pensions, the increase will make KGS 397 (about $ 5) on average, and the average pension will make KGS 6 thousand 61 (about $ 77)," he said.

The head of the Social Fund said that the need of 689 thousand pensioners will amount to KGS 827.8 million.

As of Apr. 1, 2020 more than 670 thousand pensioners reside in Kyrgyzstan.

The Social Fund allocates almost KGS 4 billion for payment of pensions every month.