Kyrgyzstan to Increase Military Personnel Pensions by 10.8 Percent
The Finance Ministry of Kyrgyzstan is taking steps to increase pensions for military personnel starting from October 1, 2024. A draft decree has been prepared by the ministry, which proposes a 10.8 percent increase in pension provision for military personnel.
According to the Law on State Pension Social Insurance, the size of pensions for individuals is dependent on the insurance contributions made to the Pension Fund during their work experience. However, military personnel do not have deductions made from their monetary allowance for pension insurance. The state takes on the responsibility to ensure pension provision for military personnel.
The draft decree aims to improve the pension provision for military personnel and implement a unified approach to pension policy for this group. It also takes into consideration the budget’s capabilities.
It is important to note that this increase in pension provision will not apply to individuals who are already receiving a pension and are continuing their military service.
This initiative by the Finance Ministry demonstrates the government’s commitment to supporting and valuing the service of military personnel in Kyrgyzstan.
