SALARY RATIO APPROVED TO ABOLISH DIFFERENCE IN PENSIONS
Ulaanbaatar, Mongolia /MONTSAME/ The cabinet made on Wednesday a decision to implement the 2nd phase-measure of pension rise together with modernizing of the salary ratio in order to abolish a difference in pensions.
This year, the government placed a capital in the budget for 2-phased pension rise. Within the first phase, the pensions increased from February 1 this year by 35 thous. togrog.
Thanks to modernizing the ratio, the minimum size of pension, granted from the Social insurance fund, has been fixed at MNT 180,300, the minimum size of the balanced pension--at MNT 145,200. In conjunction with an improvement of the livelihood, this decision came into force on May 1 of 2012.
Now an average pension has reached MNT 222,900, increasing from 165 thousand. This is an increase of 75 per cent against the end of 2011, of 35 per cent against April 1 of 2012, and of 2.3 times against 2008.
By 40 percent, or 63 thousand, has increased the pension of those 193 thousand, or 64 per cent, who had their pensions fixed before the year 1995, and by 28 percent, or 49 thousand, of those with the money fixed after 1995.
B.Khuder
This year, the government placed a capital in the budget for 2-phased pension rise. Within the first phase, the pensions increased from February 1 this year by 35 thous. togrog.
Thanks to modernizing the ratio, the minimum size of pension, granted from the Social insurance fund, has been fixed at MNT 180,300, the minimum size of the balanced pension--at MNT 145,200. In conjunction with an improvement of the livelihood, this decision came into force on May 1 of 2012.
Now an average pension has reached MNT 222,900, increasing from 165 thousand. This is an increase of 75 per cent against the end of 2011, of 35 per cent against April 1 of 2012, and of 2.3 times against 2008.
By 40 percent, or 63 thousand, has increased the pension of those 193 thousand, or 64 per cent, who had their pensions fixed before the year 1995, and by 28 percent, or 49 thousand, of those with the money fixed after 1995.
B.Khuder
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