Standing committee agrees to restructure pensions
The Standing Committee on Social Policy, Education, Culture and Science discussed a draft law on pension reform on Wednesday and approved further discussion in Parliament.
Currently, pensioners who retired before 1995 receive different payments than those who retired after 1995, even if they worked the same job.
The draft law would rectify that discrepancy. Social Welfare and Labor Minister T.Gandi said the differences in pensions were created by different calculations for salaries and inflation. He said it was appropriate to change the pension system so that retirees who worked the same occupation receive the same pension. It is estimated that some pensioners who now receive MNT 105,000 a month would receive an additional MNT 75,000 after the change. It is also estimated that the overall cost of the change would be about MNT 60 billion per month.
Please note that this article has not been written, is not copyrighted and does not in any case represent the views or opinions of M.A.D. Investment Solutions or any of its affiliate individuals or companies. The article above is purely meant for information only to readers and does not constitute a legal or biding agreement in any way, shape or form. For contact and comments directly relating to the above article, please refer to the source as stated below.
Source : News.mn
Currently, pensioners who retired before 1995 receive different payments than those who retired after 1995, even if they worked the same job.
The draft law would rectify that discrepancy. Social Welfare and Labor Minister T.Gandi said the differences in pensions were created by different calculations for salaries and inflation. He said it was appropriate to change the pension system so that retirees who worked the same occupation receive the same pension. It is estimated that some pensioners who now receive MNT 105,000 a month would receive an additional MNT 75,000 after the change. It is also estimated that the overall cost of the change would be about MNT 60 billion per month.
Please note that this article has not been written, is not copyrighted and does not in any case represent the views or opinions of M.A.D. Investment Solutions or any of its affiliate individuals or companies. The article above is purely meant for information only to readers and does not constitute a legal or biding agreement in any way, shape or form. For contact and comments directly relating to the above article, please refer to the source as stated below.
Source : News.mn
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