Ulaanbaatar
Cabinet considers submitting bill on Pension reserve fund for future
PoliticsUlaanbaatar /MONTSAME/ At its irregular meeting of Friday evening, the cabinet approved a bill on future pension reserve fund and decided to submit it to parliament.
The bill has been prepared in order to renovate the pension insurance system, to ensure financial stability of the pension fund, and to implement the objectives reflected in the State Policy on Renovation in Pension System.
A pension reserves fund should be established with a purpose to meet the financing required to compensate the expected deficit of pension insurance fund and which may occur during a shift from pension account system to accumulation system.
Establishing of such a fund is supposed to facilitate a creation of the fund accumulations based on name accounts, to add long-term financial sources to the stock market, and to allow coordination between these changes and the implementation of state incentive policy on housing apartments.
