Ulaanbaatar
Government allows making up pension shortfall
Politics
Ulaanbaatar /MONTSAME/. At its session held today, December 30, the Cabinet made a decision allowing citizens, who could not set up a pension plan from the Social Insurance Fund, to make up for lost pension contributions on their own choice.
The minimum amount of pension contributions was set at MNT 42 thousand, which equals to 10 percent of minimum wage MNT 420 thousand. It is estimated that around 88 thousand herders and self-employers will pay pension contribution to make up for shortfall for retirement.
