Ulaanbaatar
"Average pension increases by 29.7 percent to MNT 548.4 thousand"
Society
Ulaanbaatar /MONTSAME/ At its
meeting today, on February 1, the Cabinet approved the Resolution No 63 on raising
retirement pension, Minister of Labour and Social Protection announced.
The resolution includes an
article on increasing pensions provided from the Social Insurance Fund and
military service pension by 15 percent. It also states “to bring minimum pension
to MNT 500 thousand and minimum reduced pension in proportion to MNT 400 thousand,” the Labour
Minister emphasized. As per the meeting minutes, Minister of Finance and the
Labour Minister have been ordered to distribute pension payments with promptitude.
Minister A.Ariunzaya said, “The
pensions and benefits are being raised by 15 percent in accordance with the inflation
rate. At the end of 2021, the National Statistics Office reported the consumer
price index change at 14.3 percent. According to data from December 2021, 458.7
thousand people are paid pensions with 60 percent or 271 thousand of whom receiving
low pensions”
Yesterday, on January 31, the
State Great Khural approved amendments to the 2022 state budget, earmarking MNT
637 billion for the social pension and benefit increases. With this, 197.1
thousand people are getting a pension increase of MNT 50 thousand, 72.3
thousand people – MNT 100 thousand, and 200 thousand people – MNT 150 thousand,
which raises average pension by 29.7 percent to MNT 548.4 thousand.
The resolution covers 469 thousand people in addition, who receive occupational injury and disease benefits, survivor’s pension and invalidity
pension, the Minister said.
