Kyrgyzstan, Uzbekistan Agree On Draft Pension And Social Insurance Agreements

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, August 19. Experts from the Social Fund of Kyrgyzstan and the Off-Budget Pension Fund under the Ministry of Economy and Finance of Uzbekistan held talks in Tashkent, Trend reports via the Social Fund.

Subsequent to the deliberations, the stakeholders reached a consensus on preliminary accords pertaining to state social insurance and pension provisioning, in conjunction with a governance framework for their operationalization. The documentation was calibrated in accordance with prevailing national statutes, and the configurations of supplementary documents were likewise synchronized.

The accords are designed to facilitate equitable entitlements for the citizenry of Kyrgyzstan and Uzbekistan concerning pension disbursements and social insurance provisions, while concurrently mitigating the risk of dual remittance of insurance contributions. Essential stipulations encompass the acknowledgment of insurance tenures accrued in both jurisdictions for pension qualification; the unmediated disbursement of pensions to nationals irrespective of their domicile, devoid of any deduction for delivery expenses; and regulations governing secondment and term extensions to circumvent dual contributions.

The execution of the accords is anticipated to fortify bilateral dynamics and facilitate expansive socio-economic synergies, particularly in the realm of significant infrastructural undertakings like the China–Kyrgyzstan–Uzbekistan railway initiative.

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