An amount of 300 million dinars was allocated to vary the sources of financing of social insurance funds divided between 60 million dinars for early retirement, 31 million dinars for an automatic adjustment of pensions and 18 million dinars to fill the deficit of social funds, said the same source.
The adoption of the pension reform bill would solve 60% of the budget deficit of social funds, added the Minister of Social Affairs, stressing the need to start a new round of consultations with the UTICA and the UGTT to reach agreements ensuring a balance of social funds.
The Off-Budget Pension Fund under the Uzbek Finance Ministry and the Social Fund
of Kyrgyzstan signed an agreement on cooperation in the field of social insurance and pension provision, UzDaily news agency reported.
The Social Fund
will collect documents for pensioners in Kyrgyzstan.
It should be pointed out that the draft finance law 2017 has planned to disburse 500 MTD to reduce the gap of the social funds
The conference is attended by the Kyrgyzstani MPs, as well as the representatives of international social insurance institutions in Western and Eastern Europe, the press service of the Social Fund
Another important question asked about social funds
is, "Do they really make a difference?" While many mainstream investment houses take the view that social investing does little more than make investors feel better about themselves, social investment firms strongly argue that they do make a difference.
"Right across our services, the majority of really hard-pressed families are struggling to repay Social Fund
The proposals to introduce reforms to the social funds
include the revision of the retirement age, the diversification of funding sources, the increase in the contribution and the generalisation of social security coverage, added Trabelsi.
"The crisis of the social funds
can be overcome only by the involvement of the social partners (UGTT, UTICA), MPs and the civil society," Minister of Social Affairs, Mahmoud Ben Romdhane argued on Tuesday.
In his speech to the House of People's Representatives (HPR) at a plenary session dedicated to the vote of confidence in the new cabinet members, Youssef Chahed added that the various parties responsible for the social funds
had agreed on the need to launch a reform package based on three axes: raising the retirement age, increasing the pension contribution, and raising the rate of social contribution.
On 6 November, the Socialist group approved an amendment that was tabled in plenary with the aim to reinstate the 25% ratio earmarked for the European Social Fund
. The amendment is "worth" 325 billion euro.