Uzbekistan puts pension reform draft up for public discussion

According to the draft decree "On measures to ensure public welfare and reform the pension provision system," it is proposed to increase the standard retirement age by three months annually starting on January 1, 2028. By 2039, the threshold is to reach 63 years for men and 58 years for women, compared with the current 60 and 55 years. At the same time, the document prohibits dismissing employees or refusing to hire them due to reaching pre-retirement age, while unemployed individuals will retain the right to retire two years ahead of schedule.

The draft also provides for raising the minimum work experience from the current 7 years to 15 years by 2034 through an annual one-year increment starting in 2027. Abror Kholmatov, head of a department at the Pension Fund, explained to Kun.uz that while in 2010 around 6% of pensions were granted with minimum service, this figure has now reached almost 60%. Citizens can build work experience by registering as self-employed and paying social tax.

The earnings calculation period used to determine benefits is planned to be phased up from 5 to 20 years starting in 2027, excluding the 10% of time with the lowest income. Starting in 2027, it is also planned to co-finance voluntary pension savings of citizens with salaries below 15 base values for pension calculation (BVPC), and starting in 2030, it is proposed to allow funds in cumulative accounts to be spent on treating severe diseases and making down payments on mortgages.