The Pension Fund under the Ministry of Economy and Finance

The pension fund is an organization that carries out material supports for pensioner, those who have lost their breadwinners, people with disabilities and low-income families in Uzbekistan.

History

According to the decision of Cabinet of Ministers under the President of the Uzbek Soviet Socialist Republic from January, 14th, 1991 № 9 Republican branches of the Pension fund of the USSR were established.

With a view of realization of the state guarantees in the system of social security and increase of the control over a correct and effective expenditure of means of social insurance according to the decision of the Cabinet of Ministers and the Federation Council of trade unions of the Republic of Uzbekistan from August, 4th, 1993, № 391 on the basis of the Uzbek Republican branch of the Pension fund of the former USSR there has been formed Social insurance Fund under the Cabinet of Ministers of the Republic of Uzbekistan, having transferred to it from the system of the Federation Council of trade unions of Uzbekistan assets of the state social insurance directed on payment of temporary disability allowances, maternity allowance, maternity grants and funeral allowance.

For the further perfection of the system of social protection of the population, increase of responsibility of bodies of social security for completeness of receipt of obligatory payments for a provision of pensions and timely financing of expenses on payment of pensions and grants on the state social insurance according to the decision the Cabinet of Ministers of the Republic of Uzbekistan from December, 27th, 1996 № 459 on the basis of the social insurance Fund under the Cabinet of Ministers of the Republic of Uzbekistan there has been formed the Pension fund at the Ministry of Social Welfare of the Republic of Uzbekistan with corresponding territorial branches and departments at the Ministry of Social Welfare of the Republic of Karakalpakstan and local bodies of social security.

According to the decision of the Cabinet of Ministers of the Republic of Uzbekistan from November, 15th, 2000 № 444 the Pension fund under the Ministry of Social Welfare of the Republic of Uzbekistan since January, 1st, 2001 has been transformed to the off-budget Pension fund of the Republic of Uzbekistan. Thus maintenance of timely charge and payments of pensions, and also grants and financing of expenses on payment of pensions, allowances on the state social insurance have been assigned to the Ministry of Labor and Social Protection of the population of the Republic of Uzbekistan.

According to the decision of the Government of the Republic of Uzbekistan from October, 21th, 2004 № 490 since January, 1st, 2005 the off-budget Pension fund of the Republic of Uzbekistan has been transformed to the off-budget Pension fund under the Ministry of Finance of the Republic of Uzbekistan.

According to the Law of the Republic of Uzbekistan «On the state provision of pensions of citizens» and with a view of the further perfection of organizational structure of the system of a provision of pensions, timely financing and realization in full payments of pensions and social benefits from an off-budget Pension fund under the Ministry of Finance of the Republic of Uzbekistan, and also increase in control over targeted use of the assets directed to a provision of pensions of citizens of republic, by the Decree of the President of the Republic of Uzbekistan from December, 30th, 2009 № 4161 since January, 1st, 2010 assignment, financing, accounting and monitoring of payment of pensions, and also social allowances, compensatory and other payments are carried out by corresponding territorial divisions of the Pension fund. Thus territorial divisions of an off-budget Pension fund under the Ministry of Finance of the Republic of Uzbekistan have been formed at the expense of a transfer of function and the corresponding structures entering into the system of the Ministry of Labor and Social Protection of the population, issues of a provision of pensions responsible for all complex and medical labor examination of citizens.

References

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