Uzbekistan raises rate of mandatory insurance fee to Pension Fund

Tashkent, Uzbekistan (UzDaily.com) -- The Government of Uzbekistan increased a rate of mandatory insurance fee of citizens to off-budget Pension Fund under the Ministry of Finance of Uzbekistan from 1 January 2017.

New rates were set by the resolution of the President of Uzbekistan “On forecast of main macroeconomic figures and parameters of State Budget of Uzbekistan for 2017”.

According to the resolution, the rate of mandatory insurance fee of citizens from their income as salaries to off-budget Pension Fund under the Ministry of Finance grew by 0.5 percentage point to 8%.

Last time, the Government of Uzbekistan decreased the rate of mandatory insurance fee of citizens to off-budget Pension Fund under the Ministry of Finance of Uzbekistan in January 2016. That time the rate rose from 7% to 7.5%.

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