Pensions in Uzbekistan will be available on an e-wallet starting in 2027
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Gazeta.uz
gazeta.uz

Pensions in Uzbekistan will be available on an e-wallet starting in 2027

Starting from April 2027, pension recipients in Uzbekistan will be able to receive their payments not only to a bank card but also to a special electronic wallet accessible through the bank's mobile application. This innovation is enshrined in a presidential decree issued on September 28.

In parallel, as of November 1, 2026, a requirement is being introduced to use Face ID biometric identification for opening bank cards for pensioners.

The Central Bank, together with commercial banks, intends to implement a new mechanism for financing pension payments through a single commercial bank account, which will come into force on April 1, 2027. Thus, pensions and other benefits can be credited either to a traditional bank card or to a pension e-wallet created in the bank's mobile application.

Furthermore, starting January 1, 2027, citizens will have the option to request the transfer of pension payments into cash form or restore previously suspended payments through the Unified Portal of Interactive Public Services or public service centers.

Another important change affects employees entitled to pensions under preferential conditions. The Ministry of Employment and Poverty Reduction has been instructed to develop functionality within the interdepartmental software and hardware complex 'Unified National Labor System' by November 1, 2026, allowing employers to keep records of data on special work experience.

According to the new requirements, employers will be obliged to record periods of employment that grant the right to a preferential pension, as well as provide information on the results of workplace assessments regarding working conditions and equipment hazard levels in electronic form. This should facilitate the process of confirming special experience when awarding a pension and reduce the need for paper documents.

Separately, the 'Uzarkhiv' agency has been tasked with accepting documents from liquidated enterprises and organizations that were not previously transferred to state archives by April 1, 2027. This specifically refers to wage accounting books, appointment and dismissal orders, and other documents necessary to confirm work experience and salary amount. These documents will be accepted free of charge in exceptional cases.

As part of the 'roadmap,' further integration of the Pension Fund's information systems with databases of other agencies is planned. It is planned to automate the process of obtaining archival data on experience and earnings, as well as expand electronic information exchange with state structures.

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State Proposes to Co-finance Voluntary Pension Savings for Uzbek Citizens by Up to 50%
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podrobno.uz

State Proposes to Co-finance Voluntary Pension Savings for Uzbek Citizens by Up to 50%

The Ministry of Economy and Finance proposes introducing a state co-financing system for voluntary pension savings in Uzbekistan. According to this proposal, if a citizen contributes 5% of their salary monthly to their savings pension account, the state can compensate up to 50% of the amount they contributed.

This co-financing measure is aimed at citizens whose average monthly income does not exceed 15 basic units for pension calculation. A different approach is provided for individuals with higher incomes: 1% of the income exceeding the established threshold will be directed to the savings pension account through a social tax. It is planned that this share will increase to 2% by 2033 and reach 3% by 2040.

It is important to note that all the provisions mentioned so far remain only proposals within the draft document, and the final details of the pension reform may be adjusted after the completion of discussions scheduled before September 30.

Furthermore, as part of the same reform, a gradual increase in the retirement age is being considered: for men, it is proposed to raise it from 60 to 63 years, and for women, from 55 to 58 years.

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