September 17, 2008

Kyrgyz Leader Signs Decree on Increasing Pensions

Excerpt from report by privately-owned Kyrgyz AKIpress news agency website

Bishkek, 18 September: Kyrgyz President Kurmanbek Bakiyev has signed a decree "On increasing pensions", the president's press service has said.

In line with the Kyrgyz president's decree aimed at supporting Kyrgyz pensioners' living standards, the basic rate of pension will be set at 530 soms [current exchange rate is 35.21 soms per one dollar] (a 17.8-per-cent increase). The decree also stipulates increasing the insurance portion of pensions by 17 per cent.

Thus, the total amount of pensions, taking into account compensatory payments for electricity in 2008, will increase from 1,114 soms to 1,441.7 soms (or by 29.4 per cent) from 1 October.

[Passage omitted: The pension rise is financed by the Kyrgyz pension fund]

Originally published by AKIpress news agency website, Bishkek, in Russian 1216 16 Sep 08.

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