RESOLUTION OF THE CABINET OF MINISTERS OF THE KYRGYZ REPUBLIC

of November 4, 2022 No. 603

About approval of the Regulations on forming and budget implementation of Social fund of the Kyrgyz Republic

For the purpose of realization Articles 94,of 118 of the Budget code of the Kyrgyz Republic, according to articles 13, of the 17th constitutional Law of the Kyrgyz Republic "About the Cabinet of Ministers of the Kyrgyz Republic" the Cabinet of Ministers of the Kyrgyz Republic decides:

1. Approve Regulations on forming and budget implementation of Social fund of the Kyrgyz Republic according to appendix.

2. This resolution becomes effective after ten days from the date of official publication.

Appendix

to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic of November 4, 2022 No. 603

Regulations on forming and budget implementation of Social fund of the Kyrgyz Republic

1. General provisions

1. This Provision is developed according to the Budget code of the Kyrgyz Republic, the laws of the Kyrgyz Republic "About the national pension social insurance", "About Social fund of the Kyrgyz Republic", "About investment of means for financing of investment part of the state pension on the national social insurance in the Kyrgyz Republic" and other regulatory legal acts of the Kyrgyz Republic regulating the budget legal relationship.

2. The budget of Social fund of the Kyrgyz Republic (further - Social fund) - form of education and expenditure of the money intended for financial provision of tasks and realization of state policy in the sphere state social and provision of pensions.

3. The distributor of budget funds of Social fund is the Social fund of the Kyrgyz Republic under the Cabinet of Ministers of the Kyrgyz Republic.

4. The budget of Social fund annually affirms the law of the Kyrgyz Republic.

5. The performance report of the budget of Social fund annually is considered and accepted by the decision of Jogorku Kenesh of the Kyrgyz Republic.

2. Bases of the budget process

6. Budget statements of Social fund for the next fiscal year and planning period, and the annual statement about its execution are created according to the requirements of the Budget code of the Kyrgyz Republic, regulatory legal acts regulating the budget legal relationship and this Provision.

7. Creation and budget implementation of Social fund are performed according to Budget classification of the Kyrgyz Republic on income types and expenses by the relevant articles and elements of economic classification of the income and expenses.

8. Forming of the budget statement of Social fund is performed on the basis:

1) the main directions of fiscal policy for the medium-term period;

2) forecast of social and economic development of the Kyrgyz Republic;

3) the analysis of execution of budgets for previous periods;

4) statistical data.

9. Forming, approval and budget implementation of Social fund are performed on the basis of the principle of balance.

10. Forming of the draft of the annual statement about budget implementation of Social fund is performed on the basis:

1) execution of indicators according to the income on economic classification;

2) execution of indicators on expenses on economic classification;

3) budget implementation of the State accumulation pension fund according to the income and expenses;

4) indicators on turnover cash.

11. Drafts of the laws on the budget of Social fund and reports on its execution are created by Social fund of the Kyrgyz Republic under the Cabinet of Ministers of the Kyrgyz Republic in coordination with the interested state bodies of the Kyrgyz Republic and the Supervisory board on management of the national social insurance.

3. Contents of the bill on the budget

12. The bill on the budget of Social fund for the next fiscal year and planning period contains the following key parameters of the budget:

1) the total amount of the income, including the total amount of the transfers received from the republican budget;

2) total amount of expenses;

3) size of turnover cash.

13. The bill on the budget of Social fund for the next fiscal year and planning period includes the following appendices:

1) the explanatory note to the bill;

2) appendix 1 - "The budget of Social fund for the next fiscal year and planning period";

3) appendix 2 - "Budget receipts of Social fund for the next fiscal year and planning period";

4) appendix 3 - "Expenses of the budget of Social fund for the next fiscal year and planning period";

5) appendix 4 - "The budget of the State accumulation pension fund for the next fiscal year and planning period".

14. The explanatory note to the bill on the budget of Social fund contains information on economic case of all profitable and budget expenditures.

4. Forming of budget receipts of Social fund

15. Budget receipts of Social fund are created according to the legislation of the Kyrgyz Republic and include:

1) compulsory insurance premiums of insurers and insured persons;

2) voluntary insurance premiums of legal entities and physical persons (including foreign);

3) means of pension accruals from the accumulation pension funds;

4) penalty fee and penalties for untimely and incomplete transfer of insurance premiums;

5) the means collected from employers and citizens as a result of presentation of recourse requirements;

6) funds for pension payment for the special working conditions transferred by employers;

7) the capitalized amounts for pension payment and benefits to employees of the liquidated companies;

8) dividends according to the stocks of the companies owned by Social fund;

9) income gained from placement of available funds of Social fund in the form of deposits in commercial banks and government securities;

10) assignments from the republican budget;

11) investment incomes of means of pension accruals;

12) the grants received from the international organizations;

13) other income which is not contradicting the legislation of the Kyrgyz Republic.

16. The amount of receipts of insurance premiums is determined proceeding from the established rates of insurance premiums according to the Law of the Kyrgyz Republic "About rates of insurance premiums by the national social insurance".

17. Basic data for calculation of amount of insurance premiums are:

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