LAW OF THE KYRGYZ REPUBLIC

of April 30, 2024 No. 81

About introduction of amendments to the Law 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"

Accepted by Jogorku Kenesh of the Kyrgyz Republic on April 3, 2024

Article 1.

Bring in the Law 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" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2011, No. 7, the Art. 981) the following changes:

The word "(reserve)" to exclude 1) regarding the 2nd Article 3;

Part 2 of Article 5 to add 2) with Item 12 of the following content:

"12) to create reserve fund for ensuring financial stability of GNPF. The procedure for forming and use of means of reserve fund of GNPF is determined by the Supervisory board by management of the national social insurance. Investment of means of reserve fund of GNPF is performed according to this Law.";

3) in Article 6:

a) regarding 1 word "(reserve)" to exclude;

b) add part 5 with Item 6 of the following content:

"6) on creation of reserve fund for ensuring financial stability of GNPF.";

Part 1 of Article 19 to add 4) with Items 7 and 8 of the following content:

"7) in precious metals (gold, silver, platinum) in the amount of no more than 10 percent of cost of pension accruals;

8) in securities of National Bank of the Kyrgyz Republic.".

Article 2.

This Law becomes effective after fifteen days from the date of official publication.

To the Cabinet of Ministers of the Kyrgyz Republic in six-months time to bring the regulatory legal acts into accord with this Law.

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