ORDER OF THE MINISTER OF FINANCE OF THE REPUBLIC OF UZBEKISTAN

of November 27, 2014 No. 79

About approval of the Regulations on procedure for recalculation of pensions according to the Presidential decree of the Republic of Uzbekistan of November 21, 2014 No. UP-4672 "About Increase in the Sizes of the Salary, Pensions, Grants and Benefits"

According to the Presidential decree of the Republic of Uzbekistan of November 21, 2014 I order to No. UP-4672 "About Increase in the Sizes of the Salary, Pensions, Grants and Benefits":

1. Approve Regulations on procedure for recalculation of pensions according to the Presidential decree of the Republic of Uzbekistan of November 21, 2014 No. UP-4672 "About Increase in the Sizes of the Salary, Pensions, Grants and Benefits" according to appendix.

2. Declare invalid the Order of the Minister of Finance of the Republic of Uzbekistan of August 14, 2014 No. 55 "About approval of the Regulations on procedure for recalculation of pensions according to the Presidential decree of the Republic of Uzbekistan of July 31, 2014 No. UP-4639 "About Increase in the Sizes of the Salary, Pensions, Grants and Benefits" (reg. No. 2611 of August 18, 2014) (Collection of the legislation of the Republic of Uzbekistan, 2014, No. 34, the Art. 438).

3. This Order becomes effective from the date of its official publication.

Appendix

to the Order of the Minister of Finance of the Republic of Uzbekistan of November 27, 2014 No. 79

Regulations on procedure for recalculation of pensions according to the Presidential decree of the Republic of Uzbekistan of November 21, 2014 No. UP-4672 "About Increase in the Sizes of the Salary, Pensions, Grants and Benefits"

This Provision according to item 4 of the Presidential decree of the Republic of Uzbekistan of November 21, 2014 No. UP-4672 "About Increase in the Sizes of the Salary, Pensions, Grants and Benefits" determines conditions of recalculation of pensions.

1. Since December 15, 2014 in the territory of the Republic of Uzbekistan the minimum sizes are established:

the salary - 118 400 sum a month;

old-age pensions - 231 575 sum a month;

benefits to disabled people since the childhood in the amount of 231 575 sum a month;

old-age benefits and to the disabled citizens who do not have necessary length of service in the amount of 142 100 sum a month.

2. For equalization of earnings from which the pensions which are again granted after December 15, 2014 using individual coefficients of earnings are estimated (entered since October 1, 2011) the minimum sizes of the salary according to appendix to this Provision are accepted.

3. Sheets on pension payment and benefits, and also postal money transfers for December, 2014 are constituted by district (city) departments of the off-budget Pension fund under the Ministry of Finance of the Republic of Uzbekistan in the terms established by the legislation taking into account increase in their sizes in time 1,05.

4. For pension calculation average monthly earnings in the amount not above the eightfold size of minimum wage are accepted (118 400 sum x 8 = 947 200 sum).

5. If the size of the new average monthly salary, taking into account application of individual coefficient of earnings, constitutes eightfold minimum wage and above, recalculation of pension is performed from earnings in the amount not above the eightfold size of minimum wage of 947 200 sum (118 400 bags x 8) by its multiplication by the percent accepted for calculation of pension depending on duration of length of service.

6. In case of absence at retirement pensioners or on disability of I and II groups of the length of service necessary for establishment of pension according to articles 7 and 17 of the Law of the Republic of Uzbekistan "About the state provision of pensions of citizens", the pension size in case of recalculation is determined in the amount of, pro rata to the available years of service.

7. In all cases of the allowance to pensions are determined proceeding from minimum wage (118 400 bags).

8. This Provision is approved with the Ministry of Labour and Social Protection of the population of the Republic of Uzbekistan.

Appendix

to Regulations on procedure for recalculation of pensions according to the Presidential decree of the Republic of Uzbekistan of November 21, 2014 No. UP-4672 "About Increase in the Sizes of the Salary, Pensions, Grants and Benefits"

The established sizes of minimum wage in the Republic of Uzbekistan

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