ORDER OF THE GOVERNMENT OF THE REPUBLIC OF TAJIKISTAN

of September 25, 2015 No. 588

About the Procedure for indexation of pensions and the conditional pension capital

According to article 51 of the Law of the Republic of Tajikistan "About insurance and national pensions" and article 51 of the Law of the Republic of Tajikistan "About regulatory legal acts" the Government of the Republic of Tajikistan decides:

1. Approve the Procedure for indexation of pensions and the conditional pension capital it (is applied).

2. Declare invalid the Order of the Government of the Republic of Tajikistan of August 3, 2013, No. 343 "About the Instruction about procedure for indexation of insurance and work pensions".

3. Enact this resolution since September 1, 2015.

Approved by the Order of the Government of the Republic of Tajikistan of September 25, 2015, No. 588

Procedure for indexation of pensions and conditional pension capital

1. General provisions

1. This Procedure is developed according to part 3 of article 51 of the Law of the Republic of Tajikistan "About insurance and national pensions" and determines procedure for indexation of insurance part of insurance pensions, work pensions (without allowances and surcharges) and the conditional pension capital of insured persons.

2. Indicators of the state authorized body according to the statistics which are published in official publications are applied to indexation of pensions and the conditional pension capital.

3. Indexation of pensions and the conditional pension capital is made by the relevant division of the state authorized body in the sphere of provision of pensions.

4. Financing of costs for carrying out indexation of insurance part of insurance pensions, work pensions and the conditional pension capital is made at the expense of means of the state authorized body in the sphere of provision of pensions.

5. Indexation of pensions, the conditional pension capital and determination of percent of indexation is made based on the Presidential decree of the Republic of Tajikistan.

2. Procedure for indexation of pensions

6. Indexation of insurance part of insurance pensions and work pensions is made annually once according to consumer price index on the republic for the previous financial year.

7. Indexation of work pensions begins to be made since 2018.

8. Indexation of insurance part of insurance pensions and work pensions is applied to those pensions which size constitutes less 15-fold size of the established basic pension.

3. Procedure for indexation of the conditional pension capital

9. The conditional pension capital of insured persons reflected in their individual personal accounts is indexed annually once.

10. Indexation of the conditional pension capital created during the period from January 1, 1999 to January 1 2013, is made according to indicator of annual level of growth of the average salary on the republic, on the basis of the data of authorized state body according to the statistics provided in the following table:

11. Since the beginning of 2014 indexation of the conditional pension capital created during the period from January 1, 1999 to January 1, 2013 is made according to the level of annual consumer price index.

12. The conditional pension capital determined as a result of converting (transformation) of the pension rights of insured persons till January 1, 1999 is reflected in their individual personal accounts as of January 1, 2013.

13. The pension contributions which arrived on individual personal account of insured persons within year of the request for purpose of insurance pension are not subject to indexation and in case of calculation of pensions the actual amount is considered.

14. Indexation of the conditional pension capital which arrived on individual personal accounts of insured persons after January 1, 2013 and also the conditional pension capital received as a result of converting of their pension rights since 2014 is made based on the level of annual consumer price index on the republic.

15. The conditional pension capital determined as a result of converting (transformation) of the pension rights of insured person since 2014 annually is indexed according to the procedure, provided by conditional example of indexation of the conditional pension capital of insured person of this Procedure.

16. The example of conditional indexation of the conditional pension capital of insured person is applied to this Procedure.

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