Turkmenistan’s New Pension Scheme Presented to Stakeholders  Ashgabat, 26 March 2009 – A new pension scheme of Turkmenistan was presented to stakeholders by the Ministry of Social Welfare at a round-table which was organized within the framework of UNDP Project “Support to Social Protection System Development.” The round table brought together representatives of the Government and Parliament of Turkmenistan, as well as leading institutions of the economic sector who are involved in implementing pension reform in Turkmenistan.
First Deputy Social Welfare Minister Seyytmammed Akmamedov and UNDP Deputy Resident Representative Inita Paulovica led the discussions. They emphasized that the success of pension reform will eventually depend on confidence placed in it by ordinary people. “It is of utmost importance that we keep people informed of the pace of reforms and involve state institutions in open discussions,” said Inita Paulovica. The round table discussed major aspects of the proposed new pension scheme which is based on defined contributions from individuals as opposed to the existing redistributive pension system. UNDP Project Technical Advisor Bayramglych Urazov presented the Social Welfare Ministry’s vision of the new pension scheme introduction in Turkmenistan and highlighted its basic differences and advantages. Under the new model, all people of Turkmenistan will be covered by pension insurance and receive pension benefits according to their contributions. This means that amount of pension benefits will depend on the work period amount of contributions made by the individual and average life expectancy indicators. The state will also guarantee non-contribution rights like maternity, child care and social allowance, at the expense of the Central Budget. The round table participants act as members of a working group to coordinate all activities relating to the introduction of the new pension scheme such as adoption of new pension legislation and formation of Pension Fund. The participants also proposed to establish a State Committee comprised of senior level officials to oversee the introduction of the new pension scheme in Turkmenistan in 2012. The discussions will be continued nationwide at a series of similar roundtables in the course of few coming weeks. UNDP Project “Support to Social Protection System Development” started in 2005 to support the Government of Turkmenistan in designing strategy for further development of the social protection system and national capacity in social protection system planning and management. It also aims to increase national capacity in developing social assistance policy and delivering institutional care services to lonely elderly and disabled persons. *** UNDP is the UN’s global development network, advocating for change and connecting countries to knowledge, experience and resources to help people build a better life. We are on the ground in 166 countries, working with them on their own solutions to global and national development challenges. As they develop local capacity, they draw on the people of UNDP and our wide range of partners. For more information please contact: Timur Dosmamedov, Communications Associate UNDP Turkmenistan
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