Parliament approved two bills concerning herders
The first bill concerns pensions and benefits allotted from social insurance fund.
Parliament approved two bills concerning herders. The first bill concerns pensions and benefits allotted from social insurance fund. It includes provisions such as ‘maternity benefit will be calculated regardless of the type of insurance’, ‘legal environment will be created for no discontinuation of social insurance fee for mothers on maternity leave for up to three years’, ‘mothers’ working years will be added by 1.6 year per child’, and ‘retirement age of herders will be advanced by 5 years’. In accordance with the law, male herders who worked for 20 years, 15 years of which were spent on animal husbandry will retire at the age 55, and female herders who worked for 20 years, 12 years and 6 months of which were spent on animal husbandry will retire at the age 50.The current law allows herders to retire at the ages 60 and 55. The newly adopted law will come into effect on January 1, 2018.The second bill allows herders and self-employed citizens to deposit pension insurance fees they weren’t able to deposit between 1995 and 2000. With adoption of the law, about 491 thousand people can deposit their pension insurance fees they couldn’t deposit between 1995 and 2000; and if all herders and self-employed citizens submit their fees, MNT 566.4 billion can be collected to social insurance fund. The law will take effect on January 1, 2018.
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