Ulaanbaatar
Longevity grant to be issued this February
PoliticsUlaanbaatar /MONTSAME/ During its regular meeting on January 25, the Cabinet discussed and approved the procedure for issuance of Longevity grant for elders.
N.Nomtoibayar, Minister for Labor and Social Protection was assigned to see to the issuance of the grant starting this February.
Law of Mongolia on Elders’ Social Protection reflects that elders will receive a Longevity grant twice a year on national holidays Tsagaan sar and Naadam. In compliance with this, elders of age 65-69 will be given MNT 50 thousand, 70-79 MNT 80 thousand, 80-89 MNT 150 thousand and elders above 90 will receive MNT 250 thousand.
Following document submission and related process, elders meeting the age requirement or their confidential legal person will receive the benefit through a commercial bank which established an agreement with the corresponding government organization in charge of social welfare. The law also states that the benefit will be issued to a legal person of elders living abroad after accreditation by a diplomatic mission in the country.
The commercial banks will initiate a bank account for longevity grant for free. The Longevity grant procedure also authorizes that the banks won’t charge elders transaction fee of any kind. More importantly, the benefit won’t be deducted in repayment of pension loan or any loan and loan interest.
The Longevity grant will be issued to some 122 thousand elders on national level in 2017. Age-wise, there are 43,089 elders aged between 65 and 69, 57,624 elders of age 70-79, 18,700 elders of age 80-89 and 2,492 elders aged above 90.
