Ulaanbaatar
Representatives of Singapore’s Central Provident Fund arrive in Mongolia
Society
Ulaanbaatar
/MONTSAME/. The representatives of the Central Provident Fund of the Republic
of Singapore arrived in Mongolia to provide consulting services for the
establishment of Mongolia’s Unified Accumulation Fund.
The representatives of the Central Provident Fund of Singapore were received by Deputy Minister of Labor and Social Protection S.Zulpkhar and Secretary of State G.Unurbayar.
The Government of Mongolia aims to establish a unified accumulation fund, gradually transition to a system that provides comprehensive solutions to education, health, pension, housing, and social security services, reduce poverty, and raise the standard of living.
During
the Prime Minister of Mongolia’s visit to the Republic of Singapore in July, the
Ministry of Labor and Social Protection signed a memorandum of understanding to
receive consulting services from the Singapore Cooperation Enterprise regarding
the introduction of the unified accumulation fund system of Singapore to
Mongolia.
The
consulting service team will work in Mongolia on August 10-16, share the
experience of creating and developing the system, and assess and identify the
problems and delays in the current governance and policies of the pension fund
and social welfare system.
