Ulaanbaatar
Social Insurance Fund Revenue Increases by MNT 315.5 Billion
Society
Ulaanbaatar, April 18, 2025 /MONTSAME/. In the first quarter of 2025, the Social Insurance Fund of Mongolia recorded revenues totaling MNT 1,573.5 billion, an increase of MNT 315.5 billion compared to the same period in 2024.
The growth in revenue was largely driven by the Pension Fund, which contributed an additional MNT 259.4 billion, and the Benefits Insurance Fund, which saw an increase of MNT 23.6 billion.
In the first quarter of this year, expenditures from the Social Insurance Fund reached MNT 1,443.2 billion, marking an increase of MNT 326.9 billion compared to the same period of the previous year. The main contributors to this increase were the Pension Fund, with expenditures up by MNT 278.8 billion, and the Benefits Insurance Fund, with expenditures up by MNT 26.3 billion.
During the first quarter, the Pension Fund provided a total of MNT 1.3 trillion as pension payments to 513,800 citizens. This reflects an increase of 13,200 recipients and MNT 279.9 billion in disbursed pensions compared to the same period in 2024.
Among pension recipients, 79.2 percent were old-age pensioners, 12.5 percent were persons with developmental challenges, 4 percent were survivors of deceased providers, and 4.3 percent were military pensioners. The Benefits Insurance Fund distributed MNT 117.4 billion to 47,700 thousand people in the first quarter of 2025, representing an increase of 17,300 thousand beneficiaries and MNT 46.9 billion in benefits compared to the same period last year.
Maternity and childbirth benefits were provided to 13,300 individuals, amounting to MNT 51.5 billion, which is a rise of 2,600 recipients and MNT 19.2 billion in benefits from the first quarter of 2024.
A total of MNT 643.6 billion in social welfare benefits was provided to 2.2 million individuals in the first quarter of this year. This represents a decrease of 102,000 beneficiaries compared to last year, although the total amount of pensions and benefits disbursed increased by MNT 60.9 billion.
Of these receiving social welfare services, 59.2 percent were beneficiaries of child allowances, 7.1 percent received support for mothers and single parents with multiple children, 6 percent received social welfare benefits, 3.9 percent accessed social welfare and development services, 2.6 percent were pension recipients, and 21.2 percent received other forms of support.
