Улаанбаатар
The Government of Mongolia Raises Pensions by Six Percent
Politics
Ulaanbaatar, December 19, 2024 /MONTSAME/. During its regular session on December 18, 2024, the Cabinet of Mongolia discussed The Law on Pensions provided by the Social Insurance Fund of Mongolia (SIF). The law stipulates that "pension amounts shall be increased annually, starting January 1, 2025, based on the average annual inflation rate of the previous year." In compliance with this provision, the Government of Mongolia has issued a resolution to increase pension amounts and update the minimum pension thresholds.
Under this resolution, pensions provided by the Social Insurance Fund of Mongolia, including military pensions, will be increased by six percent. The Minister for Family, Labor, and Social Protection, Enkh-Amgalan Luvsantseren, has been instructed to implement these increases within the approved budget.
Furthermore, the minimum full pension and minimum military pension provided by the Social Insurance Fund of Mongolia will be set at MNT 689,000, and the minimum proportionally calculated pension at MNT 572,400.
The Government Resolution will take effect on January 1, 2025. To accommodate the six percent pension increase, MNT 297.4 billion has been included in the 2025 budget for the Social Insurance Fund of Mongolia.
All Government Interactions with Enterprises to Be Integrated into the Unified State Service System "e-Business"
The draft Law aiming to enhance the Government Productivity has been prepared and will be discussed at the Cabinet Meeting.
Within this framework, amendments and additions to the Law on Permits will be developed to ensure the coordination of legislation and other legal acts regulating permits and permit-related relations provided by the government.
Minister of Mongolia and Head of the Cabinet Secretariat of Mongolia Uchral Nyamosor has been instructed to develop a unified methodology for integrating, implementing, and evaluating the performance plans of all state and local administrative bodies and their employees, to align them with long, medium, and short-term Development Policy indicators and economic benchmarks. If necessary, proposals for amending relevant legislation will be submitted.
The National Committee on State Productivity of Mongolia has been tasked with organizing the integration of all interactions between the government and enterprises into the Unified State Service System, "e-Business," to foster a favorable business environment.
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