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2004-12-02 | 702-II

Added 2026-08-13

Law of the Republic of Uzbekistan on Accumulative Pension Provision of Citizens

The Law establishes the legal framework for the accumulation-based pension system in Uzbekistan, mandating compulsory participation for employers and employees while allowing voluntary participation for individual entrepreneurs and other citizens. It defines the roles of the Halk Bank in managing individual accounts, the calculation and payment of mandatory and voluntary pension contributions, and the state's guarantee of fund safety. The legislation outlines the procedures for account registration, the formation of pension funds through investments, and the oversight mechanisms involving the Ministry of Finance and tax authorities.

Uzbekistan

Central Bank of the Republic of Uzbekistan

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Indexation by CTU

Indexation by TMS

Source of changes

Official publication source

19.03.2024

07.02.2024

14.03.2022

21.04.2021

21.08.2015

10.09.2010

01.01.2005

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Russian Eng Uzbek O’zb Uzb|Russian

[ OKOZ: 1. 06.00.00.00 Legislation on social security and social insurance. Social protection / 06.06.00.00 Pensions / 06.06.17.00 Establishing disability] [ TSZ: 1. Socio-cultural issues / Social insurance, social security and social protection] Send a proposal for the document Listen to audio Get a reference from the document element Send a proposal for the document Listen to audio Get a reference from the document element Law of the Republic of Uzbekistan Send a proposal for the document Listen to audio Get a reference from the document element ON THE ACCUMULATIVE PENSION PROVISION OF CITIZENS Send a proposal for the document Listen to audio Get a reference from the document element Send a proposal for the document Listen to audio Get a reference from the document element I. General Provisions Send a proposal for the document Listen to audio Get a reference from the document element Article 1. Purpose of this Law [ OKOZ: 1. 06.00.00.00 Legislation on social security and social insurance. Social protection / 06.06.00.00 Pensions / 06.06.01.00 General provisions; 2. 06.00.00.00 Legislation on social security and social insurance. Social protection / 06.06.00.00 Pensions / 06.06.12.00 Accumulative pension provision (see also 06.03.05.00)] Send a proposal for the document Listen to audio Get a reference from the document element The purpose of this Law is to regulate relations in the field of accumulative pension provision of citizens. See previous edition. Send a proposal for the document Listen to audio Get a reference from the document element Send a proposal for the document Listen to audio Get a reference from the document element Article 2. Legislation on accumulative pension provision of citizens Send a proposal for the document Listen to audio Get a reference from the document element Legislation on accumulative pension provision of citizens consists of this Law and other legislative acts. Send a proposal for the document Listen to audio Get a reference from the document element If an international treaty of the Republic of Uzbekistan establishes rules other than those provided for in the legislation on accumulative pension provision of citizens of the Republic of Uzbekistan, the rules of the international treaty shall be applied. ( Article 2 in the edition of the Law of the Republic of Uzbekistan No. URQ-683 dated April 21, 2021 — National Database of Legislation Information, April 21, 2021, No. 03/21/683/0375) Send a proposal for the document Listen to audio Get a reference from the document element Article 3. Basic Concepts [ OKOZ: 1. 06.00.00.00 Legislation on social security and social insurance. Social protection / 06.03.00.00 Financing of social security and social insurance / 06.03.05.00 Accumulative pension account number (see also 06.06.12.00); 2. 06.00.00.00 Legislation on social security and social insurance. Social protection / 06.06.00.00 Pensions / 06.06.12.00 Accumulative pension provision (see also 06.03.05.00)] Send a proposal for the document Listen to audio Get a reference from the document element The following basic concepts are used in this Law: Send a proposal for the document Listen to audio Get a reference from the document element accumulative voluntary pension contributions — monetary funds deposited on a voluntary basis into a personal accumulative pension account; Send a proposal for the document Listen to audio Get a reference from the document element accumulative mandatory pension contributions — monetary funds deposited on a mandatory basis into a personal accumulative pension account; Send a proposal for the document Listen to audio Get a reference from the document element contributor (person making contributions) — a natural person or a legal entity employer making contributions for the benefit of the recipient of accumulative pension payments (hereinafter referred to as the employer in the text); [ SPiT: 1. Pension provision / Accumulative pension provision] Send a proposal for the document Listen to audio Get a reference from the document element accumulative pension provision — providing citizens with monetary funds in addition to the state pension from the funds in their personal accumulative pension accounts; Send a proposal for the document Listen to audio Get a reference from the document element personal accumulative pension account — a registered personal account of a citizen at the Halk Bank, into which accumulative pension contributions from contributors and interest accrued on the funds in the personal accumulative pension account are credited and accounted for. Send a proposal for the document Listen to audio Get a reference from the document element Article 4. Right to receive accumulative pension provision [ OKOZ: 1. 01.00.00.00 Constitutional system / 01.05.00.00 Population / 01.05.05.00 Foreign citizens and stateless persons; 2. 01.00.00.00 Constitutional system / 01.06.00.00 Rights, freedoms and duties of a person and citizen / 01.06.04.00 Basic (Constitutional) socio-economic rights and freedoms / 01.06.04.03 Right to receive social security in old age, loss of working capacity, as well as loss of a breadwinner; 3. 03.00.00.00 Civil legislation / 03.02.00.00 Citizens (natural persons) / 03.02.01.00 General provisions] Send a proposal for the document Listen to audio Get a reference from the document element Citizens of the Republic of Uzbekistan, as well as foreign citizens and stateless persons permanently residing in the territory of the Republic of Uzbekistan, have the right to receive accumulative pension provision. Send a proposal for the document Listen to audio Get a reference from the document element Article 5. State guarantees for accumulative pension provision [ OKOZ: 1. 01.00.00.00 Constitutional system / 01.06.00.00 Rights, freedoms and duties of a person and citizen / 01.06.05.00 Guarantee and protection of rights and freedoms. Ombudsman] Send a proposal for the document Listen to audio Get a reference from the document element The State guarantees the preservation and payment of funds accumulated in personal accumulative pension accounts of citizens participating in the accumulative pension system. Send a proposal for the document Listen to audio Get a reference from the document element II. Organization of the Accumulative Pension System Send a proposal for the document Listen to audio Get a reference from the document element Article 6. Participation in the accumulative pension system See previous edition. Send a proposal for the document Listen to audio Get a reference from the document element [ OKOZ: 1. 05.00.00.00 Legislation on labor and employment of the population / 05.02.00.00 Labor / 05.02.07.00 Labor contract (contract)] Send a proposal for the document Listen to audio Get a reference from the document element Participation of employers, as well as citizens carrying out labor activities on the basis of a labor contract, in the accumulative pension system is mandatory, unless otherwise provided by legislation. ( Part one of Article 6 in the edition of the Law of the Republic of Uzbekistan No. URQ-683 dated April 21, 2021 — National Database of Legislation Information, April 21, 2021, No. 03/21/683/0375) [ OKOZ: 1. 09.00.00.00 Entrepreneurship and economic activity / 09.01.00.00 Legislation on entrepreneurship / 09.01.03.00 Individual entrepreneurship; 2. 09.00.00.00 Entrepreneurship and economic activity / 09.14.00.00 Agriculture / 09.14.07.00 Farming households (personal auxiliary households)] Send a proposal for the document Listen to audio Get a reference from the document element Individual entrepreneurs, members of farming households not organized as a legal entity, as well as other citizens, participate in the accumulative pension system on a voluntary basis. LexUZ commentary For additional information, see: Article 3 of the Law of the Republic of Uzbekistan No. URQ-680 "On Farming Households" dated April 1, 2021. Send a proposal for the document Listen to audio Get a reference from the document element Article 7. Registration of citizens in the accumulative pension system See previous edition. Send a proposal for the document Listen to audio Get a reference from the document element Send a proposal for the document Listen to audio Get a reference from the document element Registration of citizens who have reached the age of 16 in the accumulative pension system is carried out simultaneously with the issuance of identification ID cards to them. Send a proposal for the document Listen to audio Get a reference from the document element Registration of citizens not registered in the accumulative pension system by June 1, 2021, is carried out by the branch of the Halk Bank at their place of residence using the individual identification number of the natural person. (Paragraphs one, two and three of Article 7 were replaced by paragraphs one and two on the basis of the Law of the Republic of Uzbekistan No. URQ-905 dated February 7, 2024 — National Database of Legislation Information, February 7, 2024, No. 03/24/905/0106) Send a proposal for the document Listen to audio Get a reference from the document element Registration in the accumulative pension system includes: Send a proposal for the document Listen to audio Get a reference from the document element opening personal accumulative pension accounts; Send a proposal for the document Listen to audio Get a reference from the document element issuing an accumulative pension booklet. Send a proposal for the document Listen to audio Get a reference from the document element The Halk Bank maintains personal accounts of citizens in the accumulative pension system in the manner established by the Cabinet of Ministers of the Republic of Uzbekistan. LexUZ commentary For detailed information, see the "Regulation on the Procedure for Personal Registration of Citizens in the Accumulative Pension System by the Halk Bank" approved by Resolution No. 595 of the Cabinet of Ministers of the Republic of Uzbekistan dated December 21, 2004. Send a proposal for the document Listen to audio Get a reference from the document element Information related to the maintenance of personal accounts of citizens in the accumulative pension system and personal accumulative pension accounts is formed and stored in the single electronic database of the Halk Bank. [ OKOZ: 1. 06.00.00.00 Legislation on social security and social insurance. Social protection / 06.03.00.00 Financing of social security and social insurance / 06.03.05.00 Accumulative pension account number (see also 06.06.12.00)] Send a proposal for the document Listen to audio Get a reference from the document element Article 8. Opening of personal accumulative pension accounts See previous edition. Send a proposal for the document Listen to audio Get a reference from the document element [ OKOZ: 1. 06.00.00.00 Legislation on social security and social insurance. Social protection / 06.03.00.00 Financing of social security and social insurance / 06.03.05.00 Accumulative pension account number (see also 06.06.12.00)] Send a proposal for the document Listen to audio Get a reference from the document element When being registered in the accumulative pension system, the Halk Bank opens personal accumulative pension accounts for citizens with a permanent personal sequence number assigned for life. The assignment of a sequence number to personal accumulative pension accounts is carried out based on information from the citizen's passport or identification ID card. (Paragraph one of Article 8 in the edition of the Law of the Republic of Uzbekistan No. URQ-759 dated March 14, 2022 — National Database of Legislation Information, March 14, 2022, No. 03/22/759/0213) See previous edition. Send a proposal for the document Listen to audio Get a reference from the document element Send a proposal for the document Listen to audio Get a reference from the document element If the information regarding the citizen's place of residence or work, or passport or identification ID card changes, the sequence number of the personal accumulative pension account remains unchanged, and opening a new personal accumulative pension account is not required. (Paragraph two of Article 8 in the edition of the Law of the Republic of Uzbekistan No. URQ-759 dated March 14, 2022 — National Database of Legislation Information, March 14, 2022, No. 03/22/759/0213) Send a proposal for the document Listen to audio Get a reference from the document element Article 9. Accumulative pension booklet [ SPiT: 1. Pension provision / Accumulative pension booklet] Send a proposal for the document Listen to audio Get a reference from the document element An accumulative pension booklet confirming the citizen's right to receive accumulative pension payments is issued by the Halk Bank to the citizen after the opening of a personal accumulative pension account. [ OKOZ: 1. 01.00.00.00 Constitutional system / 01.11.00.00 Cabinet of Ministers of the Republic of Uzbekistan (see also 02.01.00.00)] Send a proposal for the document Listen to audio Get a reference from the document element The accumulative pension booklet indicates the date of registration, information about the citizen, including the sequence number of the personal accumulative pension account, as well as other necessary information. The procedure for issuing an accumulative pension booklet and the form of such a booklet are established by the Cabinet of Ministers of the Republic of Uzbekistan. LexUZ commentary For detailed information, see the "Regulation on the Accumulative Pension Booklet" approved by Resolution No. 595 of the Cabinet of Ministers of the Republic of Uzbekistan dated December 21, 2004. Send a proposal for the document Listen to audio Get a reference from the document element In the event that the accumulative pension booklet is lost (misplaced), a duplicate is issued with the same sequence number of the personal accumulative pension account. Send a proposal for the document Listen to audio Get a reference from the document element Article 10. Formation of funds in personal accumulative pension accounts See previous edition. Send a proposal for the document Listen to audio Get a reference from the document element [ OKOZ: 1. 05.00.00.00 Legislation on labor and employment of the population / 05.05.00.00 Labor discipline / 05.05.01.00 General provisions. Duties of employees and employers] Send a proposal for the document Listen to audio Get a reference from the document element The employer pays accumulative mandatory pension contributions monthly from the corresponding reduced amount of income tax calculated in accordance with the legislation for natural persons. ( Paragraph one of Article 10 in the edition of the Law of the Republic of Uzbekistan No. URQ-683 dated April 21, 2021 — National Database of Legislation Information, April 21, 2021, No. 03/21/683/0375) [ OKOZ: 1. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.05.00.00 Republic budget / 07.05.01.00 General provisions] Send a proposal for the document Listen to audio Get a reference from the document element The amount of accumulative mandatory pension contributions is calculated based on the sum of wages and other income of employees, including working pensioners, and is established annually by the Cabinet of Ministers of the Republic of Uzbekistan at the time of forming the State Budget of the Republic of Uzbekistan for the next year. [ OKOZ: 1. 05.00.00.00 Legislation on labor and employment of the population / 05.02.00.00 Labor / 05.02.05.00 Collective agreement. Collective agreements] Send a proposal for the document Listen to audio Get a reference from the document element The employer is given the right to pay additional contributions to the personal accumulative pension accounts of its employees from its own funds. The amount of additional contributions and the deadlines for their payment are determined in the collective agreement, or if no such agreement is concluded, agreed upon by the employer with the representative body of the employees. Send a proposal for the document Listen to audio Get a reference from the document element The employer's payment of accumulative mandatory pension contributions cannot be carried out for the benefit of third parties. Send a proposal for the document Listen to audio Get a reference from the document element Citizens participating in the accumulative pension system on a mandatory basis have the right to make additional contributions to their personal accumulative pension accounts, as well as for the benefit of third parties, in amounts and at intervals they independently determine. Send a proposal for the document Listen to audio Get a reference from the document element Citizens participating in the accumulative pension system on a voluntary basis independently determine the amounts and intervals of contributions made to their personal accumulative pension accounts, including for the benefit of third parties. See previous edition. Send a proposal for the document Listen to audio Get a reference from the document element Send a proposal for the document Listen to audio Get a reference from the document element The Halk Bank accrues interest on funds in personal accumulative pension accounts at high rates against currency devaluation in the manner established by legislation. The interest rate is established by the Halk Bank in agreement with the Ministry of Finance of the Republic of Uzbekistan and the Central Bank of the Republic of Uzbekistan, taking into account the income obtained from investing the funds of the accumulative pension system. (Paragraph seven of Article 10 in the edition of the Law of the Republic of Uzbekistan No. URQ-683 dated April 21, 2021 — National Database of Legislation Information, April 21, 2021, No. 03/21/683/0375) LexUZ commentary See: Regulation on the Procedure for Appointment and Payment of State Pensions approved by Resolution No. 592 of the Cabinet of Ministers dated October 13, 2022. Send a proposal for the document Listen to audio Get a reference from the document element Article 11. Formation of funds of the personal accumulative pension system Send a proposal for the document Listen to audio Get a reference from the document element Funds of the accumulative pension system are formed by accumulating funds in personal accumulative pension accounts at the Halk Bank. Send a proposal for the document Listen to audio Get a reference from the document element Sources of formation of funds in personal accumulative pension accounts include: Send a proposal for the document Listen to audio Get a reference from the document element accumulative mandatory pension contributions; Send a proposal for the document Listen to audio Get a reference from the document element accumulative voluntary pension contributions; Send a proposal for the document Listen to audio Get a reference from the document element interest accrued on the funds in personal accumulative pension accounts; See previous edition. Send a proposal for the document Listen to audio Get a reference from the document element Send a proposal for the document Listen to audio Get a reference from the document element other funds not contrary to legislation. ( Fifth paragraph of part two of Article 11 in the edition of the Law of the Republic of Uzbekistan No. URQ-683 dated April 21, 2021 — National Database of Legislation Information, April 21, 2021, No. 03/21/683/0375) Send a proposal for the document Listen to audio Get a reference from the document element Article 12. Use of funds of the accumulative pension system [ OKOZ: 1. 06.00.00.00 Legislation on social security and social insurance. Social protection / 06.06.00.00 Pensions / 06.06.12.00 Accumulative pension provision (see also 06.03.05.00)] Send a proposal for the document Listen to audio Get a reference from the document element Funds of the accumulative pension system are used to pay accumulative pension payments. Send a proposal for the document Listen to audio Get a reference from the document element Funds of the accumulative pension system cannot be used to fulfill obligations unrelated to the accumulative pension system. Send a proposal for the document Listen to audio Get a reference from the document element The Halk Bank maintains separate accounting for the funds of the accumulative pension system. [ OKOZ: 1. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.28.00.00 Investments and attraction of foreign funds (see also 07.05.04.00, 09.12.03.00, 10.01.05.00) / 07.28.08.00 Other investment issues] Send a proposal for the document Listen to audio Get a reference from the document element For the purpose of increasing the funds of the accumulative pension system and protecting them from currency devaluation, such funds may be used as investment and credit resources, as well as for investing in financial instruments. [ OKOZ: 1. 02.00.00.00 Basics of state management / 02.03.00.00 Republican state management bodies and economic management bodies / 02.03.02.00 Ministries] Send a proposal for the document Listen to audio Get a reference from the document element The use of funds of the accumulative pension system as investment and credit resources is carried out by the Halk Bank in agreement with the Ministry of Finance of the Republic of Uzbekistan. [ OKOZ: 1. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.19.00.00 Banking system / 07.19.01.00 Central Bank, its structural subdivisions and institutions] Send a proposal for the document Listen to audio Get a reference from the document element The procedure for investing funds of the accumulative pension system in financial instruments is established by the Ministry of Finance of the Republic of Uzbekistan and the Central Bank of the Republic of Uzbekistan. Send a proposal for the document Listen to audio Get a reference from the document element Article 13. Control over the receipt of funds into personal accumulative pension accounts and their use See previous edition. Send a proposal for the document Listen to audio Get a reference from the document element [ OKOZ: 1. 06.00.00.00 Legislation on social security and social insurance. Social protection / 06.06.00.00 Pensions / 06.06.01.00 General provisions] Send a proposal for the document Listen to audio Get a reference from the document element Control over compliance with the procedure for opening and maintaining personal accumulative pension accounts, as well as the correct and full calculation and timely payment of accumulative mandatory pension contributions into personal accumulative pension accounts, is carried out in the manner established by legislation by the bodies of the Ministry of Finance of the Republic of Uzbekistan, the state tax service bodies, and the Halk Bank. ( Paragraph one of Article 13

Law of the Republic of Uzbekistan No. УРҚ-683 dated April 21, 2021

(in the edition of the National Database of Legislative Acts of the Republic of Uzbekistan, 21.04.2021, No. 03/21/683/0375)

LexUZ Commentary

See: Paragraph 197 of the Regulation on the Procedure for Appointment and Payment of State Pensions, approved by Resolution No. 592 of the Cabinet of Ministers of the Republic of Uzbekistan dated October 13, 2022.