Regulatory Alerts2004-12-02 | 702-IIAdded
On the Accumulative Pension Provision of Citizens
The Law regulates relations in the field of accumulative pension provision for citizens of the Republic of Uzbekistan, including foreign citizens and stateless persons permanently residing in the country. It establishes that participation in the accumulative pension system is mandatory for employers and citizens working under employment contracts, while individual entrepreneurs and members of dekhkan farms may participate voluntarily. The state guarantees the safety and payment of funds accumulated in individual accumulative pension accounts held at the People's Bank.
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