Scientific Discoveries

Author: Аrzybaev Askar
PhD Kyrgyz State University named after I. Arabaev Bishkek, Kyrgyzstan This email address is being protected from spambots. You need JavaScript enabled to view it.
Author: Аmerkulova Zhibek Djumashevna
senior lecturer Kyrgyz State University named after I. Arabaev Bishkek, Kyrgyzstan This email address is being protected from spambots. You need JavaScript enabled to view it.

AN ANALYSIS OF THE WEAKNESSES AND VULNERABILITIES OF PENSION POLICY IN THE KYRGYZ REPUBLIC

Key words: social insurance, guarantees, acquired rights to a state pension, basic pension, insurance pensions, redistributive system, minimum qualifying period, subsidy.

Annotation. Old-age insurance is a distinct sub-sector of the state social insurance system and represents a complex mechanism for the accumulation of deferred rights. These rights guarantee the receipt of a pension upon the occurrence of an insured event and are therefore regarded as a means of realizing citizens’ constitutional rights to social protection. The main state pension system of the Kyrgyz Republic is redistributive in nature; consequently, its configuration and architecture depend on numerous factors embedded in pension legislation.
Amendments introduced to pension legislation, for the first time in the long history of social insurance in the country, excluded an entire core category— agricultural commodity producers, namely farmers—from the system, thereby depriving them of the privileges provided by the state social protection framework. The first insurance component of the pension has been devalued. In addition, the new provisions allow for the forfeiture of insurance contributions made by insured persons if the minimum required insurance record is not achieved.
The study demonstrates that, taken together, these changes significantly worsen the position of insured individuals, create a risk of loss of acquired rights, and thus undermine citizens’ constitutional rights in the sphere of state social insurance. The research also reveals hidden pitfalls that were not disclosed by the executive authorities during parliamentary discussions and were not raised by the Jogorku Kenesh.