Ension System of Uzbekistan

“PENSION SYSTEM OF UZBEKISTAN: PROBLEMS AND PERSPECTIVES”

Prof. Islamov Bakhtiyor Prof. Shadiev Rustam

CONTENTS: Introduction..........................................................................................................................3 Chapter 1. The analysis of the current condition of the pension system of Uzbekistan ....4 The principles of financing of the social sector in Uzbekistan. ............................................4 Principle of organization of the pension maintenance of Uzbekistan ...................................7 The basic problems of Pension Fund of the Republic of Uzbekistan ...................................8 Chapter 2. Basic directions of improvement of pension system in Uzbekistan................12 Common principles of creating NPF in Uzbekistan...........................................................12 Possible functioning mechanisms of NPF in Uzbekistan...................................................13 The Uzbek strategy of private pension funds creation .......................................................15 Perspectives estimation of establishing nongovernment pension funds..............................16 Macroeconomic aspects of pension systems’ perfection....................................................17 Perfection issues of the pension system of the Republic of Uzbekistan .............................19 Conclusion ..........................................................................................................................25 Appendix.............................................................................................................................26 References...........................................................................................................................35

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Introduction The purpose of the present report is the definition of perspective ways of the further development and perfection of pension system of Uzbekistan, based on an optimum

References: 1. R. Zabihodjaev, A. Navotniy, A. Nabihodjaev, Y. Fayzullaev and U. Abdurahmanov 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. “Sovershenstvovanie pensionnoy sistemi i vozmojnosti sozdaniya negosudarstvennih nakopitelnih pensionnih fondov v Uzbekistane”/ Ekonomicheskoe Obozrenie, # 10-11(3839), 2002, pages 3-10. Andras Simonovits (Institute of Economics). “Hungarian Pension System: The Permanent reform”. Alier, M. And Vittas, D.(2001): “Personal Pension Plans and Stock-Market Votality”, Holzmann-Stiglitz, eds. 391-423. Augusztinovics M. (1999a): “Pension Systems and Reforms in Countries in Transition”, Economic Survey of Europe 3(3), UN Economic Commission for Europe, Geneva. Augusztinovics M. and Johnson P. (1997): “Concluding Remarks: System and Reform Design”, Augusztinovics et. al. 257-270. Borkos, L. And Deithier J.J. eds. (1998): Public Finance Reform during the Transition: The Experience of Hungary, Washington, D.C. World Bank. Borsch-Supan, A.(1998): “Incentive Effects of Social Security on Labor Force Participation: Evidence in Germany and Across Europe”, NBER WP 6780, Cambridge, MA. Charlton, R., McKinnon, R. And Konopielko, L.(1998): “Pension Reform, Privatization and Restructuring in the Transition : Unfinished Business or Inappropriate Agendas?” Europe-Asia Studies 50 1413-1446. Diamond, P. (1998): “The Economics of Social Security Reform”, NBER WP 6719, Cambridge, MA. Flemming, J. And Mickelwright, J. (1999): “Income Distribution, Economic Systems and Transition, Innocent Occasional Papers”, Economic and Social Policy Series 70, Florence UCIEF. Fultz, E. And Ruck, M.(2000) : “Pension Reforms in Central and Eastern Europe: an update on the Restructuring of National Pension Schemes in Selected Countries”. Hagelmajer,K. (1999): “The Transformation of Social Security in Central and Eastern Europe”, Muller et. al eds.31-58. Marketa Vylitova (Research Institute for Labour and Social Affairs). “OLD-AGE PENSION SYSTEM AND ITS PLACE IN THE CZECH WELFARE STATE”. Irena Kowalska (Warsaw School of Economics, Institute of Statistics and Demography). “NEW PATTERNS OF FAMILY FORMATION AND FAMILY LIFE IN POLAND”. Borislav Tafradjiyski (Club “Economica 2000”). “THE PENSION REFORM IN BULGARIA-TWO YEARS AFTER THE START”. Vasile Valentina (Institute of National Economy, Romanian Academy of Scienes). “DEMOGRAPHIC TRANSITION AND ECONOMIC TRANSITION. INTERLINKING AND PARALLELISM.THE CASE OF ROMANIA”. Islamov Bakhtiyor, Shadiyev Rustam (Uzbekistan). “NEW DEMOGRAPHIC TRENDS, EMPLOYMENT AND LABOUR MARKET IN UZBEKISTAN”. Shinichiro Tabata (Slavic Research Center, Hokkaido University). “PENSION SYSTEM IN RUSSIA”. Part 1: The Russian Pension in the 1990s. Sadayoshi Ohtsu. (Graduate School of Economics, Kobe University). “PENSION SYSTEM IN RUSSIA”. Part 2: The Political Economy of Putin’s Pension Reform. Yulia Sorokina (Russian Statistical Commitee). “DEMOGRAPHIC SITUATION AND LIVING STANDART IN RUSSIA”. 35