Formation of the pension system of the Kyrgyz Republic and problems at the present stage of its development

Abstract

This article is devoted to the study of key moments in the history of the formation of the pension system of the Kyrgyz Republic. Based on the results of the analysis of the factors of development of this system at the present stage, the problems associated with its development have been identified. The authors note the need for an integrated approach to improving all areas of social security. The purpose of the article is to study the current state of the pension system of the Kyrgyz Republic and identify ways to improve and modernize it. The problems that accompanied the process of formation and development of the pension system, models of pension reform are highlighted. An analysis was carried out on the expediency of the system of conditionally funded pension provision chosen in the Kyrgyz Republic. Labor migration and its high level among the working-age population are indicated by the authors as one of the urgent problems of the current pension system of the Kyrgyz Republic, the relevance of which is due to the impossibility of receiving deductions from the income of migrants to the country’s pension fund. The authors also identified various factors that have a serious impact on the situation in the pension system of the Kyrgyz Republic. The conclusions of the authors of the article are presented in the final part.