Developing Social Security to Meet Human Development Needs is Crucial, says Minister L. Enkh-Amgalan

L. Enkh-Amgalan, Member of Parliament and Minister for Family, Labour, and Social Protection, met with Taehyun Lee, the World Bank Country Manager for Mongolia, to discuss key priorities in social protection and human development.

As part of the Mongolian Government's 2024-2028 agenda, a core objective is advancing Mongolia’s Human Development Policy and improving the nation's ranking in the Human Development Index by 10 places. During the meeting, Minister Enkh-Amgalan emphasized the critical importance of developing quality education, healthcare, and social protection systems that cater to the needs of human development.

Beginning in 2024, Mongolia will establish a Central Provident Fund, channeling 2 percent of social insurance premiums into a reserve fund that will be used for health, education, housing, and inheritance purposes. The Minister stressed that these reforms are part of a long-term strategy, with the ultimate goal of transitioning to a multi-layered pension system.

The World Bank has also collaborated with Mongolia in developing and implementing the national-level EJOB platform to promote employment. Both parties discussed future cooperation to enhance and expand the platform’s functionality.

Currently, 80 percent of labour and welfare organizations in Mongolia focus on welfare, while only 20 percent support employment. The Minister highlighted the need for a policy shift towards social security reforms that focus on supporting employment over welfare, ensuring that social welfare is directed to the most vulnerable and targeted groups.