Recover the lost assets of the Social Insurance fund and implement steps to avoid risks

The National Council of Social Insurance held its first meeting for 2025 on January 27.

Following the appointment of the Minister of Family, Labour and Social Protection, a formal complaint was lodged with the prosecutor’s office to identify the individuals responsible for decisions that jeopardized the assets of the Social Insurance Fund.

According to the resolution of the National Council of Social Insurance regarding the acceptance of collateral assets for debt repayment, the process of gradual implementation has begun to yield results.

The Social Insurance Fund has receivables amounting to 160 billion MNT from Capital Bank and Chinggis Khaan Bank.

From the total receivable of 104.2 billion MNT owed by Capital Bank, 13 billion MNT has been recovered in cash, while 25 billion MNT in assets has been settled.

Chinggis Khaan Bank owed 103.57 billion MNT, of which 8.64 billion MNT has been recovered and allocated to the unemployment and pension insurance funds.

As of the current date, the Social Insurance Fund has remaining receivables of 94.95 billion MNT from Chinggis Khaan Bank.

It is pivotal to recover the lost assets of the Social Insurance Fund and implement steps to avoid risks.

The 2025 Work Plan of the Professional Committee responsible for overseeing the Social Insurance Fund has been discussed and officially approved. This plan outlines key measures to safeguard the fund from potential risks and ensure its effective management. It includes regulations governing the opening, registration, and maintenance of individual accounts, as well as guidelines for the accurate calculation of insurance contributions for insured individuals.