Proposals Submitted for the Draft Law on Personal Supplementary Pensions Discussed individually

Subcommittee on Drafting the Personal Supplementary Pension Law Held a Meeting. The proposed law is designed to regulate the implementation of private supplementary pension programs, the accumulation of supplementary pension funds, investment of pension funds, provision of private supplementary pensions, inheritance of pensions, the creation of data repositories, monitoring, and the protection of stakeholders' rights and interests.

Upon approval of this draft law, citizens and policyholders will be able to voluntarily participate in supplementary pension programs and receive additional pensions.

The meeting and discussions were attended by representatives from the Financial Regulatory Commission, the Mongolian National Chamber of Commerce and Industry, the Mongolian Stock Exchange, the People's Pension Account LLC, National Life Insurance LLC, the Pension Fund Foundation established by Golomt Bank, the Confederation of Employers of Mongolia, the Federation of Trade Unions of Mongolia, the Mongolian Insurance Association, and relevant researchers, all of whom consolidated and discussed the proposals.