Discussion Held on Easing restrictions on Pension backed Loans

Prime Minister of Mongolia Mr. G. Zandanshatar, Minister of Family, Labour and Social Protection Mr. T. Aubakir, and Governor of the Bank of Mongolia Mr. B. Lkhagvasuren held a meeting to discuss to possibility of relaxing the 50/50 debt -to- income ratio requirement currently imposed on pension backed loans.

In order to align pension loan restrictions with the needs of senior citizens, it was discussed that possible solution would be to exempt pension loans from the general regulations on consumer loans. 

As a next step, the Monetary Policy Council of the Bank of Mongolia is scheduled to convene to deliberate further on the issue of pension backed loans on 7 July, 2025.

The Ministry of Family, Labour and Social Protection is working in close coordination with the Bank of Mongolia to find a resolution that aligns with the demands and well-being of the country’s elderly population.