Comprehensive Analysis of the Unemployment Insurance Fund to Be Conducted

A working group has been established by ministerial order to conduct a comprehensive review of the operations of the Unemployment Insurance Fund and to develop proposals for amendments to relevant laws and regulations. The objective is to ensure the Fund’s long-term financial sustainability by maintaining a balanced relationship between its revenues and expenditures.

The working group is led by Deputy Minister of Family, Labour and Social Protection B. Solongoo, who convened a meeting and outlined the following key tasks:

·    To carry out a comprehensive analysis of the Unemployment Insurance Fund’s budget and budget execution data for the period 2016–2025;

·    To conduct actuarial analysis on the ratio between unemployment benefit expenditures and revenues;

·      To assess the factors influencing the increase in unemployment benefits, including the average benefit amount and the growth in the number of beneficiaries;

·    To examine the sectoral distribution and frequency of beneficiaries receiving unemployment benefits, conduct risk assessments on individuals who have received benefits multiple times, and perform verification checks;

·   To review international experiences and analyse policy recommendations and documents issued by international organizations related to unemployment benefits, and conduct comparative analysis.