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Events
Unified Accumulation Fund to resolve social protection services comprehensively www.montsame.mn
On August 26, a National Committee responsible for increasing housing for citizens, establishing a Unified Accumulation Fund and the National Sovereign Wealth Fund, as well as expanding the middle class held its first meeting.
The committee is chaired by Prime Minister L. Oyun-Erdene. Minister of Finance by B. Javkhlan and Deputy Minister of Mining and Heavy Industry O.Batnairamdal work as deputy chair and secretary of the committee.
During the meeting, the bills on the National Sovereign Wealth Fund, the Social Insurance and the Unified Accumulation Fund were heard. Also, Minister of Construction and Urban Development B. Munkhbaatar introduced the ‘Youth 1’ apartment district.
Minister of Labor and Social Welfare A. Ariunzaya said that the bill on Unified Accumulation Fund was drafted for the purpose of gradual transition to a system of providing all citizens with comprehensive education, healthcare, pensions, housing, and social security through the Fund. It is deemed that the establishment of this fund will increase permanent jobs, ensure equal access to natural resources for all citizens, increase the middle class, and build accumulation fund scheme.
The amendments to the package law on Social Insurance include the introduction of a multi-tier pension system, the placement of fund in the accumulation fund, the increase of the middle class by raising the pensions, the digitalization of all social insurance services as well as others. The bill also includes the improvement of investment management of the social insurance fund.
Thanks to the government's housing policy, as of August 19, 8,289 people have received mortgage loans. The number of borrowers was 5,549 last year, 4,815 in 2019 and 3,909 in 2018.
After hearing the presentations, Prime Minister L.Oyun-Erdene assigned the Minister of Finance B.Javkhlan to make an integrated presentation next Tuesday on the policy to increase housing, create a Unified Accumulation Fund, a National Sovereign Wealth Fund, and expand the middle class.
The PM also instructed to establish a sub-working group of 12-15 people consisting of the private sector, as part of the policy to increase citizens’ housing.
Published Date:2021-08-30
