5.866m people participate in accumulative pension system

Tashkent, Uzbekistan (UzDaily.com) -- People’s Bank of Uzbekistan said over 5.866 million people have individual accumulative pension accounts as of 1 October 2009.

People’s Bank of Uzbekistan, which accumulates accumulative pension of population, did not disclose total sum of accumulated pensions.

Accumulated resources at the accumulative pension system are used to interbank deposits and development of real sector of economy of Uzbekistan.

Uzbekistan introduced accumulative pension system from 1 January 2005 in line with the Law of Uzbekistan “On accumulative pension provision of the citizens”.