Uzbekistan’s salaries, pensions and benefits to rise above inflation through 2030

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan’s Ministry of Economy and Finance announced that from now until 2030, wages for public-sector employees, as well as pensions and social benefits, will increase each year at rates exceeding inflation. The commitment was outlined in the ministry’s 2026 budget message.

As part of ongoing reforms of the state pension system, the government plans to reduce transfers from the national budget to the Pension Fund under the Ministry of Economy and Finance. At the beginning of 2026, the fund’s balance is projected at 3.9 trillion soums, with revenues expected to reach 64.7 trillion soums and expenditures 86.1 trillion soums.

To cover the shortfall, the government intends to allocate 23 trillion soums — an increase of 13.8% compared to the previous year. Transfers are expected to decrease in subsequent years: to 20 trillion soums in 2027 and 18 trillion soums in 2028.

The ministry forecasts that the number of pensioners will grow from 4.27 million in 2025 to 4.76 million in 2028. The annual number of new pensioners is also expected to rise from 305,000 to 321,000.

Each percentage point increase in public-sector wages will require an additional 1.67 trillion soums. Raising pensions will cost an extra 861 billion soums, while a 10% increase in the number of benefit recipients will raise expenditures by almost 1.6 trillion soums.

The ministry noted that the figures in the current budget message differ significantly from those in the previously presented fiscal strategy for 2028, which projected transfers at 26 trillion soums.

The government expects to achieve savings largely through pension system reforms.