Keywords
pension provision
regional aspects
informal employment
pension coverage
investment activity
multi-pillar pension model
financial sustainability
How to Cite
Abstract
The purpose of this study is to assess the mechanisms for implementing the pension system in Uzbekistan from a regional perspective and to identify pathways for its improvement. The research employs statistical, comparative, and dynamic analysis methods, as well as an analysis of нормативно-legal (regulatory) documents. The findings indicate that the key challenges of the pension system include a high level of informal employment, low coverage (38%), and weak investment activity, all of which adversely affect its financial sustainability. Uzbekistan’s ranking of 71st in the Allianz Pension Index (2023) confirms the need for comprehensive reforms, particularly highlighting significant deficiencies in the adequacy sub-index. The results suggest that improving the pension system requires the introduction of a multi-pillar model, reduction of informal employment, and enhancement of investment activity. In conclusion, ensuring the long-term sustainability of the pension system necessitates a comprehensive and systematic approach
References
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