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Turkmenistan announces time for 1H2020 state pension fees

17 June 2020 [18:37] - TODAY.AZ

By Trend

The Pension Fund of Turkmenistan has announced the beginning of the fiscal period for the payment of pension contributions for the first six months of 2020, Trend reports with reference to Turkmenportal Information Portal.

Pension contributions must be paid to the Department of the Pension Fund of Turkmenistan with the simultaneous submission of declarations from July 1 to August 15, 2020.

The payment of pension contributions is carried out in accordance with article 21 of the law of Turkmenistan On State Pension Insurance, that was prepared by order of the President of Turkmenistan Gurbanguly Berdimuhamedow on the creation of the pension fund of Turkmenistan and introduction of national accumulative pension method in-country, as well as tasks to update and bring legislation on social security into compliance with international standards on July 9, 2010.

Amendments and additions to the law of Turkmenistan On State Pension Insurance came into force on January 1, 2018.

In particular, if the insured person simultaneously has additional income from business activities, professional services, or agricultural production, then one type of income will be subjected to accounting.


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