Uzbekistan may need to increase its retirement age in the future to ease pressure on the national budget and address demographic challenges, according to Koba Gvenetadze, head of the IMF office in Uzbekistan.
Currently, men retire at 60 and women at 50 — levels below international averages.
“Pension reform should also be considered,” Gvenetadze said during recent talks. “The authorities are already working on this. We are providing technical assistance as well.”
He pointed out that pension costs are part of state spending and that a growing population makes reform increasingly urgent.
“It may be advisable to gradually increase these ages,” Gvenetadze added. He stressed, however, that this step would require careful planning. “First of all, the concept needs to be adopted… the final decision will depend on this framework.”
While no official decision has been made yet, discussions reflect the government’s wider efforts to strengthen public finances and prepare for future social demands.
