Turkmenistan announces time for 1H2020 state pension fees
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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