Ministry of Economy and Finance of the Republic of Uzbekistan

The gradual increase in the maximum average monthly earnings taken into account when calculating pensions is a practical reflection of the Government’s consistent commitment to a strong social policy.
 

This approach is intended to enhance the fairness of pension payments, ensure that citizens’ many years of service and earnings are duly recognised, and further strengthen social protection.
 

Pensions of 520,000 Citizens Increased
 

Beginning in 2023, the maximum average monthly earnings taken into account for pension calculation were raised from ten to twelve times the basic pension calculation amount.
 

At the initial stage, this change increased the monthly pensions of more than 370,000 citizens by an average of UZS 400,000.
 

To date, the legislative amendment has resulted in an average increase of UZS 600,000 in the pensions of 520,000 citizens.
 

How Did Pension Amounts Change?
 

As of 1 January 2023, the basic pension calculation amount was UZS 324,000.
 

Under the previous procedure, the maximum average monthly earnings taken into account for pension calculation were equal to ten times the basic pension calculation amount:
 

UZS 324,000 × 10 = UZS 3,240,000.
 

For a person who had completed the required length of service for pension eligibility — 25 years for men and 20 years for women — the pension was calculated at 55 per cent of this amount:
 

UZS 3,240,000 × 55% = UZS 1,782,000.
 

From 1 January 2023, the upper limit of the average monthly earnings taken into account for pension calculation was raised to twelve times the basic pension calculation amount:
 

UZS 324,000 × 12 = UZS 3,888,000.
 

As a result, the pension payable to a person with the required length of service amounted to:
 

UZS 3,888,000 × 55% = UZS 2,138,000.
 

Accordingly, in this example, the citizen’s monthly pension increased by UZS 356,000 compared with the previous amount.
 

In addition, for each full year worked beyond the required length of service, the pension amount is increased by a further 1 per cent of the average monthly earnings used in the calculation.
 

International Practice
 

In economically developed countries such as Germany, France, Austria, Spain, Belgium, Sweden, Norway and Switzerland, pension entitlements are likewise calculated not on the basis of a person’s entire income, but only on earnings up to a statutory upper limit.
 

In international practice, this mechanism is commonly referred to as a “pensionable earnings ceiling”.
 

Each country determines this ceiling in line with its economic conditions, average wage levels, and the financial capacity of its pension system.
 

Adequate Social Security in Line with Individual Contributions
 

Raising the earnings ceiling used for pension calculation further reinforces the principle of providing social security commensurate with a person’s employment record and contributions.
 

The change also represents an important practical outcome of state policy aimed at encouraging the formal declaration of higher wages, duly recognising citizens’ many years of work, and strengthening social protection.
 

For reference: as of 1 July 2026, the maximum average monthly earnings taken into account for pension calculation amount to UZS 6,048,000.

Ministry of Economy and Finance

PR and Communications Department