Mongolian parliament ratifies social protection cooperation deal with Czech Republic

AKIPRESS.COM - Mongolian parliament ratified the social protection cooperation deal with the Czech Republic. 8,813 Mongolians presently reside in the Czech Republic, 65% of whom are holders of 5-to 25-year visas, according to Montsame.
"Mongolians living abroad face difficulties when having their pension benefits calculated in their home country after retirement or receive low pension benefits due to several years' interruption in the payment of their social insurance contributions. This problem will be resolved with the ratification of the intergovernmental agreement," the report says.
Specifically, it allows Mongolian expats in the Czech Republic to receive their old-age pension in the country or have their years of service in the Czech Republic included in the calculation of their entitlement after returning to their home country.
The Government of Mongolia has established the agreement with four other countries, Hungary, South Korea, Turkey, and Poland.