LAW OF TURKMENISTAN

of December 18, 2013 No. 461-IV

About modification and amendments in the Law of Turkmenistan "About the national pension insurance"

I. Bring in the Law of Turkmenistan "About the national pension insurance", adopted on March 31, 2012 (Sheets of Majlis of Turkmenistan, 2012, No. 1, the Art. 38), the following changes and amendments:

1. In Article 7:

after part four to add with part five of the following content:

"5. Persons specified in Items 3-6 of part two of this Article stop participation in mandatory pension insurance in cases of appointment as it:

1) old-age pensions;

2) pension or public welfare payment on disability if they are recognized as disabled people it is termless.";

the fifth to consider part part six.

2. In Article 19:

to state Items 2 and 3 of part one in the following edition:

"2) for the physical persons who are engaged in business activity without education of legal person individual entrepreneurs (except for persons working for them), and the physical persons performing activities for rendering professional services, specified in Item 3, of the persons who entered employment relationships with lessees, specified in Item 4, of the self-employed persons having the income, specified in Item 5, of persons working for the employers physical persons using wage labor or work of the house workers specified in Item 6, and also during the separate periods - for the physical persons specified in Items 7-10 of part two of article 7 of this Law, the minimum wage across Turkmenistan established by the legislation of Turkmenistan;

3) for the lessees specified in item 4 of part two of article 7 of this Law, net income.";

the fifth to state part in the following edition:

"5. In case of determination of base for calculation of pension contributions:

1) the payments made in natural form are considered in their cash equivalent on payment date determined proceeding from the prices regulated by the state, and in the absence of those - proceeding from market prices;

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