Social Protection Minister reviews the 2016 Social Insurance Fund report

During Wednesday’s meeting of the Standing Committee on Social Policy, Education, Culture and Science, Minister of Labor and Social Protection N. Nomtoibayar presented the National Council’s 2016 report on the Social Insurance Fund.

He noted that the council discussed 42 issues and made 33 resolutions during its five meetings held last year.

Revenue of 1.7 trillion MNT was expected to be generated for the Social Insurance Fund in 2016, but individual contributors and 43,000 enterprises generated revenue of 1.8 trillion MNT for the fund last year.

Minister N.Nomtoibayar emphasized that the council’s members carried out a financial review of the Social Insurance Fund.

The review uncovered financial violations totaling more than one billion MNT, and they also revealed violations and abuses of power involving 136 social welfare inspectors.

He added that the Social Insurance Fund is owed payments of nearly 20 billion MNT from a number of construction companies.

The Minister said that the council will carry out a second financial review of the fund soon, and that law enforcement officers may be involved in carrying out the upcoming review.