Following the adoption of the Amendments to the Law on Elderly Persons set to come into effect on June 5, 2025, the following regulations will be in effect as of January 1, 2025:

• The company's charter must include the establishment of a "Senior's Fund" and the determination of the amount in cash. In this regard, the “Regulations on the Establishment and Operation of the Senior’s Fund” were approved by the enactment of Appendix 2 to Government Order No. 243 on December 25, 2024. Please click here for more information.
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• The business entity or organization shall present and discuss the "Senior’s Fund" activity report and the expenditure of funds at the organization's all-staff meeting by February 1st of each year.
• Regardless of the type and form of ownership, business entities and organizations with 50 or more employees shall employ at least 2 percent of their total workforce of Mongolian citizens aged 60 or older and 55 or older in workplaces other than underground and workplaces with hazardous, hot, or difficult working conditions.
• If a business entity, government or non-government organization has 50 or more seniors, it may employ one person on a contract basis to represent the seniors, with the primary function of consulting and assisting in communicating with the seniors.
• If an elderly individual works under an employment contract, work contract, paid employment contract, or similar contract, they may not be covered by pension insurance in accordance with Article 7.6 of the General Law on Social Insurance.

    Therefore, please inquire the implementing the above-mentioned regulations related to the elderly, which came into effect on January 1, 2025.