At the plenary session of the State Great Khural of Mongolia held on April 19, 2024, the Law on the National Wealth Fund, along with accompanying legislative proposals submitted by the Government of Mongolia, was officially passed. This marks a significant step toward creating the legal framework for establishing a savings fund, enabling the distribution of benefits from mining wealth to every citizen and ensuring its inheritance by future generations.
Under the Law on the National Wealth Fund, the fund will consist of three sub-funds: the “Future Heritage Fund,” the “Development Fund,” and the “Savings Fund.”
A public survey has now started on how to accumulate additional income in their personal accounts. The survey is being jointly conducted by the “E-Mongolia Academy” and the Ministry of Family, Labor and Social Protection. It is available through the E-Mongolia web portal and mobile platforms from May 12 to May 23.
- Whether to support accumulating the child money allowance into the personal savings account;
- Whether to support accumulating the Value-Added Tax (VAT) refund into the personal savings account;
- Whether to support accumulating the Personal Income Tax (PIT) refund into the personal savings account;
- Whether to support accumulating dividends from Erdenes Tavantolgoi JSC into the personal savings account.
How to participate in the survey:
- Log in to the E-Mongolia system using your registered account.
- Go to your Profile, select the "My Information Held by the Government" section, and then choose "Survey" to submit your responses.
We encourage all citizens to actively participate in this important survey, which aims to ensure the fair formation and effective use of the National Wealth Fund. Your participation will play a valuable role in shaping the future distribution of Mongolia’s national wealth.
