National minimum wage of Mongolia rises from Jan.1, 2020
AKIPRESS.COM - Upon a 2018 resolution of Tripartite National Commission for Labor and Social Concession of Mongolia, minimum wage is set at MNT 420 thousand starting from January 1, 2020, Montsame reports.
The minimum wage growth makes the minimum amount of social insurance premium MNT 60.900.
In 2019, the minimum wage was MNT 320 thousand and the minimum social insurance premium was MNT 43.200. Compared to 2007, the minimum wage was increased by MNT 330 thousand.
There are about 1.1 million employees nationwide and 8 percent of them or 80 thousand people earn at the minimum wage.