Basic pension principles changed in Kazakhstan – Duissenova

“We change the principle of the basic pension. The amount of the pension will depend on
employee tenure or participation in the pension system.

Persons with employee tenure or participation in the pension system up to 10 years will receive 50 percent of the minimum subsistence level, up to 20 years - 70 percent of the minimum subsistence level, and 35 or more years - 100percent of the minimum subsistence level," the Minister explained.

Herewith, the head of Kazakh Labor Ministry noted since 2017 a single reappraisal of the basic pension will be carried out. Thus 300 billion tenge will be allocated for this purpose.

In this regard, recalculation of basic state pensions for 2 million of Kazakhstani citizens will be realized in 2017. Thus, with employee tenure of 20 years till January 1, given the tenure or participation in the pension system  after 1998 in total will get 70 percent of the new level of the subsistence minimum,” she resumed.

Indira Kaumetova