Average size of pensions to amount to about 72K tenge next year

26 December, 2017 14:26

As it’s known, from January 1, the pension in Kazakhstan will increase and its average size will be within 72 thousand tenge. The increase of pensions and social benefits was commented by Minister of Labor and Social Protection of Population of Kazakhstan Tamara Duyssenova on the sidelines of the meeting of the Government.

"From January 1, 2018, the solidarity pension will increase by 8%, the basic pension will increase by 6%. The average size of pensions will be about 72 thousand tenge. In addition, all of our social payments for disability, survivor, age will increase by 16%, and the remaining social payments - by 6% in accordance with the level of inflation", Tamara Duyssenova said.

We note that next year the subsistence level will increase and amount to 28 284 tenge.

The Minister also recalled that the basic pension will depend on the length of service.

"The basic pension will be recalculated based on the length of service. This will concern all 2 million of our pensioners and those that will go out next year. For those with up to 10 years of experience, they will have 54%, this is just over 15 thousand tenge, and who has 33 years of experience before 1998 and after 1998, we take the total length of service, they will have twice the basic pension than in the current year", the Minister of Labor explained.

Akbota Kuzekbay

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