1.9tn tenge from state budget to be sent to pay pensions this year

8 January, 2018 16:57

Since January 1, 2018, solidarity pensions have been raised by 8%, the basic pension has been increased by 6%. As a result, the average pension was about 72 thousand tenge.

In 2017, pensions were raised to 20% for more than 2 million recipients. The total amount of funds allocated to pay pensions was 1.6 trillion tenge, the Ministry of Labor and Social Protection of the Republic of Kazakhstan reported.

"Since January 1, 2018, solidarity pensions have been raised by 8%, the basic pension has been increased by 6%. As a result, the average pension was about 72 thousand tenge", the report said.

From July 1, 2018, it is planned to change the methodology for assigning a basic pension, taking into account the length of service before January 1, 1998, and the length of participation in the accumulative pension system after January 1, 1998. Such a change will ensure an increase in the basic pension by an average of 1.8 times.

Starting from July 1, 2018, the average pension size, taking into account the base pension, will be about 82 thousand tenge.

The total amount of funds provided for pension provision of citizens this year is more than 1.9 trillion tenge, the Ministry informed.