Since the beginning of the year, Kazakhstanis have received more than 1.3 trillion tenge of pensions
“From January to June 2021, more than 410.8 billion tenge was allocated from the republican budget to pay the basic pension, solidarity pension payments – 928.9 billion tenge,” -the press service of the Ministry of Labor and Social Protection of the Population of the Republic of Kazakhstan reports.
. As of July 1, 2021, the number of pensioners is more than 2 million 239 thousand people.
In June 2021, more than 222.3 billion tenge was allocated from the republican budget for pension payments, of which 68.2 billion tenge was for the payment of a basic pension, and 154.1 billion tenge was a solidarity pension. The average size of pension payments (taking into account the basic pension payment) as of July 1, 2021 amounted to 99,898 tenge.
As a reminder, from July 1, 2018, the state basic pension payment is assigned to each recipient individually, taking into account his length of service in the pension system. At the same time, the length of service in the pension system includes the length of service worked out in the solidarity system as of January 1, 1998, as well as the periods for which mandatory pension contributions (hereinafter referred to as OPV) were paid. So, if the experience of participation in the pension system is 10 years or less, as well as in its absence, the size of the basic pension is equal to 54% of the subsistence minimum, then for each year over 10 years its size increases by 2%. For example, with 20 years of experience, the basic pension will be 74% of the subsistence minimum, 30 years – 94% of the subsistence minimum. With an experience of 33 years or more, it is set at the maximum rate – 100% of the subsistence minimum. If OPV is transferred several times to the Unified Accumulative Pension Fund in one month, the period of participation in the accumulative system is one month.
Thus, the more regularly and in full the compulsory pension contributions are paid, the greater the size of the basic pension payment upon reaching the retirement age. In turn, the size of old-age pension payments depends on the length of service as of January 1, 1998 (at least 6 months is required) and the average monthly income received in the pre-retirement period.