Why were Kazakhstani pensions received in May more than in June?

The difference in the size of pensions received in May and June 2020 was commented on in the Ministry of Labor and Social Protection of the Population of the Republic of Kazakhstan.

Kazakhstani pensions received in May were greater than in June. The reason for this was the surcharge of funds not received in April after an additional 5% indexation of payments.

By order of the Head of State dated March 30, 2020, additional indexation of pension payments and benefits was carried out by 10% in annual terms. Thus, to the increase made since January 1, 2020, when the basic pension and state benefits were increased by 5%, and the old-age pension – by 7%, from April 1, all payments were additionally increased by another 5%.

The increase in April was made in an automated mode (without requiring additional documents), and in May citizens received payments taking into account the increase. At the same time, the difference between the new and the old size that was not received by citizens in April was paid in May, simultaneously with the next payment of pensions.

For example, if from January 2020 the amount of pension payments (old-age pension + basic pension) amounted to 90,400 tenge, then from April 1 of this year the new size of pension payments is 94 920 tenge (90 400 tenge + 5% increase). Moreover, the payment in May amounted to 99,440 tenge (94,920 tenge + surcharge for April in the amount of 4,520 tenge). In June, pension payments amounted to the required 94,920 tenge.

Recall, from April 1, 2020, the minimum pension payment was set at 58 082 tenge, including the minimum basic pension payment – 17 641 tenge.”

 Press office of the Ministry of Labor and Social Protection of the Population of the Republic of Kazakhstan