What is the amount of pension from UAPF in 2023?

From January 1, 2023, payments from the UAPF to pensioners who retired after January 1, 2018 were increased by 5%. Payments from the UAPF are made in accordance with the Methodology approved by the Decree of the Government of the Republic of Kazakhstan dated October 2, 2013 No. 1042 (as amended from April 1, 2021) (hereinafter referred to as the Methodology). According to this Methodology, payments to retirees are calculated as follows: in the first year of receiving payments, the amount of pension savings is multiplied by the pension savings payment rate - 6.5% and divided by 12. For recipients of certain categories: people with disabilities of groups 1 or 2, established indefinitely, as well as people who worked in hazardous and hazardous industries, whose savings were formed at the expense of mandatory professional pension contributions in the aggregate for at least sixty months, the Methodology provides for correction factors that increase the amount monthly pension payment. For persons meeting more than one of the above conditions, the correction factor with the highest value is applied. At the same time, the monthly pension payment from the UAPF is made in the amount of at least 70% of the subsistence minimum established for the corresponding financial year by the law on the republican budget (in 2023, the subsistence minimum was 40,567 tenge). Accordingly, since the beginning of the year, the minimum payment from the UAPF has increased by 8.5% and will amount to 28,396.9 tenge (70% * 40,567). In subsequent years, the size of the monthly pension payment increases by the indexation rate of pension payments - 5%. If the amount of pension savings as of the date of application does not exceed twelve times the minimum pension established by the law on the republican budget for the corresponding financial year, this amount is paid to the recipient from the UAPF in a lump sum (in 2023, the lump sum pension payment will be 636,912 tenge = 12 * 53 076 tenge). For persons who exercised their right to receive pension payments from the UAPF before January 1, 2018, pension payments are calculated according to the methodology that was in force at the time of assignment of pension payments: the amount of the annual pension payment is calculated and does not exceed the largest of thirty times the minimum pension (in 2023 - 1 592 280 tenge = 30 * 53 076 tenge) and the value calculated as the product of the amount of pension savings by the coefficient of the current value of pension savings at the corresponding age of the recipient. Recall that pension payments from the UAPF are made until the pension savings on the individual pension account are exhausted.