59 billion tenge: the first contributions from employers are transferred to the pension accounts of Kazakhstanis

“Government for Citizens” processed 1.7 million payments worth 59 billion tenge in four months of 2024. This is the amount of a new payment introduced for the first time this year - a mandatory pension contribution from the employer.

OPVR is paid for each employee who was born after January 1, 1975 in the amount of 1.5% of his income. The contribution first goes to the “Government for Citizens” account - according to Article 17 of the Social Code, the state corporation keeps records of all pension contributions individually for each contributor. Then, within three working days, the OPVR amounts are transferred to the Unified Accumulative Pension Fund to conditional pension accounts.

Unlike ten percent pension contributions (PPC), the CPPR amount is not the property of the employee, is not capitalized and is not inherited.

Conditional savings are an additional level in the pension system. To receive part of the pension from the OPVR, you must participate in the system for at least 5 years. At the same time, a one-time payment from accumulated OPVR cannot exceed two subsistence minimums.