Quite right, the Law of the Republic of Kazakhstan dated July 12, 2022 No. 138-VII On amendments and additions to certain legislative acts of the Republic of Kazakhstan on the regulation and development of the insurance market and the securities market, banking activities introduced amendments and additions to the pension legislation, which entered into force on September 12, 2022, including allowing contributors (beneficiaries), in cases provided for by law, to conclude a pension annuity agreement together with spouses or close relatives.
A joint annuity is a product that implies the participation in a pension annuity agreement of two insureds (assureds) who are spouses or close relatives in accordance with the Code of the Republic of Kazakhstan On Marriage (Matrimony) and Family and simultaneously insured.
A joint annuity, unlike the classic pension annuity, allows you to combine pension savings and redistribute income under a pension annuity agreement.
It should be noted that in order to conclude a pension annuity agreement, the amount of pension savings must be sufficient to ensure benefit of at least 70 percent of the subsistence minimum (1.4 times the subsistence minimum in the event that a pension annuity agreement is concluded by two persons), established by the law on the republican budget and effective as of January 1 of the relevant financial year.
The list of persons entitled to transfer pension savings to an insurance organization, and the package of documents required for this can be found here on the Fund's website.