Hello! I have read that mandatory pension contributions from employers will be introduced next year, but, as I know, an additional 5% is already being paid for workers of certain professions. Tell us more about it.
Compulsory occupational pension contributions (COPC) are money transferred by an agent (employer) at their own expense to a unified accumulative pension fund (hereinafter referred to as UAPF) in favor of their employees employed in jobs with harmful working conditions. The list of professions and positions, heavy work, work with harmful and (or) dangerous working conditions is approved by the Order of the Minister of Health and Social Development of the Republic of Kazakhstan. The amount of COPC is 5% of the employee's income.
COPCare paid in national currency no later than the 25th day of the month following the month of payment of income, unless the employer is an economic entity to which a special tax regime is applied, in the manner and within the time limits stipulated by the tax legislation of the Republic of Kazakhstan. The state revenue authorities control the transfer of COPC, and if the employer does not transfer funds to the employee’s account in a timely manner, the employer is charged with funds that are subject to transfer to the account in UAPF with accrued penalties for each day of delay.