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 (with amendments introduced from April 1, 2021). According to this Method, payments to retiring persons are calculated as follows: the amount of pension savings is multiplied by the rate of pension savings payments – 6.5% and divided by 12. It turns out the amount of monthly payments from the UAPF in the first year of their receipt. For recipients of certain categories: people with disabilities of group 1 or 2, established indefinitely, as well as people who worked in harmful and dangerous industries, whose savings were formed due to mandatory occupational pension contributions in the aggregate for at least sixty months, the Methodology for calculating pension payments provides for correction increasing coefficients.
In subsequent years, the amount of the monthly pension payment increases annually by the indexation rate of pension payments – 5%.
Thus, since January 1, 2022, payments to pensioners who retired from April 1, 2021 have been increased by 5%. Persons who exercised their right to pension payments from the UAPF from January 1, 2018 to April 1, 2021, last year received payments according to the old Method, when the amount of pension savings was multiplied by the current value coefficient and divided by 12 months. However, since January 1, 2022, their last year's pension payments from the UAPF have also been indexed by 5%.
It should be noted that the monthly pension payment from the UAPF is carried out in the amount of at least 70% of the subsistence minimum. Accordingly, from January 1, 2022, the minimum payment from the UAPF will amount to 25,212.60 tenge.
If the amount of pension savings on the date of application for payment 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 at a time (in 2022 – 555,624 tenge = 12 * 46,302 tenge).
For pensioners who have realized the right to payment before January 1, 2018, in 2022, the calculation is as follows: the annual amount of their pension payment is the largest amount of the thirty-fold minimum pension (in 2022, 30 x 46,302 = 1,389,060 tenge) and the product of the amount of pension savings by the coefficient of the current value of pension savings at the appropriate age of the recipient. Payments are made according to the previously selected schedule.
Recall that pension payments from the UAPF are carried out until the retirement savings on the individual pension account are exhausted.