INFORMATION MESSAGE
The amount of the minimum monthly payment and the amount of a lump sum payment from the UAPF has increased
In accordance with the instructions of the President of the Republic Of Kazakhstan Based on the amendments and additions to the law "on the Republican budget for 2020-2022", which provide for an increase from April 1, 2020 of the minimum pension (MP) from 38,636 tenge to 40,441 tenge and the value of the subsistence minimum (PM) from 31,183 tenge to 32,668 tenge, the following pension payments from the UAPF are increased:
- the amount of the minimum monthly payment according to the schedule is 17,640. 72 tenge (54% of the PM) (previously 16,838,82 tenge),
- the amount of a one-time pension payment in cases when the amount of pension savings on the date of application does not exceed the twelve - fold amount of the minimum pension-485,292 tenge (previously 463,632 tenge).
In addition, the amount of the state basic pension payment (basic pension) and the age pension payment paid from the state budget has been increased.
The minimum amount of the basic pension is now equal to 17,641 tenge (previously 16,839 tenge) for those whose combined work experience and participation in the pension system is less than 10 years. For each year of labor participation, 2% of the PM is added. The maximum amount of the basic pension for a work experience of 33 years or more is 100% PM or 32,668 tenge.
The amount of the minimum pension has been increased to 40,441 tenge and applies to those who have the calculated amount of pension payment for age in full assigned not less than the minimum pension amount.
On behalf of the Head of state, pensions and state benefits were indexed by 10% in annual terms.
From 1 January 2020 performed the annual indexation of the basic pension with inflation at 5% and retirement benefits for age and years of service – 7% (with an inflation rate of 2%).
From 1 April 2020 the pension age and seniority is additionally increased by 5% resulting size.
Thus, the total amount of pensions of Kazakhstanis – basic pension payments, age pension payments and accumulative pension payments from the UAPF-has increased.