The amount of the monthly pension payment from the UAPF is determined as one twelfth of the annual amount of pension payments calculated in accordance with the provisions of the Decree of the Government of the Republic of Kazakhstan dated October 2, 2013 No. 1042 (Appendix 2 Methodology for calculating the amount of pension payments). At the same time, the monthly pension payment from the UAPF is carried out in the amount of at least 70% of the subsistence minimum. (Previously, the monthly pension payment from the UAPF was carried out in the amount of at least 54% of the subsistence minimum).
In accordance with the Methodology for Calculating the Amount of Pension Payments, from April 1, 2021, the annual amount of pension payments in the first year of pension payments will be calculated as the product of the amount of pension savings and the pension savings payment rate - 6.5%.
In subsequent years, the size of the monthly pension payment will be recalculated by annually increasing the size of the monthly pension payment for the previous year by the indexation rate of pension payments - 5%.
Here's an example:
Amount of pension savings = 6,000,000 tenge
Annual amount of pension payments in the first year: 6,000,000*6.5%=390,000 tenge;
The amount of the monthly pension payment in the first year: 390,000/12 months = 32,500 tenge;
The amount of the monthly pension payment for the second year: 32,500+ 32,500*5%=34,125 tenge.
In addition, the Methodology for calculating the amount of pension payments provides for correction multipliers for recipients of certain categories: people with disabilities of groups 1 or 2, established indefinitely, as well as people who worked in hazardous and hazardous industries, whose savings are formed at the expense of mandatory professional pension contributions in aggregate of at least sixty months. In this case, for persons who meet more than one of the above conditions, the correction factor with the largest value is applied.
It should be noted that the specified methodology for calculating the amount of pension payments applies to relations that arose from April 1, 2021.
For persons who exercised their right to receive pension payments from the UAPF before January 1, 2018, the annual pension payment is at least thirty times the minimum pension (in 2021 30 x 43,272 = 1,298,160 tenge). Payments are made according to the previously selected schedule.
For persons who exercised their right to receive pension payments from the UAPF from January 1, 2018 to March 31, 2021 (inclusive), according to the new Methodology for calculating the amount of pension payments, from January 1, 2022, monthly pension payments will be increased by the indexation rate of pension payments in the amount of 5%, followed by annual indexation.
Thus, the new Methodology for calculating the amount of pension payments takes into account the specifics of the working conditions and health of recipients, and will also help increase the annual amount of payments from the UAPF.
Recall that pension payments from the UAPF are made until the pension savings on the individual pension account are exhausted.