I recently registered as a sole trader. How can I transfer pension contributions?
According to Article 25 of the Law of the Republic of Kazakhstan “On Pension Provision for the Republic of Kazakhstan” (hereinafter referred to as the Law), for individuals engaged in private practice, individual entrepreneurs, as well as individuals receiving income under civil law contracts, the subject of which is the performance of work (provision of services), with the exception of the case provided for by subparagraph 5) of paragraph 2 of Article 24 of the Law, mandatory pension contributions in their favor, payable to the UAPF, are set at 10 percent of the income received, but not less than 10 percent of the minimum wage and not above 10 percent of the 50-fold minimum wage established for the relevant financial year by the law on the republican budget.
The income received is the income determined independently by a person engaged in private practice, as well as an individual entrepreneur for calculating mandatory pension contributions to the UAPF in their favor. In the absence of income, individuals engaged in private practice, as well as individual entrepreneurs, have the right to pay mandatory pension contributions to the UAPF in their favor at the rate of 10 percent of the minimum wage established for the corresponding financial year by the law on the republican budget.
In accordance with paragraph 8 of the Rules and terms for calculating, withholding (accrual) and transferring mandatory pension contributions, mandatory professional pension contributions to the unified accumulative pension fund and penalties on them, approved by the Decree of the Government of the Republic of Kazakhstan dated October 18, 2013. No. 1116, the transfer of mandatory pension contributions is made by the agent through non-cash payments. Lawyers, private bailiffs, private notaries, professional mediators, individual entrepreneurs, as well as individuals who receive income under civil law contracts who do not have accounts in second-tier banks and organizations engaged in certain types of banking operations (hereinafter referred to as STB), make mandatory pension contributions in cash to STB for their subsequent transfer to the UAPF. Payment of mandatory pension contributions in cash or non-cash through STB is carried out in the manner prescribed by the Law of the Republic of Kazakhstan "On payments and payment systems".