Pursuant to the current law, the retirement age for men is 63 years old and for women it is 61 years old. From 2023 to 2028, the "retirement" age of women will not change and will be 61 years. The maximum retirement age is 63 years, will be effective from 2031.
However, some Kazakhstani citizens can become pensioners earlier.
In the material, we will describe the underlying conditions.
UAPF depositors who have issued a pension annuity can retire 8 years earlier.
To do this, a person must conclude a contract with an insurance company providing such a service.
After that, the pension fund transfers all savings to the company, and it pays the pension insurance payment to the client for life.
In order to conclude a contract with an insurance company and retire early, you need to accumulate a sufficient amount of money, which varies depending on the gender and age of the depositor.
From 2023, men aged 55 years can purchase an annuity, and women aged 53 years.
For example, among the agreements with an insurance company there may be a clause according to which, after the death of a pensioner, pension insurance payments are still received by his heirs for some time.
Persons who have been working in harmful production for at least 5 years can also conclude a pension annuity agreement. The age of men and women is 50 years. That is, for them, the employer was obliged to deduct mandatory occupational pension contributions for at least 5 years. At the same time, the younger the applicant for early retirement, the more the amount accumulated in the UAPF should be. Payments from insurance companies are indexed by 7% annually.
You can apply for payments through e-government portal
According to article 207 of the Social Code of the Republic of Kazakhstan (hereinafter referred to as the Code), age-related pension payments are made to women upon reaching the age of 61 (until January 1, 2028).
Women who have given birth to (adopted, adopted) 5 or more children and raised them up to the age of eight, upon reaching the age of 53, are eligible for pension payments before the deadline.
In addition, in accordance with articles 206 and 208 of the Code, when calculating the length of service, age-related pension payments and state basic pension payments are counted.:
- the time of a non-working mother's care for young children, but not more than until each child reaches the age of 3 years, within 12 years in total;
- time spent caring for a child with a disability under the age of 18;
- the time of caring for a person with a disability of the first group, a single person with a disability of the second group and a pensioner in need of outside help, as well as the elderly who have reached the age of eighty, and others.
At the same time, depositors of the Unified Accumulative Pension Fund (hereinafter referred to as the UAPF) who have pension savings in the UAPF, upon reaching the age of 55 (men) and 53 (women), are entitled to pension payments from mandatory pension contributions if their pension savings are sufficient to conclude a pension annuity agreement with an insurance company to ensure payments of at least 70 percent of the minimum subsistence level.