09 January, 2018

The average pension is 82 thousand tenge in Kazakhstan

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Starting from January 1, 2018, solidarity pension raised by 8%, and the basic pension increased by 6% in Kazakhstan. As a result, the average pension shows 82 thousand tenge, reports Kazakhstan’s Ministry of Labor and Social Protection of the population.

‘From July 1, 2018, considering the length of service before January 1, 1998, and the length of participation in the accumulative pension system after January 1, 1998, the methodology for assigning a basic pension is planned to change. This change will ensure an increase in the basic pension by an average of 1.8 times. Starting from July 1, 2018, the average pension pot will be about 82 thousand tenge’, wrote the Ministry website. In addition, more than 1.9 trillion tenge provides for pension in this year.

Recall, the retirement age for women is 58 years, for men is 63 in Kazakhstan. However, starting from 2018 until the end of 2027, under the new legislation, this age for women will gradually increase to 63 years.

 

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