As of July 1, 2023, there are 2.3 million pensioners residing in Kazakhstan
Since the beginning of the year, pensions totaling 1.649 trillion KZT have been disbursed from the national budget. Of this amount, 506.3 billion KZT has been allocated for basic pensions, and 1.1427 trillion KZT for solidarity pensions, according to information from the Ministry of Labor and Social Protection, as reported by Sarbaz.kz.
As of July 1, 2023, the average total pension amounts to 120,641 KZT, with the solidarity pension at 82,805 KZT and the basic pension at 37,836 KZT.
“It should be noted that since July 1, 2018, the state basic pension payment has been individually determined for each recipient based on their participation in the pension system. This includes the work experience accumulated within the solidarity system as of January 1, 1998, as well as periods during which mandatory pension contributions were made”- according to the press release from the Ministry's spokesperson.
For those with 10 or fewer years of participation in the pension system, or in the absence of such participation, the basic pension is set at 60% of the subsistence minimum. For each year above 10 years of participation, the basic pension increases by 2%.
The regular and full payment of mandatory pension contributions leads to a higher amount of the basic pension payout when reaching retirement age. The pension payment amounts, depending on age, are determined by the work experience as of January 1, 1998 (which must be at least 6 months) and the average monthly income received during the pre-retirement period.
