Kazakhstan to raise pensions by 20%

ASTANA. KAZINFORM Beginning from July 1, 2017,  the pensions of two million Kazakhstanis will be increased by 20%, according to Minister of Labour and Social Protection Tamara Duissenova, who said it at the Governmental meeting in Astana on Tuesday.    

“As you know, since the year beginning, the amount of PAYG pension has been raised by 9%. From July 1, 2017, this sum will be increased by 11% additionally – 20% in total. As for basic pension, its amount rose by 7%  in January. It will be additionally increased by 13% from July 1. As a result, from July 1, the amount of the pensions will be 20% higher against 2016 indicators, as set  by the President of the country. The amount of minimum  pension in Kazakhstan  makes 62,000 tenge to date (with the consideration of basic pension), while from July 1, this figure will make 67,041 tenge. Besides, the maximum amount of income used for calculation of retirement pension has been raised and now comprises 46 monthly calculation indices,” said Duissenova.