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Kazakhstan to increase the amount of pension by 9% in 2017

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by October 11, 2016 Legal

“In 2017, the pension will be increased by 9%, the basic pension amount will be 12 802 tenge on the basis of these increases. The total amount of pensions, taking into account basic and solidarity payments will make 60,167 tenge,” Deputy Minister said.

According to him, the sizes of all kinds of social aid will be increased by 7% since January 2017.

In addition, it is planned to implement the concept of social development in order to bring the subsistence level to the new conditions of social and economic development in January 1, 2018.

“A gradual revision of the methodology for calculating the subsistence level is envisaged; at the first phase it involves the change of living wage structure by changing the ratio of food and non-food parts. Additional spending on social benefits provided to implement these changes. These are basic pensions of survivors benefit payments, which are calculated for 2018 – 63 billion tenge, in 2019 – 88 billion tenge,” B. Nurymbetov said.

Source: The Prime Minister of Kazakhstan

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