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Majilismen approve bill on increasing pensions and benefits

by May 17, 2017 Health

The Majilis of the Parliament of the Republic of Kazakhstan approved a bill on increasing pensions and benefits.

As Minister of Labor and Social Protection of Population Tamara Duissenova noted, presenting the bill at the plenary session of the Majilis, the draft Law provides for the improvement of social and pension legislation to ensure a decent standard of living for citizens at retirement age, as well as the strengthening of measures to support families with children and vulnerable categories of citizens.

In accordance with the Head of State’s instructions given in his Address, in 2017-2018 pensions will be raised in three stages, � Tamara Duissenova said.

The Minister said that at the first stage, that is, on January 1, 2017, the size of solidarity pensions was increased by 9%, basic pensions increased 7%. At the second stage, from July 1, 2017, the sizes of both solidarity and basic pensions will be increased, solidarity pension by 11%, and base pension by 13%. As a result, from July 1, 2017, the amount of pensions will be increased 20% compared to pensions in 2016.

In other words, the size of the minimum pension will be 45711 tenge, average pension � 66776, and this increase applies to all pensioners, that is, more than 2 million people � Tamara Duissenova said.

Also, according to the Minister, from July 1, 2017, it is planned to increase the maximum amount of income that is accepted for assigning retirement pensions from 41 to 46 monthly calculation indicators.

This is proposed to ensure comparability in the amount of pensions set in the first half of 2017, accounting for the increase of up to 11%, and pensions set in the second half of this year, � Tamara Duissenova explained.

The third stage of the increase, according to the announced data, will be held from July 1, 2018, it will concern changes in the methodology for assigning basic pensions.

Today, the basic pension is assigned to persons who have reached the retirement age in the same amount. In accordance with the new approaches, it will be appointed depending on the length of participation in the pension system, which includes work experience up to 1998 and the period of pension contributions to the accumulative pension system after 1998. The base pension will be recalculated for all retired people, based on the length of service until 1998, � Tamara Duissenova concluded.

Source: Government of the Republic of Kazakhstan