Minimum pension to grow to KZT33,000 in 2018
ASTANA. KAZINFORM In 2018, in Kazakhstan, when the basic pension assignment procedure changes, the average amount of a pension payment will grow to KZT 71,000, while the minimum one will increase to KZT 33,000, Kazinform correspondent reports.
"Considering [the changes in the procedure of assigning] a basic pension payment, we expect that the average amount [of a pension in Kazakhstan] will grow and amount to KZT 71,000. The minimum pension will be about KZT 33,000 next year," Svetlana Zhakupova, Vice Minister of Labor and Social Protection of the Population of the Republic of Kazakhstan, told a briefing at the Central Communications Service on Monday.
According to the Vice Minister, one needs the maximum length of employment to receive the maximum pension. Besides, the pension amount is equal to 60% of the income lost upon the required length of employment - 25 years for men and 20 years for women.