Pensions to increase by 9% since January 1, 2013

ASTANA. December 12. KAZINFORM The enlarged sitting of the board of the Ministry of Labor and Social Protection of Kazakhstan was held on Wednesday. The measures on improvement of the pension system were considered at the sitting, the press service of the Ministry informs.
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"In order to maintain the buying capacity of pensions, it is planned to increase the volume of pensions by 9% in Kazakhstan since January 1, 2013. Presently, the corresponding project is prepared for submitting for consideration of the Government of Kazakhstan," the statement of the Ministry reads.

It was also noted that the minimum pension will be raised from 17491 tenge to 19066 tenge, the average pension will be 32928 tenge

Besides, the Majilis of the Parliament of Kazakhstan considers a possibility of amending the Law of Kazakhstan "On pension provision of Kazakhstan" in the sphere of addressing the issues of pension provision of the citizens of Baikonyr town, redemption of debts on compulsory pension contributions by employers and development of annuity insurance.

It is worth noting that the pension payments were increased by 9% on January 1, 2012.as of December 1, 2012, the average pensions made 38660 tenge.  


Source: kazakh PM's website

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