In addition to the state pension, Kazakhstanis can receive payments from their pension savings. However, at the moment their average size is insufficient. Read more in the material NUR.KZ.

The pension system in Kazakhstan is multi-level. It includes a pension from the state budget and payments from the Unified Accumulative Pension Fund (UPF).

The state pension, in turn, is divided into a basic and joint part. According to the latest data, the average size of the first component is42,694 tenge, and the second -89,901 tenge.

At the same time, as reported by the Unified Accumulative Pension Fund, as of April 1, 2024, the average monthly payment from the UAPF in connection with reaching retirement age was total33,985 tenge. This is significantly less than any of the components of the state pension.

However, it is important to understand thatthe size of the pension payment from the fund depends on the amount of savings that a Kazakhstani had managed to accumulate by the time of retirement. For example, the maximum payment from the UAPF is currently equal to945,752 tenge.

In total, since the beginning of the year, the Unified Accumulative Pension Fund has allocated44.6 billion tenge to payments to old-age pensioners.

As for the savings themselves, On April 1, 2024, the total amount of funds in individual pension accounts of UAPF contributors reached 18.9 trillion tenge. The increase since the beginning of the year was about 5.7%, or 1.02 trillion tenge.

It is worth noting that part of these funds was generated by the new compulsory employer pension contribution (OPVR), which was introduced this year. According to the fund, in three months it received about 37.5 billion tenge.

Recall that the OPVR was introduced precisely because of small pension payments. At the moment, a pension from the UAPF cannot fully replace the solidary part of the state pension, which is only due to citizens who have work experience before 1998.

Future pensioners will not have such work experience at all. Therefore, they need to find a new source of payments that would allow them to receive a pension of an adequate size.