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Kazakhstan's Ministry of Labor and Social Protection has released projections for pension payments up to the year 2030. These figures are crucial for shaping the national budget and provide insight into the future financial landscape for retirees.

Projected Pension Growth

A document outlining key social sector indicators for 2026-2030 forecasts a steady rise in pension amounts for Kazakh citizens. The minimum pension, which is the guaranteed total payment for those with qualifying service before 1998, is expected to increase from 69,000 tenge in 2026 to approximately 85,900 tenge by 2030. This represents an overall increase of about 24% over the five-year period.

Rising Basic Pension Payments

The basic pension, a payment provided to all retirees regardless of their work history, is also set for an increase. Currently standing at 35,600 tenge, it is projected to reach 37,900 tenge in 2026, 40,000 tenge in 2027, and climb to 44,000 tenge by 2030.

It's important to note that both basic and solidarity pensions are funded by the state budget. In addition to these, citizens also have their own savings accumulated in the Unified Accumulative Pension Fund (UAPF). The total income for a retiree is a sum of these three components.

Minimum Living Standard Increase

The projections also indicate an increase in the minimum living standard by 2030, rising from the current 50,800 tenge to an anticipated 63,000 tenge.

Previously, Azamat Zholdasbekov, former Chairman of the Payment and Insurance Guarantees Fund, presented a table illustrating the connection between UAPF savings and pension amounts, detailing the required savings for a monthly pension of 812,500 tenge.

This information was reported by Infohub.kz.