June 29, 2023
The basic pension of current pensioners will be increased in the next 5 years
No more than 50% of pension savings remaining after withdrawals, or of the entire accumulated amount, depositors can transfer to private management by choosing an asset management company. This was stated by the First Vice-Minister of Labor and Social Protection of the population Akmadi Sarbasov.
According to the speaker, since this year, citizens who have lost their jobs, in accordance with the period of payment of contributions, payments from the State Social Insurance Fund in the amount of 45% of the previous income for up to 6 months are provided.
“We believe that the measures provided for by the Social Code, the Tax Code and other related laws will make it possible to cover self–employed citizens with the social insurance system as much as possible,” Akmadi Sarbasov said at a briefing in the Central Communications Service.
Also, the basic pension will be increased for current pensioners in the next 5 years. In addition, the size of the maximum income used to calculate the size of a labor pension increases from 46 to 55 monthly calculation indices, or up to 70% of the average salary.
“For future pensioners forming a pension at the expense of their own savings, from January 1, 2024, additional pension contributions from employers will be introduced. In addition, the rights of depositors to manage their assets have been expanded. Now, citizens will spend their pension savings above the established sufficiency threshold only on treatment and housing. No more than 50% of pension savings remaining after withdrawals, or of the entire accumulated amount, can be transferred to private management by choosing an asset management company,” the deputy head of the department added.
He also noted that the state guarantee of the safety of pension savings will apply only to the part of savings managed by the National Bank.
Earlier it was reported that from 2025 the poverty line for the appointment of the TSA will be determined by the median income, and not from the subsistence minimum.