Article 220. The right to pension payments due to mandatory pension contributions of the Social Code of the Republic of Kazakhstan

Home / RLA / Article 220. The right to pension payments due to mandatory pension contributions of the Social Code of the Republic of Kazakhstan

1. Pension payments due to mandatory pension contributions are provided to persons who have pension savings in a single accumulative pension fund.:

1) specified in paragraph 1 of Article 207 of this Code;

2) those with disabilities of the first and second groups, if the disability has been established indefinitely;

3) foreigners and stateless persons who have left the Republic of Kazakhstan for permanent residence, unless otherwise provided by the laws of the Republic of Kazakhstan and international treaties ratified by the Republic of Kazakhstan;

4) upon reaching the age of forty-five, if pension savings are sufficient to conclude a pension annuity agreement with an insurance company to ensure insurance payments of at least 70 percent of the minimum subsistence level established by the law on the republican budget and effective on January 1 of the relevant fiscal year, in accordance with Article 225 of this Code.

1-1. Upon reaching the age of fifty-five and paying mandatory occupational pension contributions for them for a total of at least eighty-four months, subject to their termination of employment in jobs with harmful working conditions or transfer to another job that excludes the effects of harmful industrial factors, they are entitled to pension payments from mandatory pension contributions in accordance with the procedure established by the Legislation of the Russian Federation. determined by the Government of the Republic of Kazakhstan.

IZPI's note!

Paragraph 2 is effective from 01.01.2028 in the wording provided for in Article 263 of this Code.

2. A lump sum of pension savings from a single accumulative pension fund is paid if the amount of pension savings of the persons specified in subitems 1) and 2) of paragraph 1 of this Article does not exceed twelve times the minimum pension amount established by the law on the republican budget and effective on January 1 of the relevant financial year.

3. Lump-sum pension payments for the purpose of improving living conditions in one's own favor or of a spouse or close relatives and (or) to pay for medical treatment for oneself or a spouse or close relatives are made in the presence of one of the following conditions:

if the amount of pension savings due to mandatory pension contributions available in the individual pension account of the depositor of mandatory pension contributions exceeds the threshold of minimum sufficiency of pension savings determined in accordance with the methodology approved by the Government of the Republic of Kazakhstan;

if the amount of pension for the persons specified in paragraphs 1, 2 and 3 of Article 207 of this Code, as well as the amount of monthly maintenance for the persons specified in paragraph 4 of Article 207 of this Code, ensures the replacement rate of the recipient's average monthly income at a level not lower than 40 percent, determined in accordance with the procedure determined by the Government of the Republic of Kazakhstan. When calculating the replacement rate of the average monthly income, the recipient's income preceding the retirement date is taken into account, but not more than the average monthly income in the republic.;

if the depositor of mandatory pension contributions has concluded a pension annuity agreement with an insurance company;

if the depositor is a recipient of retirement benefits for years of service.

4. In case of death of a person who has pension savings in the unified accumulative pension fund at the expense of mandatory pension contributions, they are inherited in accordance with the procedure established by the legislation of the Republic of Kazakhstan.

President

Republic of Kazakhstan

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