The minimum pension will be increased in Kazakhstan
Kazakhstan will hike the minimum pension payments as early as next year. It will rise by almost 5,000 tenge and amount to 53,076 tenge. The Ministry of Finance made the conforming amendment to the Draft Law ‘On the State Budget for 2023-2025’. The document is already under public discussion on the website of the Open legal acts. The relevant ministry also proposes to increase the basic state pension rate up to 21,907 tenge and minimum subsistence level to 40,567 tenge. The monthly calculation index will also go up, reaching 3,450 tenge in 2023. What remains unchanged is the minimum monthly wage. The Finance Ministry considered that the figure should remain the same, which is 60,000 in national currency.