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It will be possible to receive a pension earlier than the required age in Kazakhstan

  It will be possible to receive a pension earlier than the required age in Kazakhstan

In Kazakhstan, a joint pension annuity can be introduced for spouses. Madina Abylkassymova, Chairperson of the Agency for Regulation and Development of the Financial Market, said this at the presentation of the draft law "On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on the Regulation and Development of the Insurance Market and the Securities Market", Standard.kz reports.

A pension annuity is an opportunity to receive a pension earlier than the due date, but subject to the sufficiency of pension savings.

“A joint annuity allows you to combine the retirement savings of a married couple or close relatives to purchase a retirement annuity. If one spouse does not have enough pension savings to buy a pension annuity, and the other has a surplus, then a joint pension annuity will allow both of them to receive lifetime payments, ”Abylkassymova said.

Men can start receiving pension annuity payments from an insurance company from the age of 55. In 2021, the amount of sufficiency to conclude a pension annuity for a 55-year-old man is 6.7 millions tenge. Women - from 52 years old, the amount of sufficiency is 9 millions tenge this year.

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