Pursuant to Rules for Payments of Pensions from pension savings generated at the expense of compulsory and compulsory professional pension contributions from unified accumulative pension fund approved by Decree No.1042 of the Government of the Republic of Kazakhstan as of October 2, 2013 (hereinafter – Rules No. 1042) UAPF pension payments generated at the expense of compulsory pension contributions and compulsory professional pension contributions according to established schedule shall be paid on monthly, quarterly and annual basis.
Annual amount of pension payments according to established schedule at the expense of compulsory pension contributions and compulsory professional pension contributions shall be calculated and not exceed the most of the following:
1. thirtyfold minimum pension set for corresponding financial year by the law on the Republican budget (the size of the minimum pension increased to 28,148 tenge), and is 844 440 tenge (30 * 28148);
2. value calculated as product of total pension savings by a factor of current value of pension savings in the recipient’s corresponding age pursuant to Methods of Calculation of Pension Payments. This calculation applies to 63 years old male recipients with the amount of pension savings of 8.067 million tenge and more, and female recipients of 58 consecutive years wtih 8.963 million tenge and more.