An increase of pensions from 1 July will involve 60% of pensioners

In the light of the April speech of the president of RK an increase of pensions is expected in Kazakhstan from 1 July, 2003, which will involve one million pensioners, receiving 5-6 thousand KZT today, Guljana Karagussova, minister of labour and social protection of RK, said today on 15 April at a briefing in Astana.

According to G.Karagussova, an average pension will make more than 8 thousand KZT and the minimal one - 5-6 thousand KZT. G.Karagussova observed that "if the share of pension costs in 2003 makes 123 billion KZT, in 2004 it will reach 170 billion KZT, with the share of pension payments into the GNP making 3.8%". In general additional costs for the pension increase from this year will make 60 billion KZT.

"The pension increase won't be applied to those Kazakhstanis, whose pension will appear to be less than the current one as a result of re-calculation. Another category - those, whose pensions will remain the same. Also, the pensions will not be increased for those, whose pension size does not allow to do it as per the law" - G.Karagussova explained.

According to the ministry of labour and social protection of RK, "currently the ministry develops a three year programme of pensions and public sector workers salaries increase".

Currently there are 1 million 690 thousand pensioners in Kazakhstan.