Briefly
Obligatory employer pension contributions (OEPC) are to be paid by employers for their employees to the unified pension saving fund.
In details:
When: applicable from January, 1 2024
Goal:
- Increasing the level of pension provision for citizens, taking into account the principles of social justice by distributing responsibility between the state, employee and employer.
Rate:
- From January 1, 2024 - 1,5%
Calculation object:
- Income accepted for calculating the OEPC includes all types of wages in monetary terms and other income. At the same time, the monthly income accepted for calculating the OEPC must be no less than the MMW and must not exceed 50 times the MMW established for the corresponding financial year by the law on the republican budget.
*Minimum monthly wage (MMW) starting form January 1, 2024 = KZT 85 000.
The following categories of employees are not subject to OEPC:
- Individuals who have reached retirement age;
- Individuals with disabilities of the first and second groups;
- Military personnel;
- Employees of special government and law enforcement agencies;
- Individuals born before January 1st 1975.
Are you interested in this topic?
We would be pleased to discuss with you the above amendments and how they may impact your business.
If you are interested in getting additional information, please contact PwC specialists working as part of a group serving your company, or to any of the persons listed here.
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