Can one retire before time

Pursuant to the applicable legislation, retirement age for men is 63 years old and for women it is 59.5 years old.

However, some Kazakhstani citizens can become pensioners earlier.

In the material, we will describe the underlying conditions.

In which cases women can retire before time?

The Law “On Pension Support of the Republic of Kazakhstan” stipulates an increase of retirement age for women in the period from 2018 to 2027, i.e. within 10 years, 6 months annually.

By 2027, the retirement age for women will reach the one of men, i.e. 63 years old.

At the moment, women retire at the age of 59.5.

The service can be obtained on e-Gov Portal: Assignment of retirement pension payments

Increase of retirement age does not apply to women having a privilege of early retirement:

  • women who gave birth to (adopted) 5 and more children and brought them up to 8 years old (they can retire at the age of 53);
  • women who lived in the zones of extreme and maximum radiation risk of Semipalatinsk Nuclear Test Site in the period August 29, 1949 to July 5, 1963 for no less than 5 years (they can retire at the age of 45).

Also, the privilege was kept for women to keep labour experience during care for minor children but until reaching by each child of 3 years old within 12 years in general.   

What are the conditions enabling men and women to retire before time?

Contributors of the Integrated Accumulative Pension Fund who joined retirement annuity can retire 8 years earlier.  

To do this, a person should conclude a contract with an insurance company providing the service.

Afterwards, the pension fund transfers all the savings to a company and it then makes life-long retirement insurance payments to a customer. 

Thus, men and women at the age of 55 can retire at 51.5 years old. The age for women will increase each year for half a year period. 

To conclude a contract with an insurance company and retire early, one needs to accumulate a sufficient sum which will vary depending on a contributor`s gender and age.  

For example, a man who is 55 years old can retire provided that he has minimum KZT 10 875 485 on an individual pension account.

It is a minimum sum, which can be higher depending on contract conditions.  

For example, there can be a provision under which pension insurance payments will be provided to heirs in case of a pensioner`s death.

Women should accumulate minimum KZT 14 891 719 to retire 8 years earlier. The older contributor becomes, the less sum is needed for early retirement, so, if there are not enough savings at the age of 55, there can be enough later. 

Thanks to retirement annuity, both men and women can retire at the age of 50.

This applies to those who had been working in a hazardous industry for minimum 5 years.

It means that an employer should have transferred mandatory professional pension contributions for no less than 5 years.   

The younger a candidate for early retirement is, the greater sum is needed to be saved in the Integrated Accumulative Pension Fund. 

For a 50 years old man the sum is minimum KZT 12 286 818, while for a 50 years old woman it is KZT 15 209 332.

The sums are annually revised on the legislative level.  

Application for assignment of payments can be submitted via e-Gov Portal: Execution of pension payments generated through mandatory pension contributions, mandatory professional pension contributions out of Integrated Accumulative Pension Fund.  

Last update: 16.10.2020