Representatives of the fund have reported that the payouts will depend on the accumulated funds and investment income.
They specified that the total amount of payouts for each Kazakhstani is determined by the volume of contributions collected during their working life and the income generated from their investment.
Citizens who have reached retirement age or meet other conditions outlined in the Social Code will begin to receive monthly payments.
According to the approved methodology, the first year's payouts are calculated approximately as follows: the amount in the individual account is multiplied by a coefficient of 6.5%, and then divided by 12.
In the second year and subsequent years, the payouts increase by 5%. The minimum amount cannot be lower than 70% of the established subsistence minimum, which this year is 46,228 tenge.
There is no upper limit on the payouts, as they depend on the total amount of savings.
For certain categories of citizens, such as individuals with disabilities of the 1st and 2nd groups or pensioners with contributions of 60 months or more, higher coefficients are applied.
If a person meets multiple conditions, the maximum coefficient is utilized.
According to ENPF information, payouts continue as long as there are funds in the individual account. These savings are considered the personal property of the contributor and can be inherited under civil legislation.