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Astana, Kazakhstan • 21 August, 2023 | 10:40

How Will Minimum Wage and Pensions Change in Kazakhstan in 2024?

Finance Ministry defines social expenditures for the upcoming three years

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Ruslan Pryanikov
Ruslan Pryanikov

The Ministry of Finance has drafted a law related to the republican budget for 2024-2026, defining the volume of social expenditures for the given period, QazMonitor reports.

The document outlines the following figures for the size of pensions and cost of living across Kazakhstan starting from January 1, 2024:

  • The minimum wage is established at ₸70,000 ($154.41 as of August 21, 2023)

  • The minimum state basic pension payment is set at ₸28,215 ($62.24)

  • The minimum pension is ₸57,853 ($127.62)

  • The Monthly Calculation Index is ₸3,692 ($8.14)

  • The minimum cost of living used for calculating the amount of basic social payments is ₸43,407 ($95.75)

Furthermore, the authorities aim to increase pension payments based on age and length of service by 9.0%. The document also stipulates the amount of social expenditures for mandatory social health insurance for 2024.

For military personnel (excluding conscripts), employees of special state and law enforcement agencies, and the state courier service, the monthly monetary compensation for housing maintenance and utilities payment has been established at ₸3,739 ($8.25).

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