Employer's Mandatory Pension Contributions (OPVR) in Kazakhstan in 2025: Features and Nuances
The New Year traditionally brings new legislative norms in Kazakhstan. Starting January 1, 2025, companies in Kazakhstan are required to make mandatory employer pension contributions (OPVR) for their employees. It is important to note that these contributions are only required for employees born after January 1, 1975.
Who is Exempt from OPVR Contributions to the State Social Health Insurance Fund (FSSMS)?
In addition to employees born before January 1, 1975, there are five other categories of individuals for whom OPVR contributions are not required in Kazakhstan starting in 2025. These include:
Онлайн-бухгалтерия
Ведите учёт своего бизнеса легко!
- Retirees (men over 63 years old, women over 61 years old).
- Persons with disabilities in Groups I and II (if the disability is permanent).
- Military personnel (excluding conscripts).
- Individuals receiving a pension for long service.
- Judges of the Constitutional Court of the Republic of Kazakhstan who have left office due to the expiration of their term and receive a lifetime pension.
How to Calculate Employer's Mandatory Pension Contributions (OPVR) in 2025?
There are two key factors to consider when calculating OPVR in 2025: the current rate and the employee's income.
As of January 1, 2025, the OPVR rate will reach 2.5%. In subsequent years, it will increase by 1% annually, reaching 5% by January 1, 2028. The gradual increase is intended to reduce the financial burden on employers and allow them time to adapt to the new realities.
The rate is applied to the employee's monthly income. Income includes not only salary but all forms of monetary compensation (bonuses, etc.). The monthly income subject to OPVR cannot be less than the minimum wage and cannot exceed 50 times the minimum wage.
The contributions are paid by the employer and are transferred monthly to a conditional pension account opened for each employee in the Unified National Pension Fund (ENPF). Transactions are carried out through the "Government for Citizens" service, and the employer must attach a list of employees for whom contributions are being made.
When to Pay OPVR in 2025?
The deadlines for pension contributions (OPVR) depend on the type of employer. Most employers make contributions by the 25th of the month following the month in which the employee received the funds. These deadlines are relevant for individual entrepreneurs, farming enterprises, insurance companies, and others..
However, there are exceptions. For instance, state enterprises must complete their payments by the 15th of the month following the month of payment. A special deadline is also provided by the Tax Code for individual entrepreneurs operating under a patent regime.
The introduction of OPVR is one of the measures in Kazakhstan's ongoing pension reform. The purpose of these contributions is to ensure citizens receive a decent pension, align pension payments with work experience, and improve the living standards of retirees.
This article has been translated from its original language using neural network-based translation technology.
Нацбанк Казахстана установил курс доллара к тенге по состоянию на 14.01.2025 г. – 530,24 тг., курс российского рубля – 5,16 тг.
Курс доллара за прошедший день ослаб. В сравнении с курсом, действовавшим 14.01.2025 г., рост составил +1,72 тг. (с 528,52 тг. до 530,24 тг.). При этом курс рубля немного укрепился, падение составило -0,01 тг. (с 5,17 тг. до 5,16 тг.).
Курс USD/KZT снизился до 529,6 тенге (-0,21%) при объеме торгов в 300 млн USD.
По заявлению Нацбанка, в январе 2025 года ожидается продажа валюты из Национального фонда в размере от 750 до 850 млн USD. Это могло поддержать курс тенге на фоне повышенных объемов торгов.