--- title: "On Amendments to Resolution No. 45 of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated 7 June 2023 “On Approval of the Standard Pensio" country: KZ lang: en author: Сапа Т.И. (https://buhgpt.kz/authors/sapa-ti) date: 2026-10-14 canonical: https://buhgpt.kz/suraqtar/o-vnesenii-izmeneniy-v-postanovlenie-pravleniya-agentstva-en source: BuhGPT --- # On Amendments to Resolution No. 45 of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated 7 June 2023 “On Approval of the Standard Pensio > **TL;DR:** What happened The Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (ARDFM) amended one of the main documents governing the pension annuity market. The Agency’s Board adopted Resolution No. 131 dated 28 September 2026 . It amends Resol --- What happened The Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (ARDFM) amended one of the main documents governing the pension annuity market. The Agency’s Board adopted Resolution No. 131 dated 28 September 2026. It amends Resolution No. 45 of the Board dated 7 June 2023. The Ministry of Justice of the Republic of Kazakhstan registered the document on 30 September 2026 under No. 40038. Resolution No. 45 regulates several matters at once: - approves the standard pension annuity contract; - establishes the methodology for calculating the insurance premium and insurance benefit payable by an insurance company under such a contract; - sets the permitted level of administrative expenses of an insurance company for new pension annuity contracts; - establishes the insurance benefit indexation rate. The document has been published in the Reference Bank of Regulatory Legal Acts. The official text of Resolution No. 131 should be consulted to determine exactly what has changed in the standard contract, methodology, expense limit or indexation rate and when the amendments take effect. Until then, unconfirmed summaries should not be relied upon. Why this matters A pension annuity allows pension savings to be transferred to an insurance company in exchange for lifetime benefits. The Law “On Pension Provision in the Republic of Kazakhstan” stipulates that the standard form of the pension annuity contract and the procedure for entering into it are developed and approved by the authorised body. Therefore, amendments to Resolution No. 45 affect the terms on which insurance companies enter into new contracts, as well as the calculation of premiums and benefits. Certain guarantees are established by the law itself and are not changed by a subordinate regulatory act: - the monthly insurance benefit may not be less than 70% of the subsistence minimum effective on the date the contract is entered into. If the contract is entered into by two people, the minimum amount is 1.4 times the subsistence minimum; - if one of the two insured persons dies, the benefit payable to the other person may not be less than 70% of the subsistence minimum effective on the date the contract was entered into; - the contract is entered into in writing on the basis of an application from the policyholder or contributor; - the contract takes effect after the pension fund and (or) insurance company transfers the insurance premium to the insurance company in full. Who is affected Prospective and current annuity recipients. These are people entitled to enter into a pension annuity contract using savings from mandatory and (or) mandatory occupational pension contributions. If these savings are insufficient, the law allows voluntary pension savings to be used. Insurance companies operating in the life insurance sector. This also applies to branches of non-resident insurance companies holding the appropriate licence: pension legislation requirements apply to them as well. Insurers will have to bring their contract forms, calculations and internal procedures into compliance with the updated resolution. Pension funds (the UAPF and voluntary funds). They transfer the insurance premium, and the contract takes effect from that moment. What to do If you plan to enter into a pension annuity contract: - Read the text of Resolution No. 131 in an official source and check the date from which the new provisions apply. - Ask the insurance company to calculate the amount of the insurance benefits. By law, the policyholder is entitled to review this calculation, and the insurer must provide it. - Compare offers from several companies. The law expressly states that the person entering into the contract is free to choose an insurance company. - If necessary, engage an independent expert to verify the calculations. The policyholder also has this right. - Obtain a copy of the contract. Insurance companies should check the contract form they use, actuarial calculations of premiums and benefits, the indexation rate and the actual level of administrative expenses against the new version of Resolution No. 45. Deadlines and liability Resolution No. 131 was adopted on 28 September and registered with the Ministry of Justice on 30 September 2026. The effective date and transitional provisions, if any, should be verified in the official text. If an insurance company delays benefits, the law requires it to pay the policyholder or insured person a penalty of 1.5% of the unpaid amount for each day of delay, but no more than 50% of the unpaid amount. Only the policyholder may terminate a pension annuity contract. This is possible if the policyholder enters into a contract with another insurance company, but not earlier than two years after entering into the current contract. The law provides another ground for foreign nationals and stateless persons who leave Kazakhstan for permanent residence and provide documentary proof of their departure. Frequently asked questions Will my benefit under an existing contract change? — This depends on the content and transitional provisions of Resolution No. 131. Check the official text of the document or contact your insurance company. Can the annuity benefit be lower than the subsistence minimum? — Yes, but not lower than 70% of the subsistence minimum effective on the date the contract is entered into, and for a contract covering two people, not lower than 1.4 times the subsistence minimum. Can I choose any insurance company? — Yes. The law guarantees freedom to choose an insurance company when entering into a pension annuity contract. Can I switch to another insurance company? — Yes, but not earlier than two years after entering into the contract and only if you enter into a new contract with another insurer. What happens if the insurance company delays a benefit? — It must pay a penalty of 1.5% of the unpaid amount for each day of delay, but no more than 50% of that amount. --- _BuhGPT — ИИ-помощник для бухгалтеров Казахстана: https://buhgpt.kz_