Subsoil Use: Additional Contributions to Unified Cumulative Pension Fund

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A list of the production areas, jobs and employee occupations for which employers are to make occupational pension contributions at their own expense has been approved.

As of 1 January 2014, the Law “On Provision of Pensions in the Republic of Kazakhstan” dated 21 June 2013 (hereinafter, the “Law”) requires all employers whose employees are engaged in work with harmful (extremely harmful) working conditions to make, at their own expense, mandatory occupational pension contributions (the “Occupational Pension Contributions”) for the benefit of such employees.

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Topics:  Employee Benefits, Oil & Gas, Pensions

Published In: Finance & Banking Updates, International Trade Updates, Labor & Employment Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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