Kazakhstan and Mongolia have agreed to cooperate in the pension sector. The corresponding intergovernmental agreement has been ratified by the Mazhilis, the lower house of the Kazakh Parliament. Its implementation is expected to help strengthen mutual trust between the two countries. Under the agreement, when Kazakh and Mongolian citizens relocate, their employment history accumulated in both countries will be recognized and factored into the calculation of pension benefits. Pension assignments and payments will be made in accordance with the legislation of the country of residence.
«The
agreement was signed on October 29, 2024, in Ulaanbaatar during the Head of
State’s visit to Mongolia. The draft law provides for the ratification of the
signed agreement. As for the agreement itself, concluded between the Kazakh and Mongolian governments on cooperation in the pension sector, its primary
purpose is to
regulate relations concerning the assignment of pension benefits to civilians, specifically
solidarity pensions. This
includes the mutual recognition of employment history, as well as the counting
work periods accumulated during military service and study at vocational
institutions and universities,» said Kazakh Vice Minister
of Labor and Social Protection of the Population Victoria
Shegai.
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