EAEU: work without loss of pension accruals
EAEU member states are negotiating on the Treaty on pension provision for employees of the Eurasian Economic Union. Under this document, Kazakhstan, Russia, Belarus, Armenia and Kyrgyzstan will ensure pension contributions not only for their citizens.
It is planned that from 2018 the employer will make monthly payments in the amount of 5% for the employee. The remaining 10% pension contribution will be ensured by the worker himself, according to the Kazakhstan’s Law on Pension Provision.
Mikhail SAGDIEV, DIRECTOR, ECOLOS LLP:
I think it is great when people can earn abroad and get pension contributions there.
Now EAEU participating countries are coordinating some items on the Treaty on pension provision for employees of the Eurasian Economic Union.
Svetlana ZHAKUPOVA, DEPUTY MINISTER OF HEALTHCARE AND SOCIAL DEVELOPMENT:
Kazakhstanis will have a right for pension contribution in Russia, Belarus, Kyrgyzstan and Armenia under the equal conditions. If a person migrates from the Russian Federation and is employed in Kazakhstan, his retirement savings back in Russia will be transferred to the country of residence until he reaches retirement age.
In recent years, labor migration between the EAEU countries has increased. In 2012 Kazakhstan companies hired 128 citizens of Belarus and almost 5,000 Russians. In 2014, more than 9,000 non-residents were registered. The number of Kazakhstanis employed in Russia, Belarus and Armenia amounted to 70,000 people last year.