Alert. Agreement on Pension Coverage for Employees of the EEU Member States
On 1 January 2021, the Agreement on Pension Coverage of Employees of the Eurasian Economic Union Member States, ratified by the Republic of Kazakhstan on 7 December 2020 (hereinafter - “Agreement”), entered into force.
The main purpose of the Agreement is formation of equal rights in the field of pension coverage among citizens of the EAEU member states. In other words, citizens of a member state of the EAEU performing labour (civil) activity on the territory of the Republic of Kazakhstan shall be entitled to the very same pension coverage rights as the citizens of the Republic of Kazakhstan.
The Agreement additionally envisages: a mechanism for export of pension savings between the EAEU member states, the procedure for medical examination when a disability pension is assigned, inheritance of pension savings, as well as provisions on the required period of employment and calculation of the pension.
Authors:
Marina Kolesnikova, Counsel, GRATA International
Damir Abdrakhmanov, Junior Associate GRATA International
Almaty