This agreement outlines in detail the procedures for the appointment and payment of pensions for citizens of both countries, as well as issues related to the accounting of work experience and the possibility of transferring pension savings. Senator Amangeldy Yesbay noted that the main goal of this agreement is to regulate the legal relations related to pension payments. In particular, the document provides for mutual recognition of work experience within the framework of a solidarity pension system. It also takes into account periods of military service and time spent in higher and secondary vocational educational institutions as part of work experience.
Furthermore, according to the senator, the law introduces a new form of interaction regarding the export of pension savings. This will facilitate a broader use of citizens' pension funds in the territory of another country. The agreement will also establish a procedure for confirming work experience accumulated in Kazakhstan and Mongolia for the purpose of pension payments.
