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Government discusses issues of increasing effectiveness of pension system

Friday, 06 December 2019, 13:39:36

Deputy Prime Minister Berdibek Saparbayev held a meeting of the working group on further improving the pension system in Ukimet Uyi.

The Head of State Kassym-Jomart Tokayev, in his Address to the People of Kazakhstan “Constructive Public Dialogue – the Basis of Stability and Prosperity of Kazakhstanis” instructed the Government to work out the issue of the targeted use of part of their pension savings by working citizens.

During the meeting, the chairman of the UAPF JSC Zhanat Kurmanov presented an analysis of international experience and an assessment of the effectiveness of the pension system in Kazakhstan.

A number of proposals to improve the effectiveness of the pension system were also considered. In particular, the issues of using part of the pension savings to purchase housing or pay for education, the creation of the Unified Social Fund, and the introduction of one social payment were discussed. Relevant recommendations were given on these issues.

By the end of this year, the working group will develop proposals for further improvement of the pension system based on the construction of long-term actuarial models.

The meeting was attended by the Minister of Labor and Social Protection of the Population Birzhan Nurymbetov, President of the Center for Labor Resources Development JSC Tamara Duysenova, Chairman of the Board of the Association of Financiers of Kazakhstan Elena Bakhmutova, member of the Board of First Heartland Jysan Bank JSC Bolat Zhamishev, Executive Secretary of Atameken NCE Alyona Romanova, senior partner of Center for Strategic Initiatives LLP Olzhas Khudaibergenov, as well as representatives of government bodies and non-governmental organizations, experts and public figures.


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