Government • 06 December, 2019

The government discusses issues of improving the efficiency of the pension system

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In Ukimet Uyi, Deputy Prime Minister of Kazakhstan Berdibek Saparbayev held a regular meeting of the working group on further improvement of the pension system, primeminister.kz reports.

Head of state Kassym-Jomart Tokayev in his Address to the people of Kazakhstan "Constructive public dialogue – the basis of stability and prosperity of Kazakhstan" instructed the Government to work out the issue of targeted use of working citizens of their pension savings.

During the meeting, Chairman of the Board of JSC "ENPF" Zh. Kurmanov presented the analysis of international experience and assessment of the effectiveness of the pension system in Kazakhstan.

A number of proposals to improve the efficiency of the pension system were also considered. In particular, they discussed the use of part of pension savings for the purchase of housing or education, the creation of a Single social Fund, the introduction of a single social payment. Relevant recommendations have been made 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 Minister of labor and social protection of the population B. Nurymbetov, President of JSC "CRTR" T. Duissenova, Chairman of the Board of JSC "Association of financiers of Kazakhstan" E. Bakhmutova, member of the Board of Directors of JSC "First Heartland Jysan Bank" B. Zhamishev, Executive Secretary of NCE "Atameken" A. Romanova, senior partner of LLP "Center for strategic initiatives" O. Khudaibergenov, as well as representatives of state bodies and non-governmental organizations, experts and public figures.

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