A working group under the Ministry of Labor continues to discuss possible changes to the pension system. Experts are choosing from three different approaches. This was reported by Qazaqyia.kz citing Kursiv Media.
At a meeting of the working group chaired by Minister of Labor and Social Protection of the Population Askarbek Yertayev, proposals for reform were reviewed by representatives of the expert community and non-governmental organizations.
Meeting participants discussed social guarantees for future pensioners, the adequacy of pension payments, and the impact of demographic changes on the system's long-term sustainability.
Experts are considering three key scenarios. The first is a proposal by the State Social Insurance Fund to introduce a social pension payment, the amount of which will depend on a person's average monthly income, the ratio of this income to the median wage, and length of service. This should reduce dependence on the purely accumulative model and strengthen elements of the solidarity system.
The second model is proposed by the Unified Accumulative Pension Fund (UAPF). Under it, 4% of the employer's mandatory pension contributions will go to the citizen's individual pension account, and another 1% will be directed to the solidarity insurance component. This should guarantee financial support throughout life regardless of its duration.
Also under consideration is a proposal by Senate deputy Amangeldy Nugmanov, who proposes establishing a mandatory 40-year work record as one of the conditions for retirement. For public sector workers who exceed this threshold, it is proposed to provide the opportunity to more flexibly determine the retirement date.
The Ministry of Labor emphasizes that all voiced proposals are still at the discussion stage and are not final decisions. After detailed elaboration, the authorities will assess their financial sustainability, social effectiveness, and possible consequences for citizens.
"All received proposals are considered from the point of view of their financial feasibility, social justice, and practical implementability," said Danara Kairolla, director of the Department of Social Security and Social Insurance.
Earlier it was reported that the pension system in Kazakhstan could be reformed according to two scenarios: the first is the "4+1" project, where 4% of employer contributions go to the employee's personal account and 1% goes to the general insurance fund, in addition to the existing 10% deductions from salary; the second is where all 5% of employer contributions are credited to a general insurance account and later distributed among Kazakhstanis depending on their participation in the system.