A meeting of the working group on improving the pension system was held under the chairmanship of Minister of Labor and Social Protection Askarbek Yertayev. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
Within the framework of the working group's activities, experts and specialized institutions proposed a number of conceptual approaches aimed at modernizing the system:
- 01The State Social Insurance Fund (SSIF) proposes introducing social payments depending on income and length of service.
- 02The Unified Accumulative Pension Fund (UAPF) proposed a "4+1" model, under which 4% of contributions go to an individual account and 1% to the insurance component.
- 03Senator Amangeldy Nugmanov proposed establishing a mandatory 40-year work experience for retirement.
Authoritative experts, including Chairman of the Steering Committee of the Astana Civil Service Hub under the UN Alikhan Baimenov, as well as Bolat Zhamishev, Oraz Jandosov and Elena Bakhmutova, are participating in the discussion of these approaches.