Kazakhstan - The New Pensions in Kazakhstan : Challenges in Making the Transition
This report discuses Kazakhstan's pension system reform which is nearing the completion of the sixth year of its implementation. In addition to the need to address the design and operation of the payout phase of the pension system, the report...
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| Format: | Policy Note |
| Language: | English en_US |
| Published: |
Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2004/05/5520535/kazakhstan-new-pensions-kazakhstan-challenges-making-transition http://hdl.handle.net/10986/14362 |
| Summary: | This report discuses Kazakhstan's
pension system reform which is nearing the completion of the
sixth year of its implementation. In addition to the need
to address the design and operation of the payout phase of
the pension system, the report finds two main areas in which
changes and refinements to the pension system should be
considered: (1) Changes to the basic benefit and financing
structure of the system, during both the transitional and
fully implemented stage. These should be aimed at improving
the capacity of the system to provide adequate and equitable
benefits; and (2) Improvements to the institutional and
regulatory infrastructure to enhance the security and
efficiency of the pension system. The report also provides
recommendations for changes to the initial framework that
would enhance the capacity of the reform to achieve the
long-term goal of a sustainable, affordable and equitable
pension system. This study reviews the experience gained, in
the light of current conditions and projected outcomes, and
draws conclusions about the likely medium and long-term
consequences of the current design of the pension system.
The report also provides recommendations for changes to the
initial framework that would enhance the capacity of the
reform to achieve the long-term goal of a sustainable,
affordable and equitable pension system. |
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