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 |
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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 |
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okr-10986-143622021-04-23T14:03:18Z Kazakhstan - The New Pensions in Kazakhstan : Challenges in Making the Transition World Bank ACCESS TO INFORMATION ANNUITY ASSET MANAGEMENT ASSETS AVERAGE BENEFITS BASIC BENEFIT BENCHMARK BENCHMARKS BOND BONDS CANCER CAPITAL MARKET CAPITAL MARKETS CLEARINGHOUSE CONSUMER PRICE INDEX CONSUMPTION LEVELS CORPORATE DEBT CPI CURRENCY APPRECIATION DEBT DEMOGRAPHIC TRANSITION DEVELOPED COUNTRIES DEVELOPMENT STRATEGY DISCLOSURE DISCLOSURE RULES ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC OBJECTIVES EQUILIBRIUM EXCHANGE RATE EXPENDITURES EXPORTS FINANCIAL SECTOR FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTORS FOREIGN OWNERSHIP FUNDED ACCOUNTS FUNDED PENSIONS GDP GOVERNMENT SECURITIES HAZARDOUS OCCUPATIONS HOUSEHOLDS HUMAN DEVELOPMENT INCOME DISTRIBUTION INDIVIDUAL ACCOUNTS INFLATION INFORMAL SECTOR INSURANCE COMPANIES INSURANCE COMPANY INTEREST RATE INTEREST RATES INTERNATIONAL BOND MARKETS INVESTMENT OPTIONS INVESTMENT PERFORMANCE INVESTMENT PRODUCTS INVESTMENT RESTRICTIONS INVESTMENT RISK INVESTMENT RISKS INVESTMENT STRATEGY LEGAL FRAMEWORK LIFE ANNUITIES LIFE EXPECTANCY LIFE INSURANCE LONGEVITY RISK MINIMUM INCOME MORAL HAZARD MORTALITY TABLES MORTGAGE MARKETS MUTUAL FUNDS OIL OIL PRICES PAYOUT PAYROLL TAX PENSION COSTS PENSION FUND PENSION FUNDS PENSION LAW PENSION REFORM PENSION SAVINGS PENSION SYSTEM PENSION SYSTEM REFORM PENSION SYSTEMS PENSIONERS PENSIONS POLITICAL ECONOMY PORTFOLIO PORTFOLIO DIVERSIFICATION POSITIVE EFFECTS POVERTY ALLEVIATION PRESENT VALUE PRIVATE PENSION PRUDENTIAL REGULATION RATES OF RETURN REAL WAGES REPLACEMENT RATE REPLACEMENT RATES RETIRED PEOPLE RETIREES RETIREMENT RETIREMENT AGE RETIREMENT AGES RETIREMENT INCOME RISK MANAGEMENT SAFETY SECURITIZATION SOCIAL ASSISTANCE SOCIAL INSURANCE SOCIAL POLICY SOLVENCY REQUIREMENTS STOCK EXCHANGE TAX PURPOSES TAX RATE TRANSITION ECONOMIES WAGE DIFFERENTIALS WAGE GROWTH WAGES WEALTH 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. 2013-07-03T16:56:24Z 2013-07-03T16:56:24Z 2004-05 http://documents.worldbank.org/curated/en/2004/05/5520535/kazakhstan-new-pensions-kazakhstan-challenges-making-transition http://hdl.handle.net/10986/14362 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Policy Note Economic & Sector Work Europe and Central Asia Kazakhstan |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO INFORMATION ANNUITY ASSET MANAGEMENT ASSETS AVERAGE BENEFITS BASIC BENEFIT BENCHMARK BENCHMARKS BOND BONDS CANCER CAPITAL MARKET CAPITAL MARKETS CLEARINGHOUSE CONSUMER PRICE INDEX CONSUMPTION LEVELS CORPORATE DEBT CPI CURRENCY APPRECIATION DEBT DEMOGRAPHIC TRANSITION DEVELOPED COUNTRIES DEVELOPMENT STRATEGY DISCLOSURE DISCLOSURE RULES ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC OBJECTIVES EQUILIBRIUM EXCHANGE RATE EXPENDITURES EXPORTS FINANCIAL SECTOR FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTORS FOREIGN OWNERSHIP FUNDED ACCOUNTS FUNDED PENSIONS GDP GOVERNMENT SECURITIES HAZARDOUS OCCUPATIONS HOUSEHOLDS HUMAN DEVELOPMENT INCOME DISTRIBUTION INDIVIDUAL ACCOUNTS INFLATION INFORMAL SECTOR INSURANCE COMPANIES INSURANCE COMPANY INTEREST RATE INTEREST RATES INTERNATIONAL BOND MARKETS INVESTMENT OPTIONS INVESTMENT PERFORMANCE INVESTMENT PRODUCTS INVESTMENT RESTRICTIONS INVESTMENT RISK INVESTMENT RISKS INVESTMENT STRATEGY LEGAL FRAMEWORK LIFE ANNUITIES LIFE EXPECTANCY LIFE INSURANCE LONGEVITY RISK MINIMUM INCOME MORAL HAZARD MORTALITY TABLES MORTGAGE MARKETS MUTUAL FUNDS OIL OIL PRICES PAYOUT PAYROLL TAX PENSION COSTS PENSION FUND PENSION FUNDS PENSION LAW PENSION REFORM PENSION SAVINGS PENSION SYSTEM PENSION SYSTEM REFORM PENSION SYSTEMS PENSIONERS PENSIONS POLITICAL ECONOMY PORTFOLIO PORTFOLIO DIVERSIFICATION POSITIVE EFFECTS POVERTY ALLEVIATION PRESENT VALUE PRIVATE PENSION PRUDENTIAL REGULATION RATES OF RETURN REAL WAGES REPLACEMENT RATE REPLACEMENT RATES RETIRED PEOPLE RETIREES RETIREMENT RETIREMENT AGE RETIREMENT AGES RETIREMENT INCOME RISK MANAGEMENT SAFETY SECURITIZATION SOCIAL ASSISTANCE SOCIAL INSURANCE SOCIAL POLICY SOLVENCY REQUIREMENTS STOCK EXCHANGE TAX PURPOSES TAX RATE TRANSITION ECONOMIES WAGE DIFFERENTIALS WAGE GROWTH WAGES WEALTH |
| spellingShingle |
ACCESS TO INFORMATION ANNUITY ASSET MANAGEMENT ASSETS AVERAGE BENEFITS BASIC BENEFIT BENCHMARK BENCHMARKS BOND BONDS CANCER CAPITAL MARKET CAPITAL MARKETS CLEARINGHOUSE CONSUMER PRICE INDEX CONSUMPTION LEVELS CORPORATE DEBT CPI CURRENCY APPRECIATION DEBT DEMOGRAPHIC TRANSITION DEVELOPED COUNTRIES DEVELOPMENT STRATEGY DISCLOSURE DISCLOSURE RULES ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC OBJECTIVES EQUILIBRIUM EXCHANGE RATE EXPENDITURES EXPORTS FINANCIAL SECTOR FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTORS FOREIGN OWNERSHIP FUNDED ACCOUNTS FUNDED PENSIONS GDP GOVERNMENT SECURITIES HAZARDOUS OCCUPATIONS HOUSEHOLDS HUMAN DEVELOPMENT INCOME DISTRIBUTION INDIVIDUAL ACCOUNTS INFLATION INFORMAL SECTOR INSURANCE COMPANIES INSURANCE COMPANY INTEREST RATE INTEREST RATES INTERNATIONAL BOND MARKETS INVESTMENT OPTIONS INVESTMENT PERFORMANCE INVESTMENT PRODUCTS INVESTMENT RESTRICTIONS INVESTMENT RISK INVESTMENT RISKS INVESTMENT STRATEGY LEGAL FRAMEWORK LIFE ANNUITIES LIFE EXPECTANCY LIFE INSURANCE LONGEVITY RISK MINIMUM INCOME MORAL HAZARD MORTALITY TABLES MORTGAGE MARKETS MUTUAL FUNDS OIL OIL PRICES PAYOUT PAYROLL TAX PENSION COSTS PENSION FUND PENSION FUNDS PENSION LAW PENSION REFORM PENSION SAVINGS PENSION SYSTEM PENSION SYSTEM REFORM PENSION SYSTEMS PENSIONERS PENSIONS POLITICAL ECONOMY PORTFOLIO PORTFOLIO DIVERSIFICATION POSITIVE EFFECTS POVERTY ALLEVIATION PRESENT VALUE PRIVATE PENSION PRUDENTIAL REGULATION RATES OF RETURN REAL WAGES REPLACEMENT RATE REPLACEMENT RATES RETIRED PEOPLE RETIREES RETIREMENT RETIREMENT AGE RETIREMENT AGES RETIREMENT INCOME RISK MANAGEMENT SAFETY SECURITIZATION SOCIAL ASSISTANCE SOCIAL INSURANCE SOCIAL POLICY SOLVENCY REQUIREMENTS STOCK EXCHANGE TAX PURPOSES TAX RATE TRANSITION ECONOMIES WAGE DIFFERENTIALS WAGE GROWTH WAGES WEALTH World Bank Kazakhstan - The New Pensions in Kazakhstan : Challenges in Making the Transition |
| geographic_facet |
Europe and Central Asia Kazakhstan |
| description |
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. |
| format |
Economic & Sector Work :: Policy Note |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Kazakhstan - The New Pensions in Kazakhstan : Challenges in Making the Transition |
| title_short |
Kazakhstan - The New Pensions in Kazakhstan : Challenges in Making the Transition |
| title_full |
Kazakhstan - The New Pensions in Kazakhstan : Challenges in Making the Transition |
| title_fullStr |
Kazakhstan - The New Pensions in Kazakhstan : Challenges in Making the Transition |
| title_full_unstemmed |
Kazakhstan - The New Pensions in Kazakhstan : Challenges in Making the Transition |
| title_sort |
kazakhstan - the new pensions in kazakhstan : challenges in making the transition |
| publisher |
Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2004/05/5520535/kazakhstan-new-pensions-kazakhstan-challenges-making-transition http://hdl.handle.net/10986/14362 |
| _version_ |
1764428861736484864 |