Profitability of pension assets as a basis for pension provision for the elderly

Authors

  • Zharasbayeva A.Zh. 2nd year doctoral student, Karaganda University named after E.A. Buketov
  • Assanova M.K. Associate Professor, Karaganda University named after E.A. Buketov
  • Makalakova B.M. lecturer, Karaganda University named after E.A. Buketov

Abstract

In June 2013, the Law "On pension provision of the Republic of Kazakhstan" was adopted. In addition to a number of reforms, this Law provided for the creation of a Unified Accumulative Pension Fund based on economic and social needs.

In accordance with Article 5 of the Law, upon reaching the retirement age in Kazakhstan, a state guarantee system operates for mandatory types of pension contributions in the amount of the amount actually accumulated in the personal pension account, taking into account the inflation rate [1].

In other words, when a citizen retires, the funds accumulated in a personal pension account are calculated in relation to the inflation rate accumulated over the entire working period in the accumulative pension system.

Published

2024-09-09

How to Cite

Zharasbayeva A.Zh., Assanova M.K., & Makalakova B.M. (2024). Profitability of pension assets as a basis for pension provision for the elderly. Foundations and Trends in Research, (7). Retrieved from https://ojs.publisher.agency/index.php/FTR/article/view/4188