Employee Benefits in Kazakhstan, 2020 Update
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The Kazakhstanian pension system has been facing much turbulence, regardless of the increase in the number of pensioners every year. The Kazakhstanian pension system includes everyone from means-tested to private employees. Kazakhstan’s social security system is based on the principle of defined-benefits and is generally managed by the state government. The social security system covers a limited number of benefits and provides them based on the insured’s contribution period. Kazakhstan has three pillar pension system. First pillar is made for means-tested individuals, second pillar has given the liberty of choosing among mandatory DB and DC plans to the individuals while the third pillar involves voluntary DC pension schemes.
The report provides in-depth industry analysis, information and insights of the employee benefits in Kazakhstan, including: overview of the state and compulsory benefits in Kazakhstan, detailed information about the private benefits in Kazakhstan, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Kazakhstan.
Key Highlights
– The Kazakhstan Agency for Financial Market and Financial Organizations, the Ministry of Labor and Social Protection (MOLSP) and the Ministry of Health are the most important organizations responsible for the management and supervision of social security benefits.
– A person’s national insurance contribution is determined based on their income.
– An insured person who is unemployed or unable to work and whose benefits have been exhausted is entitled to credited contribution.
– In Kazakhstan, employers provide voluntary retirement benefits to their employees through deferred annuity plans.
Scope
This report provides a detailed analysis of employee benefits in Kazakhstan –
– It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
– It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, unemployment, leave and private benefits
– It highlights the economic and regulatory situations relating to employee benefits in Kazakhstan
Reasons to Buy
– Make strategic decisions using in-depth information related to employee benefits in Kazakhstan.
– Assess Kazakhstan’s employee benefits market, including state and compulsory benefits and private benefits.
– Gain insights into the key employee benefit schemes offered by private employers in Kazakhstan.
– Gain insights into key organizations governing Kazakhstan’s employee benefits, and their impact on companies.
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