The deadline for filing documents for reimbursement has been extended to 5 years
The new Tax Code of the Republic of Kazakhstan will enter into force on January 1, 2026. At the same time, amendments have been made to the current Tax Code that affect the interests of UAPF beneficiaries and contributors who belong to socially vulnerable categories and have used lump sum pension benefit payments to improve housing conditions and (or) pay for medical treatment (LSPBP)
What changes have been made?
Individuals belonging to socially vulnerable groups are entitled to apply standard tax deductions to taxable income in the form of lump-sum pension benefit payments. Many of them, when withdrawing LSPBP for housing and (or) medical treatment, paid individual income tax (IIT) immediately upon making the payment. At the same time, from January 1, 2024, standard tax deductions (up to 882 MCI[1]) are applied to the taxable income of such people in the form of LSPBP. This means that recipients belonging to this category can apply with a corresponding application and supporting documents to the UAPF to apply for recalculation and refund of IIT within three years from the date of receiving LSPBP. However, those who withdrew LSPBP in 2021-2022 for various reasons did not have time to do this. Now, in connection with the adoption of amendments and additions to the Tax Code of the Republic of Kazakhstan, from July 15, 2025, the limitation period established for such appeals from individuals has been increased from 3 to 5 years.
Who is eligible for IIT refund?
The list of individuals entitled to a refund of IIT is defined by the current Tax Code. These are individuals with disabilities of the first, second or third groups, one of the parents or guardians of children with disabilities, one of the adoptive parents, foster parents of orphans, veterans of military events and other categories. The full list of persons is in Article 346 of the Tax Code.
Where should you apply?
Beneficiaries who, when determining taxable income under the LSPBP, standard tax deductions, if eligible, were not applied, must urgently contact the nearest UAPF branch office with an application and supporting documents for the application of standard tax deductions to recalculate income and reimburse IIT.
After applying the standard tax deduction, the IIT will be returned to the beneficiary's individual pension savings account if it was withheld. If deferred IIT was chosen, then the obligation to pay it will be removed upon receipt of monthly pension payments.
These changes will be valid until December 31, 2025 (inclusive), since the new Tax Code of the Republic of Kazakhstan comes into force on January 1, 2026.
For reference. According to the current Tax Code, pension payments from UAPF are classified as income subject to individual income tax (IIT) at a rate of 10% in accordance with the Tax Code of the Republic of Kazakhstan. IIT is withheld collectively for all types of pension benefits formed from compulsory pension contributions (CPC), compulsory occupational pension contributions (COPC), and voluntary pension contributions (VPC). The same rules apply to lump-sum pension benefit payments (LSPBP) from UAPF for the purpose of improving housing conditions and/or paying for medical treatment.
Lump sum pension benefit payment (LSPBP) is the amount of pension savings formed by compulsory pension contributions (and until 01.07.2023, by compulsory occupational pension contributions), withdrawn by the contributor (beneficiary) from the UAPF in order to improve housing conditions and (or) pay for medical treatment in the manner established by the Social Code of the Republic of Kazakhstan.
Let us remind you that there are two ways to withhold IIT: immediately upon receipt of the LSPBP and with a delay until retirement. According to the law, the tax agent that calculates the IIT is the UAPF, which can withhold the tax in two ways, depending on the choice of the individual:
o 10% of the LSPBP amount is withheld immediately upon payment.
o 10% of all used pension savings are withheld after the beneficiary retires. In this case, the tax amount is divided into equal parts and deducted from the beneficiary 's monthly pension benefits for a maximum of sixteen years.
How to withhold IIT is decided only by the beneficiary of the LSPBP when submitting an application to the authorized operator.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz)
The volume of pension savings of Kazakhstanis as of 01.04.2025, consisting of contributions received into their accounts and investment income, amounted to KZT22.75 trillion, demonstrating growth over the year by KZT3.86 trillion or 20.5%.
Pension savings due to compulsory pension contributions (CPC) amounted to KZT21.76 trillion as of April 1, 2025, demonstrating growth over 12 months by 19.3%.
The amount of pension savings for compulsory occupational pension contributions (COPC) amounted to KZT653.83 billion, demonstrating growth over 12 months by 9%.
The largest increase over the year (39.5%) was shown by savings for voluntary pension contributions (VPC), which as of April 01, 2025 amounted to KZT8.19 billion.
As of April 01, 2025, the amount of pension savings due to employer’s compulsory pension contributions (ECPC), received from January 1, 2024 to the pension accounts of contributors (beneficiaries), amounted to KZT329.12 billion
Receipts
The increase in savings is provided by incoming flows in the form of pension contributions and investment income. At the same time, funds in the amount of KZT762.22 billion were received in the form of contributions to individual and notional accounts of contributors for 3 months of 2025 (an increase of 22.2% or KZT138.62 billion compared to the previous year's figure).
Since the beginning of the year as of 01.04.2025, 630.91 billion tenge were received to individual pension savings accounts (IPSA) for CPC accounting (compared to the same period last year, the CPC volume increased by 13.3%), COPC - KZT35.31 billion (an increase of 22.4%), VPC - KZT809 million (an increase of 14.8%). Contributions due to ECPC for the first 3 months of 2025 amounted to KZT95.18 billion.
Pension benefits and transfers
Pension benefit payments for all types of contributions and transfers to insurance organizations from the UAPF for 3 months of 2025 amounted to KZT371.44 billion, which exceeds the volume of payments last year by 92.5% or KZT178.47 billion.
Most of the payments are lump sum pension benefit payments (LSPBP) for improving housing conditions and medical treatment - KZT219.10 billion.
Age-related payments as of 01.04.2025 increased by 23.10% over 12 months and amounted to KZT56.40 billion. It is worth noting that the average monthly payment according to the schedule from the UAPF in connection with reaching retirement age was 35,638 tenge.
From the beginning of the year to 01.04.2025, inheritance payments were also made - KZT16.63 billion, payments in connection with leaving for permanent residence outside the Republic of Kazakhstan - KZT8.46 billion, benefit payments to persons with disabilities - KZT801.25 million tenge, funeral payments - KZT2.63 billion. An amount of KZT67.43 billion was transferred to insurance organizations.
IPSA number
The total number of pension accounts in the UAPF as of April 1, 2025 was 17.44 million units (growth over 12 months - 1.66 million units or 10.5%). At the same time, the number of IPSA contributors (beneficiaries) in the UAPF as of April 1, 2025 was 12.54 million units, of which: 11.17 million - for CPC, 729.35 thousand - for COPC, 446.65 thousand - for VPC.
The number of notional pension accounts in the UAPF, which record information on received ECPC in accordance with the legislation of the Republic of Kazakhstan, was 4.91 million units.
All current information on statistical data on pension assets is posted on the website enpf.kz in the “Statistics and analytics” section.
In the village of Karagash, Ayagoz district, a seminar was held with members of 230 polling stations on the topic of "elections of akims of villages, settlements, rural districts and the legal basis for the electoral process of deputies of the Republic of Kazakhstan and the organization of the work of election commissions", members of the district election commission took part in the meeting.
During the seminar, it was noted that the Republic of Kazakhstan must comply with the legality of the elections, keep the focus on fair, transparent elections, prevent violations of the law and comply with security measures, polling stations 100% provision of voters with call-up sheets, noted the secretary of the district territorial election commission K. Abdreev.
Deputy Chairman of the election commission A. Atabekova dwelt on the Law of the Republic of Kazakhstan On Elections and focused on ensuring the implementation of all instructions and tasks specified in the law, and creating conditions for voting for citizens with disabilities and persons with disabilities.
During the seminar, members of the polling station expressed their thoughts and talked about the election process.
The amount of pension benefits from the UAPF directly depends on the amount of savings that are formed thanks to regular and full contributions. The amount of contributions received monthly into accounts increases due to investment income, and also serves as confirmation of work experience since 1998, which is necessary for calculating both the total length of participation in the pension system and the amount of the basic pension benefit at the expense of budgetary funds.
UAPF reminds of the importance of monitoring the correctness of calculations, especially if contributions are withheld from wages. All these measures will help ensure that citizens' savings in the UAPF are in full order and will provide a decent pension in the future.
Today, every person with an account in UAPF has access to a personal account on the official website enpf.kz or in the UAPF mobile application. This service allows you to conveniently and quickly track the status of your savings and receive up-to-date information on all transactions on your accounts. The registration procedure in your personal account is simple and accessible even for those who are encountering such services for the first time.
Receiving information about the status of your accounts through your personal account is the most convenient, reliable and prompt way to control your pension savings. The service operates online around the clock (24/7), which allows you to receive up-to-date information at any time and from anywhere in the world.
In addition, information on the status of accounts is available not only through the personal account on the UAPF website, but also through the egov.kz portal or the e-government mobile application. This provides additional convenience for users who prefer to interact with government services through single platforms.
Statistics: since the beginning of 2025, as of March 1, 5.4 million statements from UAPF accounts were issued, of which more than 4.4 million (or 82%) were in electronic form. This demonstrates the growing popularity of digital services and the high level of trust of citizens in online forms of obtaining information.
It is important to note that the transition to electronic platforms significantly reduces the likelihood of errors in obtaining information and simplifies interaction with UAPF. Thanks to this, contributors can take timely measures in the event of problems with the transfer of contributions and questions arising. This will also allow you to most accurately present an objective picture of personal savings and take action in advance to increase your pension capital.
The control exercised by contributors today will allow them to be confident in their future!
The State Institution "Department of Internal Policy, Culture, Language Development and Sports of the Ayagoz District of the Abay Region" announces a competition for the vacant position of Director of the State Municipal State Enterprise "House of Culture "Kozy Korpesh - Bayan Sulu" of the Department of Internal Policy, Culture, Language Development and Sports of the Ayagoz District of the Abay Region".
The State Municipal State Enterprise "House of Culture "Kozy Korpesh - Bayan Sulu" of the Department of Internal Policy, Culture, Language Development and Sports of the Ayagoz District of the Abay Region" is located at the address: 070200, Republic of Kazakhstan, Abay region, Ayagoz district, Ayagoz city, Abay Boulevard Street, 12, tel. 8 (72237) 30345.
The main activities of the state enterprise: conducting cultural and mass, theatrical and spectacular, entertaining and educational, leisure, work with the population;
Requirements for competition participants: higher (or postgraduate) education in the following areas: pedagogical sciences (music education) and/or arts and humanities and/or social sciences, journalism and information (cultural studies, librarianship) and/or services (tourism, cultural and leisure work) and at least 5 years of experience in managerial positions in the specialty.
Must know:
The Constitution, the Budget Code, the Labor Code, the laws of the Republic of Kazakhstan "On Culture", "On Combating Corruption", "On Copyright and Related Rights", "On State Property", "On Public Procurement".
Job responsibilities:
Director of the House of Culture: Carries out general management of the administrative, economic and economic activities of the House of Culture; develops and monitors the implementation of the main directions of cultural, educational and leisure activities among the population; draws up plans for the creative, production and financial and economic activities of the House of Culture; organizes the activities of the cultural and leisure organization, the work of all personnel, namely: implementation of creative, methodological, cultural and educational work, work to combat corruption; ensures the preparation and holding of reviews and festivals, folk art competitions, seminars for leaders of amateur art activities, exhibitions and other forms of creative activity; holding mass theatrical holidays and performances, folk festivals, rituals in accordance with local customs and traditions; organizing leisure for various groups of the population, including holding evenings of relaxation and dancing, discos, carnivals, children's parties, game and cultural and entertainment programs; provision of paid social and cultural services to the population; provision of stage venues for touring and visiting events of theaters, concert organizations, for the implementation of joint projects and programs in accordance with concluded agreements; holding theme evenings, creative meetings; exercises control over the activities of amateur art groups; attracts qualified specialists to develop teaching aids, scripts, create a repertoire, review these materials and provide creative assistance to amateur art groups. Ensures the preparation and submission of reports and information to the Department of Culture, Language Development and Archives of the Abay District and the State Institution "Department of Internal Policy, Culture, Language Development and Sports of the Ayagoz District of the Abay Region". Provides the House of Culture with qualified personnel, namely: concludes employment agreements (contracts) with creative and technical personnel; creates conditions for advanced training, encourages and stimulates the creative initiative of employees; monitors compliance with production and labor discipline by employees of the organization. Maintains the property belonging to the institution in good condition and safe. Within the powers granted to him, resolves financial and material issues of the House of Culture, namely: ensures that the institution is equipped with the necessary technological, engineering equipment, inventory, materials and exercises control over their use; organizes timely major and current repairs of buildings, premises of the House of Culture and equipment. Provides reception to individuals and representatives of legal entities on personal matters.
To participate in the Competition, within the timeframes established by the commission, a candidate for the position of manager must provide:
application for participation in the competition;
resume in the state and Russian languages;
autobiography, presented in any form;
copies of educational documents;
a copy of the work record book (if any) or employment contract, or extracts from orders on admission and termination of an employment contract from the last place of work;
a health certificate in the established form approved by the order of the Acting Minister of Health of the Republic of Kazakhstan dated November 23, 2010 No. 907 "On approval of forms of primary medical documentation of healthcare organizations" (registered in the Register of state registration of regulatory legal acts No. 6697).
The participant of the competition may provide additional information regarding his education, work experience, level of professional training (copies of documents on advanced training, assignment of academic degrees and titles, scientific publications, as well as recommendations from the management of the previous place of work, etc.).
The acceptance of documents for persons applying for participation in the competition ends after fifteen calendar days from the date of the announcement of the competition in the media at the address: 070200, Ayagoz, Bulvar-Abaya Street, 12 (2nd floor), from 9.00 to 18.30.
Information phone number: 8/72237/30345
Candidates admitted to participate in the competition are interviewed at the Department of Internal Policy, Culture, Language Development and Sports of the Ayagoz District of the Abay Region at the address: Ayagoz, Bulvar-Abaya Street, 12.
State Institution "Department of Internal Policy, Culture,
Language Development and Sports of the Ayagoz District of the Abay Region"
In connection with the approaching spring-summer fire hazard period, the probability of ignition of dry grassy plants increases. Most fires are caused by uncontrolled burning of dry grass.
In most cases, fires are extinguished not by specialists, but by the population without observing fire safety rules, which require material costs, which leads to the spread of fires to populated areas, economic facilities, forest lands. During a fire, people die and lose their homes, natural resources and material values are senselessly lost, smoke appears, suppressing cities and villages, which is impossible to get rid of.
Such misfortunes are caused by the wrong opinion that it is useful to burn dry plants at the dacha - they accelerate the growth of young grass. Few people believe that with the arrival of spring for millions of years, green grasses grew beautifully, without burning them by human hands. On the contrary, we cause significant damage to nature by burning dry grass. The natural process of humus formation is disrupted, thereby reducing soil fertility. After fires, grasses survive, and the first to sprout are the most common grasses, a variety of weeds. During a fire, insects are destroyed, including plant pollinators, nesting sites and mats of birds living on the ground are burned. When grass is burned, beneficial soil microorganisms die, including those that help plants resist diseases. In a strong grass fire, almost all mammals living in the grass or on the soil surface die from the fire or suffocate from the smoke.
Another reason for the mass punishments in our republic is the confidence not only in their usefulness, but also in their safety. According to forecasts, a runaway land fire that penetrates the forest territory in early spring will pass without damage to the forest fund. However, it should be noted that the fire can hide in stumps and dead wood and cause new forest fires in the summer, when the temperature rises. At the same time, I draw the attention of residents of the region to the uncontrolled burning of dry grass, the burning can spread both to forest protection plantations and to residential and commercial buildings, which can cause significant material damage. as harm to the health of citizens. Administrative liability is provided for these violations.
So be vigilant, do not let last year's garbage and dry grass catch fire, it will not affect anyone, everyone can become a victim of their own negligence.
The Ayagoz District Emergency Situations Department warns!!!
For the second year, the program National Fund for Children has been implemented, according to which 50% of the foreign currency part of the investment income of the National Fund of the Republic of Kazakhstan is annually distributed among children-citizens of Kazakhstan who were born in 2006 and later. Young Kazakhstanis born in 2006-2007, who have reached 18 years of age in 2024-2025, are transferred target savings (TS) to target savings accounts (TSA) opened in the UAPF. They can use these funds to improve their housing conditions and (or) pay for education. In connection with the increasing number of requests to the UAPF from the legal representatives of program participants regarding the lack of information on the e-government Internet resources (website and in the eGov Mobile mobile application) about the price tags accrued to their children born in 2006 and 2007, the UAPF explains that citizens who are adults or will reach 18 years of age in 2025 must independently obtain information about their price tags through their personal account on Internet resources UAPF or e-government. Thus, the UAPF, in accordance with Kazakh legislation, guarantees the secrecy of the TS of their recipients, including information about balances and the movement of money on their TSA.
The procedure for paying TS and using them to improve housing conditions and / or pay for education is determined by:
- The Rules for the formation and accounting of target requirements, target savings and payments of target savings, as well as the accrual of target requirements, approved by the Decree of the Government of the Republic of Kazakhstan dated January 18, 2024 No. 16;
- the Rules for the use of payments of target savings from a single accumulative pension fund for the purpose of improving housing conditions in accordance with the legislation of the Republic of Kazakhstan, approved by order of the Minister of Industry and Construction of the Republic of Kazakhstan dated February 26, 2024 No. 76;
- the Rules for the use of payments of target savings from a single accumulative pension fund for the purpose of paying for education in accordance with the legislation of the Republic of Kazakhstan, approved by a joint order of the Minister of Science and Higher Education of the Republic of Kazakhstan dated February 7, 2024 No. 51 and the Minister of Education of the Republic of Kazakhstan dated February 12, 2024.
The step-by-step algorithm for using TS can be presented as follows:
For your information, we inform you that for 2023, all TS recipients were credited with 100.52 US dollars, for 2024 - 129.38 US dollars. Children who received their first funds from the National Fund in 2023, with the exception of persons born in 2006, were credited with investment income in the amount of 3.04 US dollars this year. As a result, the target savings of a child born in 2006 are 100.52 US dollars, and those born in 2007 - 232.94 US dollars.
Let us remind you that TS are transferred in US dollars and stored on TSA in UAPF for 10 years. If during this period the citizen does not use these funds, they are transferred to his individual pension account for recording voluntary pension contributions to UAPF, which is automatically opened in his name, in tenge at the official rate of the National Bank of the Republic of Kazakhstan on the date of transfer. Receipt of savings from a voluntary pension account will be carried out in accordance with the legislation of the Republic of Kazakhstan.
You can familiarize yourself with the terms of the program, get instructions, answers to your questions on the website kids.enpf.kz and on the БЖЗҚ ЕНПФ YouTube channel. We also note that a video instruction on the implementation of the "National Fund for Children" program, the algorithm of actions before and after the child reaches adulthood is posted on the БЖЗҚ ЕНПФ YouTube channel at the link: https://www.youtube.com/watch?v=HHQNAxfskX8.
REFERENCE:
Detailed information on payments of target savings for the purpose of improving housing conditions and (or) paying for education by authorized operators, regions and sub-goals can be found on the website enpf.kz
As of March 1, 2025, pension savings of Kazakhstanis exceeded KZT22.68 trillion. Over the past 12 months, they have grown by about KZT4.18 trillion (or 22.6%).
Pension savings formed through compulsory pension contributions (CPC) amounted to more than KZT21.71 trillion as of March 1, 2025, having increased by 21.4% over 12 months. The amount of pension savings through compulsory occupational pension contributions (COPC) is KZT650.69 billion (growth over 12 months is 10.3%). The maximum increase over the past 12 months (42.8%) was shown by savings on voluntary pension contributions (VPC), which amounted to more than KZT8.14 billion.
The volume of employer’s compulsory pension contributions (ECPC) received from January 1, 2024 to the pension accounts of contributors (beneficiaries) amounted to more than KZT310.13 billion.
Incoming
Pension contributions to contributors' accounts for the first 2 months of 2025 amounted to more than KZT497.33 billion (an increase of 19.9% or KZT82.46 billion compared to the previous year's figure).
About 416.04 billion tenge were received to individual pension savings accounts (IPSA) for CPC accounting since the beginning of the year as of 01.03.2025 (compared to the same period last year, the CPC volume increased by 11%), COPC - more than KZT22.41 billion (an increase of 10.8%), VPC - KZT600.34 million (an increase of 17.2%). The volume of contributions due to ECPC for the first 2 months of 2025 amounted to about KZT58.28 billion.
Benefits and transfers
Pension benefit payments for all types of contributions and transfers to insurance organizations from the UAPF for January-February 2025 amounted to more than KZT260.32 billion, which is KZT129.49 billion or 99% more than the volume of benefits for the same period last year.
About KZT157.89 billion are lump sum pension benefit payments (LSPBP) for improving housing conditions and medical treatment.
Benefits in connection with reaching retirement age amounted to more than KZT36.98 billion, which is 18.8% higher than last year. The amount of the average monthly pension benefit from the UAPF in connection with reaching retirement age was 35,616 tenge.
During this period, inheritance payments were also made - more than KZT11.93 billion, payments in connection with leaving for permanent residence outside the Republic of Kazakhstan - about KZT5.99 billion, benefits to persons with disabilities - more than KZT551.18 million, funeral payments - about KZT1.85 billion. An amount of about KZT45.13 billion was transferred to insurance organizations.
Number of IPSAs
The total number of pension accounts in the UAPF as of March 1, 2025 was more than 17.36 million units. At the same time, the number of IPSA of contributors (beneficiaries) in the UAPF as of March 1, 2025 was about 12.53 million units, of which: more than 11.16 million - for CPC, 724.04 thousand - for COPC, 444.64 thousand - for VPC.
The number of notional pension accounts in the UAPF, which record information on received ECPC in accordance with the legislation of the Republic of Kazakhstan, was more than 4.83 million units.
All up-to-date information on statistical data on pension assets, including by regions of the republic, is posted on the website enpf.kz in the section “Indicators”.
Leading insurance company Allianz[1] has released a new edition of the Global Pension Report, containing an analysis of the pension systems of 71 countries using its own Allianz Pension Index (Index), according to which Kazakhstan took 26th position, ahead of Austria, Spain, Chile, Singapore, Hong Kong, China and many other countries (in 2023, Kazakhstan took 34th place out of 75 countries in the Index).
The Allianz Pension Index (API) is designed to comprehensively assess the sustainability and adequacy of pension systems. It consists of three sub-indices and takes into account 40 parameters assessed on a scale from 1 to 7, where 1 means the best result. The API index of the Kazakhstan pension system was 3.5 points.
According to the first sub-index, which assesses the pace of demographic change, public debt and general standard of living, Kazakhstan's score was 4.1 points (in 2023 - 3.5 points). This indicator is the highest in the UAE (2.3 points), Australia (2.6 points) and Israel (2.9 points).
According to the second sub-index, which assesses the sustainability of the pension system, Kazakhstan scored 3.6 points (in 2023 - 3.6 points). The best results in this sub-index are demonstrated by Indonesia, Denmark and Bulgaria (with scores from 2.1 to 2.3), mainly due to the increase in the retirement age and the introduction of funded components in their pension systems.
According to the third sub-index, which assesses the extent to which the pension system can provide an adequate (sufficient) standard of living in old age, the Kazakh pension system scored 3.2 points (in 2023 - 3.3 points). Denmark, the Netherlands and New Zealand are the leaders in this rating (with scores from 1.7 to 2.0), have strong funded components of the second and third pillars of the pension system.
According to the Report, the average score for all pension systems analyzed was 3.7 points. The country with the best pension system according to Allianz, as in 2023, was Denmark with a score of 2.3 points, followed by the Netherlands and Sweden (2.6 points), then Japan, which displaced New Zealand and took fourth place in the index, scoring 2.7 points, New Zealand scored 2.8 points, Israel - 3 points, Australia, Great Britain, Norway and the USA - 3.2 points each.
The lowest positions in the ranking are occupied by the pension systems of Morocco, India, Laos, Malaysia, Sri Lanka (from 4.5 to 5 points). In these countries, the most acute problems are low coverage of the population by the pension system, which is caused by the prevalence of informal employment.
The report focuses on population ageing, noting that the latest UN projections show that the number of people aged 65 and over will nearly double over the next 25 years, from 857 million today to 1,578 million in 2050. Falling fertility rates are slowing the growth of the working-age population, and by mid-century there will be 26 people over 65 for every 100 people aged 15 to 64, compared with 16 today. Across the 71 countries analysed, representing 75% of the world’s population, fertility rates range from 0.7 children per woman in Hong Kong to 4.4 in Nigeria. These countries also represent the high and low ends of life expectancy, which averages 85.6 years in Hong Kong and 54.6 years in Nigeria. Dependency ratios (DRRs), which measure the number of people of retirement age per 100 people of working age, vary greatly across countries. In most industrialized countries, the overall DDR is a cause for concern, while in many developing countries, the rapid rate of ageing is a cause for concern. The countries with the fastest ageing rates are Hong Kong, South Korea, Taiwan and Saudi Arabia. However, in 2050, the top 20 “oldest” countries in the world will mostly be EU member states: Italy, Spain, Greece and Portugal will have DDRs above 60%. Nigeria, Kenya and Pakistan will have the youngest populations due to still high birth rates and relatively low life expectancy.
Allianz experts emphasize that one way to mitigate the impact of demographic changes on the pension system is to supplement the state pension system with a funded element.
The Report also notes that the main purpose of a pension system is to protect against the risks of longevity and poverty in old age, and to ensure a decent standard of living in old age. Therefore, when reforming or creating pension systems, policymakers should consider not only their long-term sustainability, but also their adequacy. If public pension systems are unable to provide a decent standard of living in old age, then additional tax-advantaged or state-subsidized pension products, occupational and private pension plans should be available.
Countries that need less reform in terms of the adequacy of the pension system are Denmark, the Netherlands and New Zealand, where additional occupational savings plans and private pension provision are already a core element of the pension systems.
The adequacy of pension systems is also determined by the income replacement ratio (IRR). The average gross IRR in public pension systems of the analyzed countries is 53%, with rates ranging from 8% in South Africa to 88% in Brazil. The IRR in Kazakhstan by the end of 2024 was 41%. However, the International Labor Organization (ILO) notes that due to pension reforms, the level of pension payments in some European countries threatens to fall below the recommended minimum level of 40-45% of earnings after 30 years of contributions, which confirms the urgent need to strengthen additional funded tiers of pension systems.
The Allianz Report asks whether public pension systems are able to cope with demographic challenges in the context of declining birth rates and increasing life expectancy. A comprehensive analysis of pension systems in different countries concludes that systems financed on a pay-as-you-go basis, in which contributions from the working population are used to finance the pensions of current pensioners, cannot guarantee their long-term financial sustainability and a decent standard of living in old age with adequate pension benefits.
The challenge is to find a balance between ensuring the sustainability and adequacy of pension systems and creating the necessary conditions for additional funding of pensions through the funded component. In addition, allowing older workers to continue working is also important to keep public pension systems in balance.
The report therefore concludes that the “ideal” pension system is the right balance between a public (pay-as-you-go) pension system and a funded pension system. Countries that combine the two are best prepared to cope with demographic change and ensure the sustainability of the pension system and the adequacy of pension benefits in the long term. However, well-functioning labour markets are a prerequisite for the successful implementation of any pension reform, which means increasing the share of formal employment in emerging markets and adapting labour markets to the needs of an ageing workforce in industrialized countries.
The Allianz Global Pension Report “Time to Move from Words to Action” fact sheet and the Allianz report on the results of the analysis of the world's pension systems in 2025 are available here:
https://www.enpf.kz/ru/indicators/obzory-mezhdunarodnykh-ekspertov/mezhdunarodnye-reitingi
[1] Allianz Group is a world leader among insurance companies and asset managers, serving 125 million private and corporate clients in almost 70 countries. As part of its activities, Allianz provides a wide range of personal and corporate insurance services, including property insurance, life and health insurance, assistance services, credit insurance and international business insurance. In addition, the company is actively engaged in conducting research in various areas of the economy, including publishing reports on the analysis of pension systems around the world.
The enterprise operates in the field of water supply and sanitation of the population and economic entities in the field of life support of settlements, in the field of maintenance of state highways, in the field of education and the use of municipal waste, waste landfills.
Functional responsibilities: general management of production, economic, financial and economic activities of the enterprise; organization of relationships between all structural divisions, services, departments; determination of prospects, strategy and priorities of technical, economic and social development of the enterprise; creation of conditions for the introduction of new equipment and technology, progressive forms of management and labor organization; organization of the enterprise's work determines the prospects, strategy and priorities of technical, economic and social development; ensures the fulfillment by the enterprise of obligations to consumers of services, suppliers, customers and creditors, including the bank, as well as the fulfillment of indicators of economic and labor contracts (agreements), indicative plans and business plans; taking measures to ensure healthy and safe working conditions at the enterprise; control over compliance with the law in the activities of all services; control over compliance with the law in the activities of all services; protection of property interests of enterprises in court, arbitration, government agencies; creation and provision of an accounting system and organization of bookkeeping.
Qualification requirements: higher professional education in technical, legal or engineering and economics, work experience as a manager in accordance with the industry of the enterprise for at least 5 years.
Requirements for competition participants: Constitution of the Republic of Kazakhstan, Civil Code of the Republic of Kazakhstan (general and main sections), Labor Code of the Republic of Kazakhstan, Law of the Republic of Kazakhstan dated November 18, 2015 "On Combating Corruption", Law of the Republic of Kazakhstan dated March 1, 2011 No. 413-IV "On State Property", Law of the Republic of Kazakhstan dated March 15, 1999 "On State Secrets", knowledge of regulatory legal acts of the Republic of Kazakhstan governing relations in the sphere of activity of a state enterprise.
Applicants send the following documents to the HR department of the State Institution "Department of Housing and Public Utilities, Passenger Transport, Highways and Housing Inspection of the Ayagoz District": application for participation in the competition; resume in the state language; autobiography in any form; copies of educational documents; a work record book certified in the established manner (if any) or a work record book or copies of orders on hiring from the last place of work and termination of the employment contract; it is necessary to provide a health certificate in the established form.
Documents required for participation in the competition must be submitted within fifteen calendar days from the date of publication of the announcement. Venue of the competition - State Institution "Department of Housing and Public Utilities, Passenger Transport, Highways and Housing Inspection of the Ayagoz District".
Information at the address: Abay Region, Ayagoz City, Momyshuly Street, 62, phone: 3-22-10, 3-29-70