In 2023, the 25th anniversary of the founding of the accumulative pension system of Kazakhstan will be celebrated.
Summing up the results of the 25th anniversary, we are launching a series of interviews with the founders, developers, experts of the national accumulative pension system, who were at the origins of its creation and took an active part in its development, on the BZHZK EPPF YouTube channel.
From 08/21/2023, watch the first part of the interview with Grigory Alexandrovich Marchenko, one of the architects of the accumulative pension system of Kazakhstan.
In an exclusive interview with the YouTube channel BZHZK EPPF, Grigory Alexandrovich shared that in the distant 1996-1997, during the bankruptcy of the solidarity system, when delays in the payment of pensions were up to six months, and the total debt on pension payments was about $ 0.5 billion, there was a need to reform the pension system with a new approach, which implied the transition from the use of the principle of generational solidarity to the personal responsibility of Kazakhstanis for their material security in retirement age.
By the time of the reform, a lot of preparatory work had been done, various models of pension systems of many countries were studied, the positive experience of which was taken into account in the formation of Kazakhstan's multi-level pension system, including a basic and solidary pension that people receive from the state, as well as an accumulative component formed by individual mandatory and voluntary contributions of depositors.
Watch the full interview of Grigory Alexandrovich Marchenko at the link:
https://www.youtube.com/watch?v=GkSqV7xsX6w
Subscribe to the YouTube channel BZHZK ENPF for interesting and useful information about the funded pension system.