Pension provision as a tool for reduction of informal unemployment in the context of social insurance

Izekenova A.K.

  • А. К. Изекенова

Abstract

Social security tools are increasingly considered to be a highly effectivemechanism for reduction of informal employment since receiving benefitsin pension provision is only possible through the legal employment.In this regard the determination of pension provision is necessary for thefurther development of the pension sphere. Nowadays the various pensionsystems in the world are based on a combination of three main institutionsof pension provision, such as social assistance, compulsory pensioninsurance and private voluntary insurance. These institutions consideredas a tool for poverty reduction in the developed countries and as insuranceagainst risks in order to achieve the minimum required level of lifeexpectancy at retirement age through collective forms of wage earners and“self-employed” people insurance during employment. Institute of fundsaccumulation on a voluntary basis supports life wealth at retirement andit is one of the main mechanisms of self-protection of workers and smallbusinesses in some countries. The article reveals the basic pension institutionsand pension models in different countries.Key words: Pension provision, social insurance, informal employment,pension system, unemployment, employment.
Published
2018-11-05
How to Cite
ИЗЕКЕНОВА, А. К.. Pension provision as a tool for reduction of informal unemployment in the context of social insurance. The Journal of Economic Research & Business Administration, [S.l.], v. 119, n. 1, p. 82-91, nov. 2018. ISSN 1563-0358. Available at: <http://be.kaznu.kz/index.php/math/article/view/2259>. Date accessed: 22 nov. 2018.