The development of the pension system of Kazakhstan and ways to improve it

Authors

  • D., M. R., N. Turarov , Sultanova Казахский национальный университет имени аль-Фараби, Республика Казахстан, г. Алматы
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Keywords:

pension system, single accumulative pension fund, system dynamics, simulation model, Kazakhstan.

Abstract

The current stage of the Republic of Kazakhstan pension system development is characterized by a number of peculiarities and problems. Today, many alternative ways of development are proposed for the further improvement of pension system. Given the demographic and macroeconomic prospects for the next decades, reliance on a full-capitalization system is unnecessary and problematic, as the experience since 1998 has demonstrated.I propose a method of system dynamics to predict changes in pension savings and pension payments, to analyze their dynamics and for decision-making in the pension policy and to check with the help of System Dynamics is the introduction of the 5% notional component positively affect on the pension system.
The set of simulation models of the pension system helps to investigate the pension system as an integrated dynamic system, study the synergistic effect of the interaction of its elements, influencing factors and control solutions, including elements of social behavior of people as for selecting the method of forming a funded pension.

References

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How to Cite

Turarov , Sultanova, D. . M. R. N. (2016). The development of the pension system of Kazakhstan and ways to improve it. Journal of Economic Research &Amp; Business Administration, 113(1/2). Retrieved from https://be.kaznu.kz/index.php/math/article/view/1619