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Additional measures to be taken for social protection of citizens in Kazakhstan

Kazakhstan Materials 8 June 2013 10:26 (UTC +04:00)

Kazakhstan, Astana, June 7 / Trend D.Mukhtarov /

The president of Kazakhstan instructed to take additional measures for the social protection of citizens, especially of the preretirement age women, the official website of the President said on Friday.

The additional measures were instructed to be taken prior to the entry into force of the new law on the modernization of the pension system.

"To provide a compulsory pension payment at state expense for working women during their stay on leave for the birth and care of children. Total payments to accumulative pension fund must be increased to 10 percent of the former income from payments," Nursultan Nazarbayev said.

Secondly, the president instructed to add five percent of the compulsory contributions from employers to the existing ten percent of the mandatory pension contributions of the citizens.

Thirdly, he noted the need for a phased increase of the rates of compulsory occupational pension contributions for additional five percent.

"This will improve the pension provision of citizens, who are working on special and harmful productions. All these measures will allow to increase the joint responsibility of the state and the employers and the workers themselves for the social protection of our citizens," the head of state said.

The president also instructed the government to develop a complex of measures for further modernization of the pension system till 2030, as well as the mechanisms for effective investment of pension assets into the projects of the most prospective sectors of the economy.

"Pension accumulations should not be a source of profit for pension funds, but a secure basis for a worthy life in the old age of the every citizen of Kazakhstan. I urge upon the parliament to consider my attitude", Nazarbayev said.

He also expressed his confidence that right decisions will be found for this complex issue of pension reform.

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