Аңдатпа
This study examines the current state of Kazakhstan’s public pension system, comparing its performance and asset structure to OECD countries. It highlights structural and regulatory issues within the national pension market that hinder adequate retirement savings for the population. A key concern is the low real rate of return by the national pension fund, potentially jeopardizing its ability to meet future retirement needs amidst rising inflation. The study analyzes the Canadian pension system as a model, showcasing a three-layer structure that fosters diverse sources of pension benefits, ensuring sustainable income for retirees. It recommends considering group (employer-based) and private (individual) registered pension programs, common in developed countries, to generate additional pension income. Supportive legal and tax frameworks are crucial to encourage participation in these programs. Drawing on Canadian and OECD experiences, the study offers suggestions for reconfiguring Kazakhstan’s pension system to enhance its performance and sustainability, ultimately leading to higher pension payouts for future retirees.