Employee Benefits in Kazakhstan, 2021 Update - Key Regulations, Statutory Public and Private Benefits, and Industry Analysis
Summary Kazakhstan’s social security system consists of the social insurance system and social assistance system.The social security system covers a large proportion of the population and offers a wide range of social benefits and allowances to its people.
The Kazakhstan Agency for Financial Market and Financial Organizations, the Ministry of Labor and Social Protection (MOLSP) and the Ministry of Health are the most important organizations responsible for the management and supervision of social security benefits. Both the state and private benefits in Kazakhstan are undergoing transformation and are expected to improve soon as the government is aiming to diversify its economy.
The report provides in-depth industry analysis, information, and insights of the employee benefits in Kazakhstan, including an overview of the state and compulsory benefits in Kazakhstan, detailed information about the private benefits in Kazakhstan, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Kazakhstan.
Key Highlights - State benefits are granted by the government of a particular country to all its employed, self-employed, and unemployed residents, as well as their dependents
- Compulsory benefits are provided to employees by their employers and are mandated by law
-The retirement (old age) benefits are granted under mandatory individual accounts, solidarity pension, and state basic pension schemes
- The Kazakhstan retirement benefits system comprises three pillars
- Pillar III is the voluntary pension scheme based on DC schemes. DB supplementary private pension systems are not prevalent in the country
Scope This report provides a detailed analysis of employee benefits in Kazakhstan -
- It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
- It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen’s compensation insurance, maternity and paternity benefits, family benefits, unemployment, long-term care benefits, leave and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Kazakhstan
Reasons to Buy - Make strategic decisions using in-depth information related to employee benefits in Kazakhstan
- Assess Kazakhstan’s employee benefits market, including state and compulsory benefits and private benefits
- Gain insights into the key employee benefit schemes offered by private employers in Kazakhstan
- Gain insights into key organizations governing Kazakhstan’s employee benefits, and their impact on companies
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