哈萨克斯坦养老金制度改革回顾与展望

1998年哈萨克斯坦发起了养老金制度改革，其主要特点是以雇员供款为基础，由国家委托私人管理个人养老金的资本帐户。哈萨克斯坦的养老金体系由积累制养老金和现收现付制养老金构成，前者面向中青年，后者针对中老年。到2019年的过渡期，一部分人养老金收入主要由国家养老金组成，一部分人的养老金构成部分中，国家养老金所占比例将会下降。他们的养老金收入主要是由养老金的积累部分和基本养老金构成，二者比例大致相同。男性与女性在转型期养老金收入上有一定的差异。

Pension Reforms in Kazakhstan

Ten year ago, Kazakhstan initiated a pension system reform, the main feature of which was the creation of state- mandated, privately managed individual pension capitalization accounts based on eontributions of employees. After a decade of experience, there is a reassessment of the extent to which the pension system has achieved its objectives, particularly with respect to coverage and adequacy. This paper focuses on the structure of the proposed new pension system and risk-sharing implications of different pillars of the system, the accessibility of the existing pension system in terms of coverage, particularly for women and self-employed persons, the impact of reform on transaction costs; investment policies and management and their implications for rates of return and financial market development.