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Employee Benefits in Kazakhstan

  • February 2015
  • 50 pages
  • Timetric
Report ID: 2693674

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Synopsis
Kazakhstan’s social security system comprises the social insurance system and the 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 markets in Kazakhstan are undergoing transformation, and are expected to improve in the near future as the government is aiming to diversify its economy.

Summary
The report provides in-depth industry analysis, information and insights into employee benefits in Kazakhstan, including:

- An overview of state and compulsory benefits in Kazakhstan

- Detailed information about private benefits in Kazakhstan

- Insights into various central institutions responsible for the administration of the different branches of social security

- The regulatory framework of employee benefits in Kazakhstan

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 benefits, long-term disability benefits, short-term sickness benefits, medical benefits, workmen’s compensation, maternity and paternity benefits, family benefits, leaves and public holidays, unemployment 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

Key Highlights
- The Kazakhstani social security system covers a large proportion of the population, and offers a wide range of social benefits and allowances to its people. The social assistance system covers Kazakhstani residents whose monthly income is below the poverty line, and is fully financed by the state

- Private benefits are usually paid in the form of annuities. Individuals who don’t have sufficient funds to receive pensions will be paid benefits in the form of lump sum amount or periodic payments for up to five years.

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