Abstract:

The article is devoted to the research of pension provision in the Republic of Kazakhstan. At all times and in all conditions, one of the most basic problems of organizing a person's life has been and remains financial stability at elderly age. Regarding the OECD the elderly is specified like people aged 65 and above. Dependency rate of the old people can be calculated as the ratio between the elderly and the people of working age (15-64 years). The assurance of guaranteed income after going to pension can be defined as the most important issue in the social sphere.

Some segments of the population do not even manage to have such incomes during their active life that would allow them to save and guarantee themselves acceptable income for a comfortable existence at the old age. The consequence of the existence of a pension system in the state is the need for pension provision and the possibility of its provision, i.e. the availability of financial resources.

Under the current conditions of payments and deduction rates, none of the existing pension systems in the world is truly balanced.

In this regard, countries, performing a socio-economic function – that is, reducing the level of poverty in the country, should take steps to prevent poverty among the elderly.