ASTANA – Kazakhstan climbed to 26th place among 71 pension systems in the Allianz Pension Index (API), surpassing Austria, Spain, Chile, Singapore, Hong Kong, China, and other countries, the Unified Accumulative Pension Fund reported on March 18.
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In 2023, Kazakhstan ranked 34th among 75 countries. The API evaluates pension systems based on sustainability and adequacy, using 40 parameters scored from 1 to 7, with 1 meaning the best. Kazakhstan’s overall score was 3.5.
The country scored 4.1 points for demographic change, public debt, and general standard of living, 3.6 for pension system sustainability, and 3.2 for providing an adequate standard of living in old age.
The global average score was 3.7. Denmark led the rankings with 2.3 points, followed by the Netherlands and Sweden (2.6). The lowest-ranked systems were in Morocco, India, Laos, Malaysia, and Sri Lanka (4.5-5 points), mainly due to the low population coverage by the pension system, which is caused by the prevalence of informal employment.
The report focuses on population aging, noting that the latest UN projections show that the number of people aged 65 and over is expected to nearly double by 2050, from 857 million to 1.58 billion.
