Экономические науки/3. Финансовые отношения

Master student Dauylbayeva A.N.

Karaganda Economic University of Kazpotrebsoyuz, Kazakhstan Development of the pension system of Kazakhstan and way of her perfection

In the last decades questions of perfection of the pensionsystem are actual in developing and developed countries inconnection with her financial crises, entailing destabilizationin the financial systems. The negative consequences ofeconomic crisis affected all world systems of the pensionsystem, including on the story pension system of Kazakhstan.

Changes what be going on in the pension systems offoreign countries flow unevenly and not synchronously, thatis the appropriate phenomenon. This problem such largestinternational organizations as International bureau of labour,International association of public welfare, Organization ofeconomic collaboration and development and World bankengage in. In every country reformation of the pensionsystem is conducted in its own way taking into accountdemographic, cultural, social, political, financial features andpossibilities. However economic crisis 2008 year appearedthe heaviest for the last 75,that became a large geopolitical defeat the USA,

Europe andJapan and affected on the decline of the labour productivityin the process of aging of population as a result of increaseof mean time lives that were reasons of adjustment in thepension systems as compared to the cutback of economic activity of 1981-1982.

Today for many pension systems adeficit is characteristic on running payments and, on somethe estimation, the accumulating debt of the systems of thepension system makes in separate countries from 100 to250%. Some pension systems become insolvent [1, p.80].

Hard requirements to the ground of aims, tasks, parametersof the system of the pension system, objectively conditioned the methods of her perfection by essence and principles of the socially oriented economy.

In the context of these requirements socioeconomic andpolitical meaningfulness of the system of the pension system rises along with existent defects in organization of process of her transformation economic and political meaningfulness of the system of the pensionsystem along with existent defects in organization ofprocess of her reformation stipulates the necessity of search of methods of transformation of the pension system and ground of conception of development of the pension system, corresponding to the modern aims of Republic of Kazakhstan and socially economic terms. Enhance able interest in the problems of the pension system in Kazakhstan and most the economically developedcountries, caused by a world economic crisis, the radicalchanges of demographic structure of population are confirm actuality of the scientific article.
Models of the pension systems used in internationalpractice, makes a generous amount (them counted morethan 160).Models of the pension systems used in international practice, makes a generous amount (them counted morethan 160). As practice shows, from them mainly in aconceptual plan two alternative directions are used: distributive and story. Combination of these two programs with other programs allows to get ten of combinations of the story pensionsystems. The distributive system of the pension systemleans against principle of solidarity of generations, showingup in that workers and their employers pay part of salary onfinancing of the social programs, providing a profit forpensioners, in an exchange on the promise of governmentabout the assured profit to these workers on leaving on apension. On principles of solidarity and current financing thesystems of public welfare of all developed states with thesocially oriented economy, countries of Central and East Europe and post-soviet countries were built.

So, from data SPENDTHRIFT, from 58 of the pension systems overcame by an inspection, 44 used this method. Advantage of the distributive pension systems is possibility to begin payment of pensions immediately. This system isdeprived necessity of additional charges on maintenance,maintenance of purchasing power, maintenance of pensioncapital and main is риска of his complete or partial loss orreal price abatement. However in the distributive system thesize of pension fund straight depends on demographicfactors and market of labour condition level of employment,unemployment, salary, correlation of quantity of payers ofpayments and pensioners. It is also possible to mark othernegative moments: elements of уравнительности,strengthening of social parasitic attitude, weakening ofpropensity to the economies. Уравнительные tendenciesconduce to the unjustified overstating of sizes of pensionone and to the decline of her for other.

An analysis shows that within the framework of distributivemodel of pension leverage of management not so much.Most meaningful it is been only three: adjusting of retirement age, change of the system of pre-schedule pensions, increase of profitableness.

The system based on story principles of financingfundamentally differs from the distributive pension system.Her basic difference is in that everybody forms to itself apension. Id est a working generation pays payments that isnot expended on payments to the elderly people, andcapitalized, invested and together with the profits got frominvesting in future used for the pension system exactlythose, who carried out an accumulation. In the story pensionsystems payments are used for acquisition of financial assets.

Conception of the story pension system is not for the world something new. On sunset becoming of industrial societies this institutecame forward as a basic mechanism of self-defence of workers and shallow businessmen in case of stopping by them to labour activity. He got the "new breathing" in 1980 of ХХ of century is a period of domination of liberal ideas, and found practical embodiment in form the obligatory personalinsurance in Latin America and row of the developing states of other continents [2].

The pension system was so integrated in the system ofeconomic and public connections, that became inalienable part of our life. However for 17 of development many problems accumulated in the pension system of country. On January, 1, 2013 11 story pension fund functioned in Republic.

For this time 8 became the depositors of pension fund, 423 million persons, the volume of pension accumulations grew a to 3 183,2 milliard of tenge (21,2milliards of $.),increasing for a year on 531,8 milliards of tenge.

We will consider the dynamics of height of pension accumulations, pension payments and "net" investment profit. The decline of increase of pension accumulations of the depositors accumulated in story pension fund is caused foremost by the decline of investment profit from investing of pension assets. It contingently an exchange price decline on the financial instruments of basic home and foreign issuers. In 2012 story pension fund was able to show the quite good rates of height of investment profit and other indexes. A law on the pension system envisages three types of pension payments : obligatory pension payments, voluntarily andvoluntarily professional pension payments. In times ofcarrying out reform voluntarily pension payments did not geta wideuse and in the lump sum of the combined pensionassets they occupy an insignificant stake.

On January, 1, 2013 an amount of depositors on obligatory pension payments was 8, 422 millions, while the depositors of voluntarily pension payments were made by 37 793 – less 0,45.We will mark that the positive line of most now functioning story pension fund are their long experience at the market and presence in the number of shareholders of major concerns, banks, financially-industrial groups. But there are negative parties. In particular, activity of practically all storypension fund is characterized by their closed and low level of informative transparency, that for institutes performing suchimportant social duty, is wrong.

At the same time story pension fund in Kazakhstan isabsolutely market institutes functioning in a competitionenvironment, and demonstrating different results of activity.The same touches reliability of story pension fund - from a fund to the fund she changes. And although the state guarantees safety of pension payments taking into accountthe rate of inflation, it does not give to the guarantee, that the chosen fund will last how pleasingly long and will effectively work. Presently every fund independently answers on theassumed obligations and carries out the activity within theframework of the set norms.

A main tendency in investment activity of pension fund moreconservative investing became the last years. At the end of 2008 it was contingently aspiration of funds to bring downpressure on the coefficient of sufficiency of property asset byinvesting in more reliable instruments.

State securities of Republic of Kazakhstan became the main constituent of the combined brief ase, displacing investments in the bonds of the Kazakhstan issuers on the second plan.

Dynamics of structure of the combined investment brief-case of pension fund of Republic of Kazakhstan for 2010-2012. The stake of nonstate securities of issuers of Republic ofKazakhstan and state securities in the brief-case of story pension fund makes 70,65 personal to pension fund it was let to invest in papers abroad to 40%.

It is necessary to mark that a subzero profitableness isobserved long time, thus the first questions appeared already in 2002-2003. In 1999-2001 a story model demonstrated good results, and it was presented as adisplay that a story model is able to demonstrate successwith the first years. Actually these years are the period of stormy height of economy after a practically 8-years-oldslump. However in subsequent a height was slowed, and the profitableness of funds went away below than rate of inflation [3].

Under the Law of Republic of Kazakhstan from June, 21, 2013 "About the pensionsystem in Republic of Kazakhstan"Single story pension fund was created in Kazakhstan.By the decision of the National bank the rules oftransmission of pension assets and obligations of storypension fund were ratified on agreements on the pensionsystem in Single story pension ( Single story pension fund)fund.

Main principle of functioning of Single story pension fund ismaintenance, that a profitableness was higher than rate ofinflation. Consolidation of resources opens, as a rule, additionalpossibilities for their more effective use. The new pension system can be flexible in part ofmanagement, a profitableness will rise, charges will godown on maintenance of the pension system. For the stateand economy there will be pluses, if the pension assets offund will be inlaid by means of long-term investments in infrastructural and other physically tangible objects. In theworld there are many countries with the operating effectivemodel of the pension system, experience of that can beused for perfection of the pension system. According torecent researches of the European commission GreatBritain is an only country of Western Europe, whose pensionsystem in a present kind from the point of view of budget willbe solvent and in subsequent decades.

Reason of it consists mainly in that in the British pensionsystem always notedly there was a story element. On thestate distributive system a task fully to provide a pensionerwas never laid, practice of additional measures wasencouraged, when people in active years put aside facilitiesto support itself in old age.

The analysis of the British pension system shows that forother countries is of interest from the point of view of heraimed at the increase of standard of living of pensioner,intercommunication of obligatoryness and voluntarily,providing state guarantees and wideuse of different sort ofpension privileges. Unby chance the European commissionconfessed the British pension system the leastburdensome for the state budget among other pensionsystems. Her main dignity is aimed at introduction of"popular measures", namely, on the increase of generalstandard of living of pensioners. Obtaining great successes in the increase of standard ofliving of pensioners, further development of the pensionsystem they see in distribution of charts of the additionalpension system of workers with the low level of earnings.

Some countries, such as Argentina,Colombia, Peru, Uruguay, went on the way of reformation,maintenance of the distributive charts and introduction of modest story mechanism as the "second support", ways of creation of the mixed, multilevel systems. Workersget a right for the free choice of the distributive and storysystem and even right to apply them, going across from onesystem and back [8, p. 35-41].

In the process of forming of the pension system it ispossible to use that positive experience of Great Britain, some countries that was mentioned higher. It is also necessary to work out the mechanisms ofthe hard adjusting of issuers in the period of technicaldefault (monitoring from the side of office of publicprosecutor and financial police).

On the instruments of state-private partnership for pension fund to envisage a direct state guarantee on holding plusprofits on the stage of building of object (start-up), after converting in securities under the guarantee of the state tothe achievement of the stage of development of project of break-even, next converting in the securities provided with the assets of enterprise.

Forming of the national pension system answeringnecessities and scales of economy of Kazakhstan is themajor condition of further stable development of country andstrengthening of her positions at an international level.The pension system must be the not simply major structuralelement of the financial system of country, she must be built-in in the system of macroeconomic circulation of national economy by means of forming of operating of all financial system satisfying to the requirements of the real sector ofeconomy in financial resources and presenting quality services in the conditions of free market competition conditions. Kazakhstan needs transparent, highlycapitalized, competitive national pension system.

Literatur:

1.Analysis of development of story pension fund in РК //Announcer L.N. Gumilyov Eurasian National University. Series economic. -Astana, 2010. - № 1 - С.167
2. Akashev A.M. Public welfare: textbook / of A.M. Akashev. it is Almaty: Economy, 2011. - 342 p.

3.Amanbayev M.N. Evolution of the pension system of Kazakhstan // II the International research and practice conference the "Innovative processes and corporate management" are Minsk. 2010. [Electronic resource]. it is access Mode: http://www.sbmt.bsu.by