According to statistics, the average life expectancy of women in Kazakhstan is longer rather than in men. But the size of the necessary money savings varies with age. Than person is older, more lowering will be the amount of sufficiency.
Kazakh women can negotiate a contract of retirement annuity from 50 years, and men - from 55 years. However, the size of retirement savings in women should be higher.
Under all circumstances, the life insurance company provides for the person a lifelong payment, irrespective of whether will his retirement savings are over or not.
In addition to life expectancy, other key indicators for calculating the amount of sufficiency of retirement savings take place the age of the annuity and the indexation of future payments.
According to the data from Kazakhstan life insurance companies, in this year the amount of sufficiency of retirement savings for the purchase of pension annuity is 13 million 476 thousand tenge for women at the age of 50 years, for men at the age of 55 years - 9 million 636 thousand tenge.
The increase in the level of sufficiency of retirement savings is due to the increase in the amount of the minimum pension and retirement age for women. As is well known, from January 1 of this year the minimum pension is 49 thousand tenge.
Let us remember, how previously reported Tamara Duisenova, as the Minister of Labor and Social Protection of the population, if a Kazakhstani will earn 150 thousand tenge per month since from 23 years, then to 45 years he will be able to accumulate 10 million tenge on his retirement saving account.