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Bakytzhan Sagintaev: "The EAEU countries transfer interaction in the sphere of pension provision of workers into electronic format"
This was reported by Bakytzhan Sagintaev, Minister in charge of Economy and Financial Policy of the Eurasian Economic Commission, speaking at the International High-Level Round Table on September 28 in Almaty (Kazakhstan). The discussion was devoted to the search for optimal and sustainable models of pension systems, as well as the prospects for developing mandatory funded and mixed systems.
Bakytzhan Sagintaev, EEC Minister in charge of Economy and Financial Policy, informed the round table attendees about the law enforcement practice of the Agreement on pension provision of workers of the Eurasian Economic Union countries, which came into effect on January 1, 2021. He has noted that nowadays the EAEU countries conduct outreach efforts to transfer interaction in the sphere of pension provision of workers into the electronic format, which will be carried out using the Union's integrated information system.
"The completion of this work will significantly simplify all procedures related to the assignment and payment of pensions, will ensure the maintenance of an appropriate level of information security, as well as reduce the time for processing citizens' applications for assigning and paying pensions," Bakytzhan Sagintaev emphasized.
The event emphasized the importance of developing cooperation of all stakeholders in improving social protection systems.
"The positive trend in the EAEU labor migration dictates the priority of implementing labor and social guarantees," the EEC Minister stated. "In this regard, the issues of social security, including pension provision, play an important role in the integration processes between the EAEU countries".
For reference
The High-Level International Round Table in Almaty was held under the auspices of the Unified Accumulative Pension Fund of Kazakhstan and the International Social Security Association. It was timed to celebrate the 25th anniversary of the funded pension system of the Republic of Kazakhstan.
During the event, there was an exchange of experience and knowledge between experts from Switzerland, Chile, Australia, China, Saudi Arabia, Singapore, Israel, Uruguay, Canada, Italy, etc., as well as representatives of the Organization for Economic Cooperation and Development, International Social Security Association, World Bank and others.
