Impact of COVID-19 on Ageing and Retirement System: Key Policy Considerations
Izekenova A.K. Rakhmatullina A.T. Izekenova A.K. Tolegenova A. Yermekbayeva D.D.
2021Institute of Economics Committee of Science MSHE RK
Economy: strategy and practice
2021#16Issue 3167 - 176 pp.
The authors attempt to conduct interdisciplinary research in epidemiology demography and pension economics. A literature was selected upon its relevance to the following key words: COVID-19, ageing and retirement system. The following methods are used: Historical content analysis, information, and analytical, comparative analysis. The analysis part is mainly based on secondary data of Committee on Statistics of the Republic of Kazakhstan and world recognized institutions’ reports such as World Health Organization, United Nations and World Bank. In the demographic analysis the traditional and alternative indices of population ageing such as Old Age Dependency Ratio (OADR) and Prospective Old Age Dependency Ratio (POADR) were widely used. By August 5, 2020, Kazakhstan has 94,882 registered cases of CVI, 67031 people recovered and 1058 deaths. Confusion in the demographic statistics of COVID-19 cases showed all the shortcomings. Even though the OADR and POADR ratios are rising in accordance with UN forecast, the global pandemic will adjust the population ageing, since the mortality of the elderly population from this disease is higher than in other age groups. The Kazakhstani retirement system has been suffered by the COVID-19 as well. Human losses, income poverty and increase in pension costs put a burden on state budget. The research presents recommendations on supporting measures in several directions that need to be taken by policy makers during post COVID-19 period in retirement system.
ageing , COVID-19 , global pandemic , post COVID-19 , retirement system , risk of mortality , social insurance , social security
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University of International Business, Abaya Ave., 8a, Almaty, 050010, Kazakhstan
Asfendiyarov Kazakh National Medical University, 94 Tole Bi str, Almaty, 050012, Kazakhstan
University of International Business
Asfendiyarov Kazakh National Medical University
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