THE PROJECT OF THE LAW " ABOUT SOCIAL INSURANCE" IS PREPARING IN KAZAKHSTAN

The project of the law " About social insurance ", which supposes implementing of three kinds of obligatory insurance: at the loss of ability to work, at the loss of breadwinner and at the loss of work is preparing in Kazakhstan. The Minister of labor and social protection of population Mr. A. Baimenov announced this news during the meeting with the deputies of majilis in October 1.

According to the Minister's words, now existing size of the social tax " will be divided" in two parts: 18% of the social tax will be directed, according to the acting scheme, to the budget, and 3% - to the special created fund of the state obligatory social insurance. The fund will be created as a non-commercial organization with 100% of the government's participating, explained the Minister. The National bank will accomplish keeping and managing with its assets for providing safety of the fund's assets, and the Government of the republic will affirm the list of financial instruments and the structure of investment portfolio. Also it is suggested, that in the case of insurance event the participants of the obligatory social insurance system will get additional relief from the fund besides of budget payments. The size of additional payments will depend on the size of assets, accumulated on the personal accounts of the workers. New system is suggested to be put into operation since January 1, 2003 year.