Kazakh President announces new measures of social support for Kazakh citizens

People are the main value of Kazakhstan. Therefore, the fair allocation of national wealth and provision of equal opportunities to every citizen is the key objective of the reforms. These issues were outlined in Kazakh President’s state-of-the-nation address. Kassym-Jomart Tokayev stressed that part of the investment income of the National Fund will be directed to special savings accounts of young Kazakh residents.

“Each family should benefit from the country's national wealth. Thus, I think it is extremely important to announce a fundamentally new program ‘National Fund for Children’ during the Year of Children declared by me. I propose to allocate 50 percent of the annual investment income of the National Fund to special savings accounts of young Kazakh residents until they reach the age of 18, without the right to early withdrawal. Upon reaching adulthood, the accumulated funds will be used for purchasing a home and getting education. These funds will provide the younger generation with real opportunities for stepping into adulthood with confidence,” Tokayev said.

The Head of State noted that the project will be launched in 2024. In addition, starting next year, childcare allowance will be paid until the child turns 1.5 years old. Member of the Senate Dana Nurzhigit thinks that this will allow parents to extend childcare, devoting more time to their offspring.

“I think it would be very useful for babies to be close to their mothers. Babies need extra care at such a tender age. In addition, they require constant care. Our President said in his state-of-the-nation address that it is very important to be close to the child in the earliest stages of his life. Thanks to this decision, parents can witness the development of their child, observe his first steps and much more,” noted Dana Nurzhigit, member of Senate, Upper House of Kazakh Parliament.

President Tokayev also touched upon the issue of the retirement age for women. According to him, it will not be changed until 2028, staying fixed at 61 years.

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