Without unification of retirement age Kazakhstan budget deficit to exceed USD 19 bln until 2023 - Marchenko

"We have repeatedly published these calculations, so the budget deficit until 2023 can be 19,6 billion U.S. dollars without the unification of the retirement age of women," Marchenko said.

According to him, this category (the female part of the retirement-age population) account for 26% of the total number of pensioners.

The head of the National Bank also stressed that the need to take into account the factor of the "baby boom" generation, born from 1946 to 1959, which is the largest cohort of potential and actual retirees.

In most countries (Luxembourg, Switzerland, Sweden, Italy, Finland, etc.) standard retirement age is 65 years old and does not depend on the sex of the employee. In the UK, the general retirement age is 60, the same is in Austria, Malta, Lithuania, Croatia. In Norway, both men and women have the right to retire at the age of 67.

According to the UN, in 2000, the number of older people in the world increased by 750,000 each month, and in 2020, according to forecasts, this growth will be about 2 million people a month.