Innovation in the Higher Economy and Finance Education: Developing a New Course of ‘Social Security and Pension Provision’

The issue of the essence of the efficient investment of pension savings - young but already fledgling institutional investors - pension funds (APF) of the Republic of Kazakhstan and its reflection in the higher education in economy and finance is addressed in this paper. Because, this issue is not only a concern of the Government of Kazakhstan and the financial market players (including the employees and the top management of pension funds), but is also a concern of the academicians, who are responsible for the educating the specialists for the above mentioned sector Main objective of this study is to discuss the outline of developing the educational and methodological complex for a new course of ‘Social security and pension provision’ that mainly covers the examination and the teaching of the problems of the pension provision with global perspective and under existing economic and social situation of country. The authors believe that, introducing such a new course as an elective discipline will improve the quality of higher financial education of Kazakhstan, since, the issue of social security and pensions was not handled as an independent course before. The new course ‘Social security and pension provision in the case of Kazakhstan’ will help - students to develop skills and knowledge which have critical importance for the future specialist of pension funds as this course will provide students with the theoretical tools and cases from the global practical experiences. Thus, this new course will enable them to interpret domestic social security and pension's reforms as well as to evaluate new technology and latest achievement for modernization of pension model of Republic of Kazakhstan.