National Bank approves schedule for transfer of pension assets to Single Pension Fund

Transfer of pension assets and obligations of the existing Kazakhstan pension funds to the newly created Single Pension Fund will start on October 11 and finish on June 26, 2014, KazTAG reports. Nine Kazakhstan pension funds will be transferring their assets and obligations to the Single Pension Fund on the schedule. According to the schedule approved by Kazakhstan National Bank, the assets and obligations of Respublika Pension Fund will be be transferred first. The start is scheduled for October 11, 2013 and the process will last until January 11, 2014. It will be followed by other pension funds: Otan (October 29, 2013 to January 29, 2014), Kapital (November 18, 2013 to February 18, 2014), Atameken (December 9, 2013 to March 9, 2014), Astana (January 3 to April 3, 2014), NefteGaz-Dem (January 23 to April 23, 2014), Grantum (February 10 to May 10, 2014), UlarUmit (March 3 to June 3, 2014) and Kazakhstan Khalyk bank’s Pension Fund (March 26 to June 26, 2014).