Tengrinews TV Радио Tengri FM Радио Жұлдыз FM Laws of Kazakhstan
KZ RU EN
Write us +7 (727) 388 8020 +7 (717) 254 2710
искать через Tengrinews.kz
искать через Google
искать через Yandex
USD / KZT - 334.89
EUR / KZT - 361.61
CNY / KZT - 48.70
RUB / KZT - 5.28

Inflation demolishes pension savings in Kazakhstan

05 june 2011, 22:11
0
Maira Kichigina. Photo by Sergey Perkhalsky©
Maira Kichigina. Photo by Sergey Perkhalsky©
Profitability of pension funds does not exceed inflation rate, Tengrinews.kz reports citing Maira Kichigina, Deputy Chairman of Narodny Bank Kazakhstan Pension Fund.

“Depositors frequently say that pension funds have insufficient profits. Before 2007 profitability of the funds exceeded inflation. But amid the current macroeconomic situation in the country the funds' profitability is below the inflation rate,” said Deputy Chairman of Narodny Bank Kazakhstan Pension Fund Maira Kichigina.

As per Kichigina, the situation is caused by the National Bank's requirements and limitations. “State securities occupy almost half of out portfolio. Their profitability is currently almost twice lower than the inflation rate,” she said. Hence, it is useless to expect pension funds to bring profits higher than the inflation under such conditions.

Maira Kichigina reminded that starting from January 1, 2012 depositors of pension funds will be able to choose which portfolio to put their money in: moderate or conservative.

Savings of retirees and ones close to retirement will automatically go into the conservative portfolio.

Middle-aged and young depositors will be able to choose the moderate portfolio. This portfolio differs from the conservative one by the lesser share of low-profit state securities and a greater share of more high-risk financial instruments.

Нравится
Add comment
Most Read
Most Discussed