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The Single Pension Fund of Kazakhstan might is considering the possibility of letting its depositors choose investment strategies for their pension savings, a Tengrinews correspondent reports citing Deputy Chairman of the Board of the Fund Ruslan Yerdenayev.
He reminded that before the unification of all pension funds in Kazakhstan, depositors could choose between moderate or conservative strategies of investing their funds. In addition, there are plans of introducing an aggressive strategy.
"In the past, besides the fact that there were several pension funds, there were different investment portfolios, such as moderate and conservative ones. We are proposing to look over this in the future, to allow out depositors to choose a more active stand. Until now, the main objective has been to complete the unification, establish the Single Pension Fund. Now we can start discussing this next issue,” Yerdenayev said.
He also noted that the current situation in the world economy had not led to a decrease in the rate of inflow of funds from the fund's depositors. "We are not yet seeing any changes in the dynamics of inflow of the funds," he confirmed.
As of January 1, 2015, the number of individual pension accounts in the Kazakh Pension Fund equaled 9.959 million units. The total amount of pension savings exceeded 4.5 trillion tenge ($24.2 billion). Kazakhstan is also introducing electronic services allowing the deposits to check their accounts using digital signatures through the E-GOV system.
Reporting by Alisher Akhmetov, writing by Dinara Urazova
