Kazakhstan is moving forward with its new pension system. However, some are concerned it will mean lower revenues for the state budget and more money in the shadow economy.
Earlier Kazakhstani residents just withdrew their entire pension savings when moving to another country and managed the entire amount at their own discretion.
Starting from next year, part of the assets will be managed by private companies (…) to develop the People’s IPO Program and take part in IPOs run by various companies. The National Bank will be responsible for investing into government securities: Central Bank Governor.