Pension reform in Kazakhstan raises questionsKazakhstan 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.
Single Pension Fund to attract private companies for assets managementStarting 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.
Kazakh deputies outraged at risky investments of Single Pension FundKazakhstan MP of Ak Zhol faction voiced their serious concern over the investments the Single Pension Fund was practicing. In their opinion, these activities may lead to destabilization of the entire lending sector of Kazakhstan.
State-run Single Pension Fund to deposit money with Kazakhstan-based banks“I commission the National Bank and the Government to work out a strategy to invest the assets of the Pension Fund, including depositing the money with Kazakhstan-based banks for a long term”, President Nazarbayev said earlier.