Nursultan Nazarbayev has suggested creating a single pension fund in Kazakhstan.
Kazakhstan government has signed a decree raising pensions by 9 percent starting from January, 2013.
Kazakhstan Majilis deputy from the Communist party Vladislav Kossarev has doubts about Kazakhstan’s pension system.
As of December 1, 2012 the average retirement allowance stands at $257.
We have to admit the country’s pension system has faced a crisis. Peniosn funds are ineffective in managing the money. Inflation is eating the accumulations, a Majilisman believes.
Besides adopting a resolution - Say no to raising retirement age! Fire Marchenko! - the protestors also target private pension funds in Kazakhstan.
Earlier Tengrinews.kz reported that Mr. Marchenko doesn’t support the World Bank’s suggestion on launching a single pension fund.
Ontario Securities Commission filed quasi-charges to a businessman in alleged fraud involving Kazakhstan pension fund.
A new concept of the pension accumulation system is being allegedly developed through merging all the current pension funds into a single state-owned fund to be managed by a foreign company.
Mr. Marchenko emphasized that Kazakhstan needs to think of public private partnerships to launch investment projects inside the country.
81.1 percent of the polled citizens do not support the initiative of raising women's retirement age to 63.
According to an unidentified source, the suggestion of launching a single state-owned pension fund was put forward by the World Bank.
Heads of some pension funds manage the money as if it were their own and serve interests of shareholders: Nazarbayev.
Pensions have been increased by 9% starting from January 2012 in Kazakhstan.
Around 17 billion tenge ($116 million) has been accumulated on pension accounts. And they are not being used in any way.