The Socialist government's plans to reform France's debt-ridden pension system , to be presented to ministers this month, fail to address the core problems and could spark fresh tensions with Brussels.
Completion of the talks was expected in May-June so that the actual merger could start from July 1. The National Banks expects the talks to be over in August.
The compound of the Single Pension Fund’s Managing Board is subject to Kazakhstan President’s approval. It is to include reps of the Government, Central Bank, financial market players as well as independent experts.
The payback from the pension reform could be insignificant should the Single Pension Fund’s assets be invested in the same way the National Oil Fund’s assets are invested: Fitch Ratings.
The changes should be gradual. For women who will be retiring before 2018 the retirement age will be annually raised by half a year within the following 10 years: Labor Minister.
The Australian government's pension fund for public servants Thursday announced it would sell off its Aus$222 (US$228) million holdings in tobacco companies following the nation's move towards plain packaging.
A foreign company interested in the local market suggestion to merge all the Kazakhstan pension funds into one and transfer it to foreigners for management was made in 2010: source.
Kazakhstan Vice-PM Kelimbetov deflated the rumors that the government was planning to use the funds of the coming single pension fund to finance the EXPO.