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Tatyana Khomutova supported the retirement reform by skydiving. Photo by Rizabek Issabekov©
57-y.o. Pavlodar citizen skydives to support retirement reform

57-y.o. woman went skydiving in Pavlodar to support the retirement reform in Kazakhstan.

57-y.o. Pavlodar citizen skydives to support retirement reform
Halyk Bank. Yaroslav Radlovsky ©
Samruk-Kazyna may purchase Halyk Bank Pension Fund through selling its stake in BTA Bank

February 4 Kazakhstan’s President Nursultan Nazarbayev commissioned the Fund to exit the earlier bailed-out banks within a year’s time.

Samruk-Kazyna may purchase Halyk Bank Pension Fund through selling its stake in BTA Bank
Labor Minister Serik Abdenov. ©primeminister.kz
Kazakhstan to gradually raise retirement age for women

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.

Kazakhstan to gradually raise retirement age for women
©REUTERS
Australian government pension fund dumps tobacco

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.

Australian government pension fund dumps tobacco
Governor of the National Bank of Kazakhstan Gregory Marchenko. Photo by Yaroslav Radlovskiy©
To launch the single pension fund, amendments are to be introduced into 22 laws and 8 Codes: Central Bank Governor

Should the amendments be passed in the autumn only, no consolidation could take place.

To launch the single pension fund, amendments are to be introduced into 22 laws and 8 Codes: Central Bank Governor
Chairman of Kazakhstan National Bank Gregory Marchenko. Photo by Yaroslav Radlovskiy©
Marchenko points at Kazakhstan private pension funds' mistakes

Kazakhstan private pension funds were over-investing in public securities inside Kazakhstan and under-investing abroad: Marchenko.

Marchenko points at Kazakhstan private pension funds' mistakes
Photo courtesy of wordpress.com
Merger of Kazakhstan’s pension funds planned since 2010

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.

Merger of Kazakhstan’s pension funds planned since 2010
Kairat Kelimbetov. ©pm.kz
Money of single pension fund not for EXPO-2017: Kelimbetov

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.

Money of single pension fund not for EXPO-2017: Kelimbetov
Kazakhstan National Bank. Photo by Yaroslav Radlovskiy©
Pension savings in Kazakhstan grew 20 percent in 2012

Savings in Kazakhstan's pension funds grew 20.1 percent and made 3.2 trillion tenge ($20.7 billion) in 2012.

Pension savings in Kazakhstan grew 20 percent in 2012
Governor of the National Bank of Kazakhstan Gregory Marchenko. Photo by Yaroslav Radlovskiy©
National Bank Governor warns against dominance of public bodies reps in the Single Pension Fund Board

According to him, in the long run the Government may need money to cover the budget deficit or finance some state-run projects and there might be a temptation to rely on pension savings.

National Bank Governor warns against dominance of public bodies reps in the Single Pension Fund Board
National Bank Head Gregory Marchenko. Yaroslav Radlovsky©
National Bank Governor on ways current pension funds could take

They can be transformed into asset management companies; they can be transformed into pension funds working with voluntary savings schemes; or they can wind up and exit the market: Gregory Marchenko.

National Bank Governor on ways current pension funds could take
National Bank Head Gregory Marchenko. National Bank Press Servive©
National Bank Governor on investing pension assets into infrastructure projects

Pension savings are to be consolidated into a single pension fund by July 1, 2013.

National Bank Governor on investing pension assets into infrastructure projects
Kazakhstan Vice-PM Kairat Kelimbetov. Photo courtesy of pm.kz
Pension savings of Kazakhstan citizens to be consolidated in single pension fund by July 1

Creation of the single pension fund does not mean nationalizing of pension savings: the savings will still be owned by the citizens: Vice-PM of Kazakhstan.

Pension savings of Kazakhstan citizens to be consolidated in single pension fund by July 1
KASE President Kadyrzhan Damitov. © Yaroslav Radlovsky
Kazakhstan Stock Exchange Director on the planned single pension fund

Although the number of issuers will decrease, there will be one powerful investor (…) the investment rules are expected to be liberalized: Kadyrzhan Damitov.

Kazakhstan Stock Exchange Director on the planned single pension fund
Gregory Marchenko. By Vladimir Dmitriev ©
Current pension funds could be transformed into asset management companies: Central Bank Governor

According to him, the Government is to hire an assessment company to fairly and independently evaluate the assets so that they could be bought out later on at a fair market value.

Current pension funds could be transformed into asset management companies: Central Bank Governor
Chairman of Kazakhstan National Bank Gregory Marchenko. Photo by Tengrinews©
Central Bank Governor on the upside and downside of the suggested single pension fund

According to him, if there is a single pension fund managed directly by the Government or by the National Fund, there will be no deals closed with affiliated companies.

Central Bank Governor on the upside and downside of the suggested single pension fund
Central Bank Governor Gregory Marchenko. Vladimir Dmitriyev ©
National Bank shouldn’t act as both the owner and regulator of the single pension fund: Gregory Marchenko

President made the decision to the benefit of the nation (…) and it will be brought to life, Central Bank Governor pledged.

National Bank shouldn’t act as both the owner and regulator of the single pension fund: Gregory Marchenko
Serik Abdenov. ©primeminister.kz
Labor Minister comments on suggested single pension fund

According to him, the Government suggests channeling the money to support S&MBs within the Business Development Roadmap – 2020 as well as to finance infrastructure projects.

Labor Minister comments on suggested single pension fund
Zhomart Ertayev. © Yaroslav Radlovsky
Banker Zhomart Ertayev lists benefits of a single pension fund

According to him, the measure will provide finances for long-term infrastructure projects that are badly needed.

Banker Zhomart Ertayev lists benefits of a single pension fund
Minister Erbolat Dossayev ©primeminister.kz
Minister of Economic Affairs commenting on single pension fund

I don’t think there will be literally a single pension fund. The point was to introduce a single system to manage pension accounts: Erbolat Dossayev.

Minister of Economic Affairs commenting on single pension fund