Pension assets of Kazakh citizens decrease to US$31.3 billion

Pension assets of Kazakh citizens decrease to US$31.3 billion
24.kz

The number of depositors in the Unified Accumulative Pension Fund decreased by 6,000 since the beginning of the year. This is due to the increased outflow of citizens from the country. The UAPF reported that Kazakh citizens who moved abroad withdrew almost 17 billion tenge (US$41 million), which is seven billion (US$16.9 million) more than in the same period last year. In general, the pension assets of the country’s citizens decreased to 13 trillion tenge (US$31.3 billion). Investment income amounted to about 137 billion tenge (US$331.2 million). 12.9 trillion tenge (US$31.1 billion) is in trust management of the National Bank. Meanwhile, experts note a decrease in the profitability of the UAPF due to rising inflation. According to the First Credit Bureau, over four months of this year the profitability increased by 0.88 percent, while inflation grew by 7.2 percent.

 

Translation and editing by Galiya Khassenkhanova