Contributions to Kazakh Pension Fund increase in 2014
Astana, Kazakhstan, Feb. 6
By Daniyar Mukhtarov - Trend:
Citizens of Kazakhstan transferred 632 billion KZT ($1 - 184.75 KZT) to the Pension Fund in 2014, which is 12 percent higher than in 2013, said a message of analytical service Ranking.kz.
"Contributions of one employee for the period averaged 104, 000 KZT, which is 10, 000 KZT more than a year earlier," said the message. "The amount of pension savings in Kazakhstan grew by 726 billion KZT and amounted to over 4.5 trillion KZT in 2014 compared with 2013."
In accordance with the new concept of development of the financial sector of Kazakhstan until 2030, part of the pension assets is invested in the country's economy through the Bank's financial instruments. The yield of the Single accumulative pension fund was 6.3 percent in 2014, according to the National Bank of Kazakhstan.
The fastest growing pension contributions are observed in Mangistau region (24 percent increase - up to 44.4 billion KZT) and Astana (23 percent growth - to 86.2 billion KZT).
The largest amount of pension payments in the last year fell on Almaty - more than 117.8 billion KZT (18.6 percent of all payments in the republic).
Edited by CN