Kazakh pension system not ensure pension guarantee to its participants
Almaty. November 20. Kazakhstan Today - The accumulative pension system of Kazakhstan does not ensure the necessary level of pension guarantee to its participants in the future. The chairman of the Council of Association of Pension Funds, Aidar Alibayev, informed at the round table on Accumulative Pension System - New Challenges on Wednesday, agency reports. According to the official data of the financial inspection agency, as of September 1, 2008 the average amount of pension payments exceeded 145 thousand KZT. If 2.5 million depositors have more than one pension contract, average amount of pension payments in their accounts totals over 199 - 200 thousand KZT," the chairman of the Council of Pension Funds Association said. "Thus, taking into account the defined for today amount of pension payments of 250 thousand KZT a year, or 20 thousand 800 KZT a month, the sum accumulated for 10 years will be enough only for 9.5 months, if a person reaches retirement age," A. Alibayev said.
Resourse: Kazakhstan Today