Today Kairat Kelimbetov, the head of the National Bank asked not to have high hopes for a unified pension fund. The country’s chief banker said that he, of course, will try to multiply Kazakhs savings for old age, but asked not to have any illusions. But Kelimbetov assured citizens that for retirement savings they need not worry – all the money securely hedged against inflation, the KTK TV channel informed.

– Investment income should not be less than inflation.

– We have a law, which clearly says that if it is lower than inflation, the budget closes the difference.

– This is bad, the second time we spend our money.

– Returns of all funds over the past 10 years have been below than inflation two times.

The process of deposits translation from private pension funds in the Unified Accumulative Fund has finally ended. Almost 4 trillion tenge we have in the bank now. The Head of the National Bank promised that after 1 July, any investor can know the status of their pension money and the amount of income in the last year. Until that time, fund workers will gather all the information and open new service centers. Well, the government, together with experts now will decide how to increase deposits and securities, in which it is better to invest. However, Kelimbetov asked not to wait “mountains of gold”.

Kairat Kelimbetov, the Chairman of the National Bank of Kazakhstan:

“We should not wait for miracle form the Unified Accumulative Pension Fund. There is a particular feature of financial markets. We will try to improve efficiency. These tasks are set by the head. In order not to promise something, we will inform you at the end of the year of the previous and current status. 

Yevgeniya Bodrova