All pension funds in Kazakhstan to merge: President
21:04, 23 January 2013
ASTANA. January 23. KAZINFORM President of Kazakhstan Nursultan Nazarbayev suggested creating a single pension fund at the Government's meeting on Wednesday.
"In order to improve the pension scheme, the single pension fund needs to be created. All money from the private pension funds should be merged into one," the Head of State noted.
In his words, the amalgamated pension fund under the National Bank of Kazakhstan will allow to administer funds more effectively.
"The Government and the National Bank are to prepare their proposals in a month's time," he added.