Pension assets accumulated in Kazakhstan's UAPF reach 7.27 trln tenge in Aug
ASTANA. Aug 28 (Interfax) - Citizens' pension contributions in the Unified Accumulative Pension Fund (UAPF) stood at 7.27 trillion tenge as of August 1, 2017 or an increase of 8% from January 1, 2017, UAPF Managing Director Maulen Utegulov told a press conference on Monday.
The UAPF currently services 10.09 million individual retirement accounts.
In January-July 2017, net investment income totaled 297.06 billion tenge.
Pension payments in the reporting period amounted to 134.31 billion tenge compared with 106.58 billion tenge in the same period last year.
The Unified Accumulative Pension Fund (UAPF) was organized by the Kazakh government in August 2013 following the amendments to the Law on Pensions which came into force on July 2, 2013. According to the revised law, the previous four pension funds (privately owned Halyk Bank, Grantum, Ular Umit and government-owned GNPF) were merged into UAPF. The consolidation of all pension assets under the new centralized fund was completed in late March 2014.
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