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Pension accruals edge up 0.65% in August, reports FSA
Almaty, September 18 2008
As of September 1, 2008 public pension accruals by Kazakhstan's pension funds came to 1,383.3 bl tenge, which is an increase of 0.65% in August, announced the Financial Supervision Agency (FSA).
According to FSA, during the reported month the total net income from investments reached 360.97 billion tenge (down 2.97% in August) which is 26.09% of the total amount of the pension accruals (0.98% down).
The number of mandatory pension deposits by clients totaled 9,446,322 as of September 1, 2008 with an overall value of 1,378.2 billion tenge, or a 0.37% rise in August.
Meanwhile, the number of voluntary pension deposits rose 0.22%, totaling 41,474 as at the said date and had a total value of 932.2 million tenge.
The number of voluntary professional pension deposits reached 4,019 and were valued at 60.8 million tenge.
As of September 1 fourteen pension funds operated in the republic, which together manage 75 branches and 48 representative offices throughout the republic.
Investment management of pension assets is carried out by 13 organizations, including 9 pension funds licensed to manage their own pension assets.
The population of Kazakhstan tops 15.6 million people.