Governor of Kazakhstan’s national bank on early withdrawal of pension savings

Kazakh citizens intend to spend 87 percent of the pension savings withdrawn from the Unified Accumulative Pension Fund on resolving their housing issues. They plan to use more than half of the money to purchase housing or pay off mortgage debts, Governor of the National Bank of Kazakhstan Yerbolat Dossayev said at a government meeting. He elaborated that to date, more than 115,000 applications have been received, of which 78,000 are currently being processed. Dossayev said that overall, since the beginning of the month, pension assets have increased by nearly 2 percent to more than 13 trillion tenge (US$31.175 billion).