Kazakhstan to develop new investment strategy for UAPF
Kazakhstan will develop a new investment strategy for a unified accumulative pension fund. The country intends to involve professional and transparent private companies with impressive investment experience in the management of these assets. Rizvangul Darayeva, Deputy Head of the Almaty Department of Labor and Social Protection Committee, reported on the measures to improve the efficiency of the Kazakhstan’s pension system at a press briefing. Darayeva stressed that the they would boost retirement savings of Kazakh residents. To date, the total amount of pension assets has exceeded 13 trillion tenge. Meanwhile, the UAPF investment portfolio yield rate amounted to about 11 percent in the past year.