Quantity of pension funds kept in EPSF by Kazakhstani citizens
Hear Ye, Hear Ye! A Pension Revolution in Kazakhstan! 📣
Get ready, Kazakhstanians! Your President, Kassym-Jomart Tokayev, announced some groundbreaking news on September 1, 2020. Next year, you'll be able to tap into a portion of your Unified Accumulative Pension Fund (UAPF) savings for housing, medical treatment, or even hand them over to financial companies for management 💡📈. Exciting times ahead, eh?
As we speak, preparations are underway to solidify these changes, following directly from the Head of State's instruction. They aim to finish working on all essential regulatory acts by the end of this year – get ready to take control of your pension savings like never before! 💪
Now, let's take a peek at the current state of Kazakhstanis' pension savings:
- Under 500,000 tenge – nearly 6 million people 👩🦳👨🦳
- 501,000 to 1,000,000 tenge – just over 1.5 million folks 💼💼
- 1,000,000 to 3,000,000 tenge – around 2.3 million peeps
- Kazakhstanis can potentially use their Unified Accumulative Pension Fund savings for expenses like housing or medical treatment, or they could choose to invest them in financial businesses for management.
- The average pension savings for Kazakhstanis range from under 500,000 tenge (around 6 million people), 501,000 to 1,000,000 tenge (approximately 1.5 million people), and 1,000,000 to 3,000,000 tenge (approximately 2.3 million people).
- Kazakhstanians, especially those with higher pension savings, will have greater control over their UAPF savings due to upcoming changes announced by President Kassym-Jomart Tokayev.
- Financial management of personal pension savings is an emerging business opportunity in Kazakhstan thanks to the announced pension reforms.
