National Bank to give part of Kazakhstani pension money to companies: program until 2030

Tengrinews.kz — By 2030, the share of pension assets managed by private domestic companies is planned to reach 20–30 percent. This was announced by Nurzhan Tursunkhanov, Deputy Chairman of the Agency for Regulation and Development of the Financial Market (ARDFM), during a meeting with international investors, citing the Agency's website.
In his speech, Tursunkhanov presented the key pillars of the Capital Market Development Program through 2030, developed by the ARDFM in collaboration with the National Bank.
The program aims to expand financing opportunities for businesses, foster sustainable domestic demand for securities, increase market liquidity, and strengthen investor protection.
One of the primary focus areas will be increasing the involvement of private domestic companies in managing pension assets.

"The plan involves the gradual transfer of a portion of the National Bank's pension portfolio to licensed managers on a competitive basis, starting with government securities. Uniform requirements for risk management, internal controls, and information disclosure will be established, and assets will be held by an independent custodian, separate from the managers' own funds. By 2030, the share of pension assets managed by private domestic companies is expected to reach 20–30 percent," the report states.

Note: A custodian (or custodian bank) is a specialized financial institution, typically a large bank, responsible for the storage, accounting, and protection of securities, cash, and other financial assets belonging to its clients.
It was previously reported that Kazakhstan is refining the rules for calculating participation periods in the funded pension system based on mandatory pension contributions (MPC). The new amendments aim to resolve disputes regarding the calculation of service years.