Who should I trust with my pension? Tips from the head of Halyk Finance

May 6, 2024

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Our guest is Okhonov Farhad Rashidovich, Chairman of the Board of Halyk Finance.
The accumulative element of the pension system is the object of constant public criticism. One of the problems is the low investment profitability. During the period of the UAPF's existence (2013-2023), the accumulated investment yield amounted to 139.2% with accumulated official inflation of 153.8%. At the same time, during this time, the tenge exchange rate weakened by 202%.
Since last year, Kazakhstanis have had the opportunity to transfer up to 50% of pension savings to private management companies, but citizens are in no hurry to use this opportunity. Less than 1% of all pension assets are managed by private companies.
About the reason for the low profitability of the UAPF, why citizens do not use the opportunity to transfer their savings to private managers, where to store and where to invest their savings, watch our video.

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