MINIMAL CAPITALIZATION FOR KAZAKHSTANI PAPF TO BE RAISED UP TO 150 MLN TENGE

/IRBIS, Nov.24, 99/ - Deputy chairman of the Committee for regulating pension funds, Ryskhan Baimurzin said, the lower level of private accumulative pension funds' (PAPF) authorized capital would be raised at least up to 150 million tenges. Now it is 90 mln tenges. Mr. Baimurzin said 150 mln was not the final figure, but the capitalization would be raised anyway. Lifting the requirement for capitalization of PAPF is not aimed at shrinking their numbers (now there are 15 of them). The main task, according to Baimurzin, is to make them stable and protect pension savings of the population. Baimurzin also said the government was discussing the matter on privatizing CJSC "Gosudarstvennyi nakopitelnyi pensionnyi fond" in next year.