Kazakhstan paid off all its pension debt

/IRBIS, Jan.11, 00/ - REUTERS informs, with the reference to the general director of State center for pension payments (SCPP) Fuat Nazyrov, that Kazakhstan paid off all its pension debt, which has amounted to KZT30 bln, with payment delays of 40 days. "Delays in pension payments began last year from about April and reached 40 days. In December KZT30 bln debt was fully paid off and now we do not have pension and benefit debts", he said. More than KZT11 bln is required for pensions and benefits in one month. Each region transferred sufficient funds to the country's budget and the payment is made according to the schedule developed a year ago with local executive bodies. Today accumulative pension system of Kazakhstan has 3 mln people of 15 mln population. 900 thousand people entered into agreements with State accumulative pension fund (SAPF) and became its depositors. There are 2.6 mln people in Kazakhstan who receive pensions and benefits. From January 1, 2000 minimum amounts of pensions were increased from KZT3 thousand to KZT3.5 thousand. Public relations department of Halyk bank (which is in charge of pension payments) informs all branches of the bank received necessary amounts and delays may occur only because of weather conditions in remote areas. Kazakhstan began its pension reforms in 1998 by transferring the united system into the accumulative system. The country has 15 private and one state pension funds.