The Cabinet of Ministers of Kyrgyzstan has adopted a resolution introducing changes to the management of pension savings for individuals who have not selected a pension fund management company.
Under the new rules, pension savings can now be invested in shares of Kyrgyz companies registered as open joint-stock companies, with such investments capped at no more than 10 percent of total pension funds.
Specific criteria have been introduced for companies whose shares may be purchased using pension funds: they must operate officially in Kyrgyzstan, have no debts to the state, and possess verified financial statements.
Some regulations for pension fund management have also been simplified — for example, one threshold has been lowered from 25 to 20.
These changes aim to ensure more effective and secure management of citizens’ pension savings.
The resolution will take effect in 15 days after its official publication.