Pension money might be used for main needs

ASTANA. KAZINFORM - The newly appointed head of Kazakhstan's Saving Pension Fund Nurbibi Nauryzbayeva has said it will be possible to withdraw one's pension savings for education, medical treatment or mortgage.    

Deputy of the Mazhilis of Parliament Gulzhana Karagussova commented on this proposal that such a decision requires thoroughly scrutinized. "There is such international experience, but it involves big actuarial calculations", she said.

"This option is being discussed now. National Bank Chairman had also talked about it because there is such practice in the world. If this option becomes enacted, the money from the pension fund will be provided only for the primary needs - medical treatment, education and mortgage. And it will be surplus accumulated sums which are needed for lifelong payment of pension", Chairman of the Board of the Pension Fund Nurbibi Nauryzbayeva said.