The Social Fund of Kyrgyzstan proposes to invest pension savings in an alternative instrument such as refined gold. The bill has been submitted for public discussion.
The Fund notes that it is now pursuing a conservative investment policy. This is due to the fact that the importance of ensuring the safety of pension savings of insured persons prevails over their profitability. But the gradual development of the pension system will lead to the risk of reduction of rates on instruments with fixed yield.
This amounts to 3,842.3 billion soms. At the same time, the Social Fund does not know how and where the purchased precious metal will be stored. It says that the issue of further storage of gold bars will be worked out during the implementation of the bill. If the idea is approved, the size and volume of refined gold, where pension savings are supposed to be invested, will be determined.
In addition, it is proposed to invest the money in notes of the National Bank to ensure their mobility and more efficient management.
Source: 24.kg News Agency