February 6, 2013 / 6:52 AM / 5 years ago

Kazakhs to merge pension assets into state-run fund by July

ASTANA, Feb 6 (Reuters) - Kazakhstan aims to merge its private pension fund assets into one state-run pension fund by July 1 this year, Deputy Prime Minister Kairat Kelimbetov said in a statement on Wednesday.

Kazakh President Nursultan Nazarbayev ordered the government last month to merge the country’s private pension funds and deploy billions of dollars of their assets to sustain rapid growth rates, without raiding the strategic oil fund. (Reporting by Raushan Nurshayeva; Writing by Dmitry Solovyov; Editing by Hans-Juergen Peters)

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