Kazakhstan has changed the rules for pension annuities, its financial regulator says.
Kazakhstan has changed the rules for pension annuities, its financial regulator says.
When a client switches life insurance companies, the buyout amount must now include investment income earned. Previously, a client could be offered part of that income in cash on switching, which shrank the sum used to calculate lifelong pension payments and could lower the pension itself.
A technical fix, but one that protects retirees' monthly income from being quietly eaten away.
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