BISHKEK: Kyrgyzstan’s Social Fund gains authority to invest pension savings in the National Bank’s gold reserves, following a directive signed by President Sadyr Zhaparov, Trend reports.

According to the presidential press service, the move underscores a strategic shift toward long-term investment strategies, with pension savings earmarked for assets such as precious metals (gold, silver, platinum), and National Bank securities. This law was approved by the Kyrgyzstan’s parliament on April 3.

Additionally, the law mandates the establishment of a reserve fund by the Social Fund to bolster the financial stability of the State Pension Fund, utilizing resources from the latter.

Prior to this, the Social Fund could only invest in a limited list of instruments, namely bank deposits and government securities. The Social Fund itself has expressed multiple times that it wanted to change the investment system.

Source: Trend News Agency