The Ministry of Finance is considering to introduce a differential allocation of special government bonds with guaranteed interest rate at 4.86%, issued to pension funds.
Prior to 2003, pension funds 70% of the funds invested in special government bonds with fixed income. After this amount of bonds was reduced to 30%. Bonds mandatorily included in the client portfolio of each pension Fund.
Under the new initiative, the portfolio of the members of the pension Fund, already retired, will consist of special government bonds to 65%-70%, in order to minimise exchange risks.
The volume of government bonds in the portfolios of clients aged 50-65 years will remain at 30%, but customers under the age of 50 years guaranteed notes will be allocated only up to 15% of the portfolio.