As of May 1, 2024, within the framework of the National Fund for Children program, UAPF JSC executed (transferred to authorized operators for crediting to the bank accounts of applicants) 5,845 applications for a total amount of 585,641.64 US dollars, of which for the purpose of improving housing conditions, 2,634 applications were fulfilled in the amount of 263,664.90 US dollars, for payment of education - 3,211 applications in the amount of 321,976.74 US dollars.
Note that the recipient of target savings has the right to use both the entire amount due to him and part of it, while the balance of the unused amount remains in the target savings account (TSA).
Let us recall that in February 2024, the first TSA payments began to be received in the UAPF for citizens who reached 18 years of age in 2024, as part of the National Fund for Children program. According to the program, 50% of the investment income of the National Fund of the Republic of Kazakhstan (hereinafter referred to as the National Fund) is annually distributed among child citizens of the Republic of Kazakhstan of all ages up to 18 years.
TSA funds are intended to be used to improve housing conditions and pay for education through authorized operators who have entered into appropriate agreements with the UAPF, and are stored in US dollars. After reaching the age of majority, recipients of targeted savings can use them for the specified purposes.
The authorized operator for the use of targeted savings for housing is Otbasy Bank Housing Construction Savings Bank JSC.
You can use targeted savings for education through two authorized operators - Otbasy Bank Housing Construction Savings Bank JSC and Halyk Bank of Kazakhstan JSC.
Housing Improvement
The most active among those who chose to use funds to improve their living conditions were residents of Shymkent (526 applications were executed in the amount of 52,870.40 US dollars), in second place were residents of the Kyzylorda region (354 applications were executed in the amount of 35,582.52 US dollar), in third place are residents of Astana (204 applications were completed in the amount of US $20,399.30.
At the same time, the most popular sub-goals for using funds were: replenishing the deposit in housing construction savings for further accumulation (2,502 applications were completed in the amount of 250,502.02 US dollars), purchasing a home as a property under civil law transactions (final settlement) - 37 applications per the amount of 3,718.20 US dollars, making a down payment to obtain a mortgage loan for the purchase of a home – 32 applications in the amount of 3,215.08 US dollars.
Payment for Education
The most active Kazakhstanis who used funds to pay for education were residents of the city of Shymkent (584 applications were executed in the amount of 58,613.30 US dollars), in second place were residents of the Zhambyl region (322 applications were executed in the amount of 32,312.44 US dollars), in third place are residents of the Zhetisu region (287 applications were completed in the amount of 28,772.44 US dollars).
Among the most popular subgoals in this area, one can highlight payment for educational services of educational organizations located on the territory of the Republic of Kazakhstan, in shares (for each academic period or academic year) or in full at a time (for the entire period of study) - while 2,684 applications for the amount of 269,052.22 US dollars. In second place in popularity is replenishment of an educational savings deposit under an educational savings deposit agreement (386 applications were completed in the amount of 38,762.64 US dollars), in third place is payment for educational services of foreign educational organizations in shares (for each academic period or academic year) or in full at a time (for the entire period of study) (95 applications were completed in the amount of 9,539.52 US dollars).
Let us remind you that the amount will increase annually due to the growth of the National Fund and the receipt of investment income. In addition, the accrued funds will continue to be invested as part of the National Fund’s assets and bring additional investment income to children participating in the program until they reach the age of 18.
The total number of program participants as of 01/01/2024 is 6,919,131 children (children born from January 01, 2006 to December 31, 2023 inclusive). Of these, 304,815 participants will turn 18 years old in 2024 (children born from January 01, 2006 to December 31, 2006 inclusive). They were all awarded the same target claim amount of $100.52.
Parents or other legal representatives of a minor can check information about including a child in the list of participants in target requirements on the website kids.enpf.kz using the child’s IIN, where you can familiarize yourself with the terms of the program, receive instructions, and answers to questions of interest.
Parents can also check data on accruals for each child in their personal account on the egov.kz portal.
Kazakhstanis who turn 18 in 2024 can independently check the receipt of funds for the TSA through their personal account on the UAPF Internet resource and (or) the “electronic government” web portal.
Statistical reports on accruals by age and regions of the republic are posted on the website enpf.kz.
Detailed information on payments of targeted savings in order to improve housing conditions and (or) pay for education in the context of authorized operators and regions can be found on the website enpf.kz.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz).
The competent authorities in the Republic of Kazakhstan (hereinafter referred to as the RK) for confirming the work experience of workers within the framework of the Agreement on pension provision for workers of the member states of the Eurasian Economic Union of December 20, 2019 have determined:
1) The Committee of the Ministry of Labor and Social Protection of the Population of the Republic of Kazakhstan and its territorial divisions - in terms of confirming the work experience of workers acquired before 1998;
2) territorial divisions of the UAPF - in terms of confirming the work experience of workers since January 1, 1998 (according to the information system on the transfer of compulsory pension contributions).
Detailed information is available on the website enpf.kz in the “Services” section.
At the same time, before the transition to the use of the integrated system of the Eurasian Economic Union (hereinafter referred to as the EAEU), interaction between the competent authorities of the EAEU member states is carried out in paper form through the exchange of forms provided for in paragraph 3 of the Interaction Procedure, as well as documents necessary for the assignment and payment of pensions.
Thus, in order to confirm the work experience acquired by citizens of the EAEU member states on the territory of the Republic of Kazakhstan, in order for the right to arise in accordance with the legislation of the EAEU member state for which the applicant is applying for a pension, the competent authority of this EAEU member state must send the form “ Request" about the length of service in relation to such persons, depending on the period of work experience, to the above competent authorities of the Republic of Kazakhstan.
The provisions of the Social Code define an exhaustive list of grounds for making benefit payments of pension savings from the UAPF, including in connection with the death of the beneficiary (for funeral and (or) heirs). Consequently, the amounts of pension savings are subject to accounting by the UAPF until the amount is claimed by the beneficiary or his/her heir(s).
At the same time, in accordance with the Civil Code of the Republic of Kazakhstan, if there are no heirs by will and by law, or if none of the heirs has the right to inherit, or they all refused the inheritance, the inheritance is recognized as escheated property and becomes communal property at the place where the inheritance was opened.
Thus, an inheritance can be recognized as escheatable property only by a court decision on the basis of an application from local executive bodies of cities of republican significance, the capital, districts, cities of regional significance at the place of opening of the inheritance after one year from the date of opening of the inheritance.
the Republic of Kazakhstan.
The competent authorities in the Republic of Kazakhstan (hereinafter referred to as the RK) for confirming the work experience of workers within the framework of the Agreement on pension provision for workers of the member states of the Eurasian Economic Union of December 20, 2019 have determined:
1) The Committee of the Ministry of Labor and Social Protection of the Population of the Republic of Kazakhstan and its territorial divisions - in terms of confirming the work experience of workers acquired before 1998;
2) territorial divisions of the UAPF - in terms of confirming the work experience of workers since January 1, 1998 (according to the information system on the transfer of compulsory pension contributions).
Detailed information is available on the website enpf.kz in the “Services” section.
At the same time, before the transition to the use of the integrated system of the Eurasian Economic Union (hereinafter referred to as the EAEU), interaction between the competent authorities of the EAEU member states is carried out in paper form through the exchange of forms provided for in paragraph 3 of the Interaction Procedure[1], as well as documents necessary for the assignment and payment of pensions.
Thus, in order to confirm the work experience acquired by citizens of the EAEU member states on the territory of the Republic of Kazakhstan, in order for the right to arise in accordance with the legislation of the EAEU member state for which the applicant is applying for a pension, the competent authority of this EAEU member state must send the form “ Request" about the length of service in relation to such persons, depending on the period of work experience, to the above competent authorities of the Republic of Kazakhstan.
The provisions of the Social Code define an exhaustive list of grounds for making benefit payments of pension savings from the UAPF, including in connection with the death of the beneficiary (for funeral and (or) heirs). Consequently, the amounts of pension savings are subject to accounting by the UAPF until the amount is claimed by the beneficiary or his/her heir(s).
At the same time, in accordance with the Civil Code of the Republic of Kazakhstan, if there are no heirs by will and by law, or if none of the heirs has the right to inherit, or they all refused the inheritance, the inheritance is recognized as escheated property and becomes communal property at the place where the inheritance was opened.
Thus, an inheritance can be recognized as escheatable property only by a court decision on the basis of an application from local executive bodies of cities of republican significance, the capital, districts, cities of regional significance at the place of opening of the inheritance after one year from the date of opening of the inheritance.
the Republic of Kazakhstan.
The right to transfer pension savings to IPM trust management can be used by contributors of compulsory pension contributions (CPC), individuals for whom compulsory occupational pension contributions (COPC), voluntary pension contributions (VPC) are transferred, in an amount not exceeding:
- fifty percent of the amount of pension savings in the individual pension savings account (IPSA) of the CPC contributor, an individual for whom COPC are transferred, as of the date of receipt of this person’s application for (on) selection (change) of IPM. Upon subsequent transfer to IPM trust management, the amount of pension savings is determined taking into account previously transferred pension savings, taking into account IPM investment income (application must be submitted no more than once a year from the date of transfer of pension savings to IPM trust management);
Or
- not exceeding the amount of pension savings at the expense of CPC and (or) COPC on their individual pension insurance in the case of a concluded pension annuity agreement with an insurance organization;
- the amount of pension savings generated at the expense of VPC, subject to transfer to trust management of IPM, does not exceed the amount of available pension savings on the IPSA for VPC accounting.
Before transferring part of your pension savings to IPM trust management, it is recommended that you familiarize yourself with the current list of IPMs on the market, study their investment declarations on the UAPF website, reviews of investment activities, and learn more about the experience and performance results of the selected private company. You can get information about IPM and study their investment declarations on the website www.enpf.kz in the “Services” section - “Register of investment portfolio managers”. Detailed statistics on the transfer of pension savings to IPM trust management are also available on the website www.enpf.kz in the “Indicators” section - “Transfer of pension savings to management companies.”
We also note that pension savings can be transferred from one IPM to another no more than once a year. If you decide to return your savings to the management of the National Bank of the Republic of Kazakhstan (hereinafter referred to as the NBRK), this can be done no earlier than 1 year from the date of transfer of pension savings to IPM trust management.
Moreover, if pension savings were transferred several times to trust management of the same IPM in accordance with the application for the selection of IPM, then the return of pension savings to trust management of the NBRK is carried out no earlier than one year from the date of the initial transfer of pension savings to IPM trust management.
Foreigners and stateless persons who have pension savings in the UAPF and who have left Kazakhstan can receive pension savings in full (minus individual income tax) before retirement age. To do this, they need to provide the fund (in person, by mail, or through an attorney or legal representative) with a package of documents, which can be found on the UAPF website. After this, pensions will be paid in a lump sum within ten working days.
Kazakh citizens who have retired due to long service can also use all their pension savings to improve their living conditions and (or) pay for medical treatment, namely:
- military personnel;
- employees of special government and law enforcement agencies;
- employees of the state courier service and other persons who have a length of service in military service, service in special state and law enforcement agencies, state courier service of at least 25 years and have reached the age limit established by law upon dismissal from service.
The full list of persons entitled to receive pension payments for long service is determined by Article 212 of the Social Code. To receive lump sum pension benefits to improve their living conditions, long-service pensioners can contact Otbasy Bank or other second-tier banks. To pay for medical treatment - only at Otbasy Bank.
At the same time, Kazakhstanis who have entered into a pension annuity agreement with a life insurance company can use all their pension savings early for housing and medical treatment, thereby ensuring that they receive monthly pension benefits of at least 70 percent of the subsistence level. A complete list of persons entitled to transfer pension savings to an insurance organization and the required package of documents for this is also listed on the official website of the fund.
We also inform you that persons who have pension savings in the UAPF, formed through compulsory pension contributions (CPC), can use part of their pension savings to improve their living conditions and pay for medical treatment:
- whose amount of pension savings exceeds the minimum sufficiency threshold. At the same time, a one-time pension payment cannot exceed the difference between the amount of pension savings at the expense of CPC and (or) compulsory occupational pension contributions of the contributor (beneficiary) and the established minimum sufficiency threshold;
- accomplished pensioners who have savings in the UAPF. They can use up to 50 percent of the remaining amount for housing and/or medical treatment, but only if their total pension (including old-age pension, basic pension and benefit payments from the Unified Accumulative Pension Fund) is at least 40 percent of their previously received salary.
As of April 1, 2024, pension savings in the amount of KZT18.9 trln were formed on individual and conditional accounts of contributors (beneficiaries) of UAPF JSC. Since the beginning of this year, their increase as of April 1, 2024 amounted to about KZT1.02 trln (5.7%). Compared to the same date last year, the volume of pension savings increased by almost KZT3.5 trln or 22.6%.
The volume of pension contributions for 3 months of 2024 amounted to KZT623.6 bln, which is 27.9% or more than KZT136.2 bln higher than last year. It should be noted that an increase compared to the same period last year was demonstrated by compulsory pension contributions (CPC) - 20.2%, compulsory occupational pension contributions (COPC) - 22.1%, voluntary pension contributions (VPC) - 41.2%.
96.6% of the savings of Kazakhstanis were formed through CPC, the volume of which as of April 01, 2024 amounted to more than KZT18.2 trln (an increase for the year - 22.3%, since the beginning of the year - 5.5%). The amount of pension savings under COPC amounted to KZT599.7 bln, having increased by 25.8% over the year, and by 5.5% since the beginning of this year. The maximum increase (49% for the year, 11.3% since the beginning of the year) was shown by savings for voluntary pension contributions (VPC), the volume of which amounted to KZT5.9 bln.
From January 1, 2024, additional funds will be transferred to the pension accounts of contributors (beneficiaries) - employer compulsory pension contributions (ECPC). For 3 months of 2024, the amount of pension savings through the ECPC amounted to about KZT37.5 bln.
Net investment income accrued to individual and notional pension savings accounts of UAPF contributors since the beginning of the year amounted to about KZT569.5 bln.
Outgoing flows in the form of payments from the Unified Accumulative Pension Fund for 3 months of this year amounted to about KZT193 bln. At the same time, the bulk of this amount is made up of lump-sum pension benefits (LSPB) for improving housing conditions and treatment - about KZT83.7 bln, which is 2.4 times higher than last year.
Pension benefits in connection with reaching retirement age amounted to about KZT44.6 bln.
Inheritance payments were also made - KZT13 bln, benefit payments in connection with leaving for permanent residence outside the Republic of Kazakhstan - KZT7.7 bln, benefit payments to persons with disabilities - KZT790.3 mln, burial payments - KZT2.5 bln. An amount of about KZT40.8 bln was transferred to insurance organizations.
Note that the average monthly benefit payment according to the schedule from the Unified Accumulative Pension Fund (in connection with reaching retirement age) was 33,985 tenge, and the maximum amount was 945,752 tenge. Let us remind you that for the same period last year, the average monthly payment according to the schedule from the Unified Accumulative Pension Fund was 32,082 tenge, and the maximum monthly pension benefit payment amount was 742,692 tenge.
The number of individual pension savings accounts of contribustors (IPSA) in the UAPF as of April 1, 2024 is 12.4 million units, of which: 11.1 million - according to CPC, 671.1 thousand - according to COPC, 409.8 thousand - according to VPC.
The number of notional pension savings accounts (NPSA) in the UAPF as of April 1, 2024, which takes into account information about received ECPC and other income in accordance with the legislation of the Republic of Kazakhstan, amounted to more than 3.4 million units.
All relevant information on statistical data on pension assets, including by region of the republic, is posted on the enpf.kz website in the “Indicators” section.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz).
UAPF JSC (hereinafter referred to as UAPF) presents a report on the management of pension assets by the National Bank of the Republic of Kazakhstan (hereinafter referred to as NBRK) and investment portfolio managers (hereinafter referred to as IPM) on the website enpf.kz in the section “Indicators - Investment activities”.
The total volume of pension assets as of April 1, 2024 amounted to KZT18,852.6 bln. As of April 1, 2024, pension assets (hereinafter referred to as PA) of the UAPF, which are in trust management of the NBRK, formed through compulsory pension contributions (hereinafter referred to as CPC), compulsory occupational pension contributions (hereinafter referred to as COPC), voluntary pension contributions (hereinafter referred to as VPC) amounted to KZT18,807.36 bln. The volume of pension assets of the NBRK, formed at the expense of employer compulsory pension contributions (hereinafter referred to as PA ECPC), which are in trust management of the NBRK - KZT36.7 bln.
Pension assets managed by IPM amounted to more than KZT45.24 bln.
Investment portfolio of pension assets managed by the NBRK
The main directions for investing pension assets of the NBRK, formed at the expense of CPC, COPC, VPC, as of April 1, 2024 are as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan - 46.69%, bonds of quasi-public companies - 9.72%, bonds of second-tier banks of the Republic of Kazakhstan - 4.25%, deposits of the National Bank of Kazakhstan - 2.41%, government securities of foreign states - 2.22%, microfinance organizations - 2.06%, shares and depositary receipts of issuers of the Republic of Kazakhstan - 1.98%.
The investment portfolio by currencies in which financial instruments purchased through CPC, COPC, VPC are denominated, as of April 1, 2024, looks like this: investments in national currency - 66.81%, in US dollars - 33.16% portfolio of pension assets.
From the analysis of the structure of income received, it follows that income in the form of remuneration on securities, including on placed deposits and reverse repo operations and from market revaluation of securities, amounted to KZT452.88 bln, for assets under external management - KZT183.17 bln. The revaluation of foreign currency was negative and amounted to KZT53.29 bln. Other losses amounted to KZT1.45 bln.
Due to the diversification of the investment portfolio of pension assets by instruments, industries and currencies, the total income for January-March 2024 is positive.
As a result of investment activities, as well as due to the volatility of foreign exchange rates and changes in the market value of financial instruments, the amount of accrued investment income for 3 months of 2024 amounted to KZT581.31 bln.
The return on UAPF pension assets distributed to the accounts of contributors (beneficiaries) as of April 01, 2024 from the beginning of the year amounted to 3.15%.
ECPC PA investment directions as of April 1, 2024 are as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan - 74.50%, repo transactions - 18.13%, NBRK deposits - 6.14%, cash in investment accounts - 1.23 %.
The ECPC PA investment portfolio includes only financial instruments denominated in national currency.
The amount of accrued investment income under ECPC PA as of April 1 from the beginning of 2024 amounted to KZT333.62 mln. The ECPC PA yield was 1.37%.
Let us recall that in the medium and long term, a positive real (exceeding accumulated inflation) return on pension savings is ensured.
The detailed structure of the investment portfolio of financial instruments managed by the National Bank of Kazakhstan, indicating issuers and an overview of investment activities are posted on the official website of the UAPF. Also on the website enpf.kz there is information about the structure of the portfolio of pension assets formed at the expense of the ECPC.
Investment Portfolio Managers
The total volume of pension assets managed by IPM is more than KZT45.24 bln.
As of April 1, 2024, pension assets under trust management of Jusan Invest JSC amounted to more than KZT7.8 bln.
The company's main investments: government securities of the Ministry of Finance of the Republic of Kazakhstan - 34.34%, shares of Exchange Traded Funds (ETF) - 25.64%, REPO - 18.39%, bonds of second-tier banks of the Republic of Kazakhstan - 7.93%, government securities of foreign countries - 7, 42% of the portfolio. Note that 65.34% of the portfolio is presented in tenge, 34.66% in US dollars.
As a result of investment activities, as well as due to the volatility of foreign exchange rates and changes in the market value of financial instruments for the first 3 months of 2024, the amount of accrued investment income amounted to 231.59 million tenge. The return on pension assets was 3.07%.
The detailed structure of the investment portfolio of financial instruments managed by Jusan Invest JSC, indicating the issuers, is presented on the UAPF website.
As of April 1, 2024, pension assets under trust management of Halyk Global Markets JSC amounted to more than KZT3.8 bln.
The main investments in the portfolio structure are as follows: “reverse repo” (no more than 90 calendar days) - 39.86%, bonds of quasi-public organizations of the Republic of Kazakhstan - 11.25%, corporate bonds of foreign issuers - 8.94%, equity instruments of foreign issuers (Units ETF) - 7.04%, IFO bonds - 6.85%, cash in accounts - 6.77%, bonds of second-tier banks of the Republic of Kazakhstan - 5.53%. Investments in national currency amounted to 70.52% of the portfolio, in US dollars - 29.48%.
As a result of investment activities, the amount of accrued investment income since the beginning of 2024, as of April 1, 2024, amounted to KZT63.90 mln. The return on pension assets was 1.70%.
The detailed structure of the investment portfolio of financial instruments managed by Halyk Global Markets JSC, indicating the issuers, is presented on the UAPF website.
As of April 1, 2024, the pension assets of the UAPF, which are in the trust management of BCC Invest JSC, amounted to more than KZT4.1 bln.
Main areas of investment: bonds of quasi-public organizations of the Republic of Kazakhstan - 25.44%, REPO - 18.96%, shares (ETF on indices) - 13.82%, government bonds of the Republic of Kazakhstan - 12.60%, bonds of second-tier banks of the Republic of Kazakhstan - 7.94 %, corporate bonds of foreign issuers - 7.32%, IFO bonds - 4.51%, US government bonds - 3.46% of the portfolio. 74.50% of the portfolio was invested in instruments in national currency, and 25.50% in US dollars.
As a result of investment activities for the first 3 months of 2024, the amount of accrued investment income amounted to KZT74.48 mln. The return on pension assets was 1.79%.
The detailed structure of the investment portfolio of financial instruments managed by BCC Invest JSC, indicating the issuers, is presented on the UAPF website.
As of April 1, 2024, the pension assets of the UAPF, which are in the trust management of Centras Securities JSC, amounted to about KZT1.2 bln.
29.76% of assets were invested in government securities of the Ministry of Finance of the Republic of Kazakhstan, repo - 27.54%, bonds of quasi-public organizations - 15.61%, shares and depositary receipts of issuers of the Republic of Kazakhstan - 8.61%, bonds of second-tier banks of the Republic of Kazakhstan - 7%, US government bonds – 6.79%. 77.06% of the portfolio was invested in instruments in national currency, in US dollars - 21.03%, in Canadian dollars - 1.91%.
As a result of investment activities and changes in the market value of financial instruments, the amount of accrued investment income as of April 1 from the beginning of 2024 amounted to KZT51.75 m;n. The return on pension assets was 4.45%.
The detailed structure of the investment portfolio of financial instruments managed by Centras Securities JSC, indicating the issuers, is presented on the UAPF website.
As of April 1, 2024, pension assets held in trust by Halyk Finance the Subsidiary of the HalykBank of Kazakhstan JSC amounted to approximately KZT28.9 bln.
The main investments in the portfolio structure look like this: “reverse repo” (no more than 90 calendar days) – 50.31%, bonds of quasi-public organizations of the Republic of Kazakhstan – 9.92%, corporate bonds of foreign issuers – 8.90%, shares Exchange Traded Funds (ETF) - 7.71%, government securities of foreign countries - 6.58%, microfinance organizations - 4.64%, bonds of second-tier banks of the Republic of Kazakhstan - 3.39%.
73.63% of the portfolio was invested in instruments in national currency, 26.18% in US dollars, 0.19% in euros.
As a result of investment activities, the amount of accrued investment income as of April 1 from the beginning of 2024 amounted to KZT483.40 mln. The return on pension assets was 2.06%.
The detailed structure of the investment portfolio of financial instruments managed by Halyk Finance the Subsidiary of the HalykBank of Kazakhstan JSC, indicating the issuers, is presented on the UAPF website.
Let us remind you that from July 1, 2023, contributors can transfer into trust management no more than 50% of pension savings at the expense of compulsory pension contributions (CPC) and compulsory occupational pension contributions (COPC), without taking into account the minimum adequacy threshold for investment portfolio managers (IPM), by choosing such a company yourself. Contributors who have voluntary pension savings can transfer them to IPM in the amount of 100%.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz).
In the period from January 01, 2024 until March 31, 2024, the Unified Accumulative Pension Fund provided over 18.7 million services to the population. Of the transactions carried out, more than 6.1 million were carried out in electronic format, 12.1 million in automatic format, and more than 180 thousand in remote format. More than 296 thousand services were provided in person, including more than 279 thousand directly in the offices of the Fund.
As you know, the main operations of the UAPF, such as opening accounts and making many types of payments, are carried out automatically. The number of such services is growing steadily. In the first three months of 2024, the total number of open individual pension savings accounts (IPSA) for all types of pension contributions, including notional pension accounts (opened as a result of the transfer of ECPC by the employer) and target savings accounts (TSA - within the framework of the National Fund for Children program) exceeded 3.8 million. Target requirements of participants in the National Fund for Children program and payments to recipients of target savings are also taken into account in an automatic format.
Receiving a statement from an individual pension savings account is still a popular service. Since the beginning of the year, more than 6.9 million statements have been issued from the IPSA/NPSA/TSA, of which 5.4 million are in electronic form and more than 1.2 million in automatic mode.
During the reporting period, 90.9 thousand applications for lump sum pension benefits were accepted automatically. Of these, 63.6 thousand are for improving living conditions, 27.3 thousand are for paying for medical treatment.
The UAPF reminds that in the personal account on the website and in the mobile application, contributors (beneficiaries) have the opportunity to use services such as making changes and additions to their details, bank details, obtaining a certificate of availability of an individual pension savings account, submitting an application for the assignment of pension benefits in connection with establishing disability of group 1 or 2 indefinitely or through voluntary pension contributions, tracking the status of an application for payment, transferring part of the savings to an investment portfolio manager (IPM), predictive calculation of a future pension using a pension calculator, transfer of voluntary pension contributions, etc. 24/7 anywhere in the world.
For January-March 2024, more than 64.2 thousand applications were accepted to change details, of which 56.3 thousand were received at the Fund’s offices. When turning to UAPF specialists for a particular service, contributors, as a rule, receive additional consultations and advice on creating savings.
В рамках информационно-разъяснительной работы проведены более 8,4 тыс. выездных презентаций, на которых присутствовали 187 тыс. человек. В средствах массовой информации были размещены более 9,7 тыс. материалов по сообщениям ЕНПФ.
The number of contributor requests received through feedback channels amounted to more than 180 thousand.
Let us remind you that any company can apply for a presentation and consultation on the funded pension system with a visit to the office, for which you just need to call the call center at 1418 or contact through the Fund’s website or mobile application.
Consulting services of the UAPF can be obtained through messengers (chat bot on WhatsАpp and Viber at +7 777 000 14 18), call center at 1418 (calls within Kazakhstan are free), on the corporate website enpf.kz, as well as on official pages UAPF on social networks Instagram, Facebook, VKontakte, X, Telegram, Odnoklassniki.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz).