Pension savings of Kazakhstanis exceeded 11 trillion tenge

Key indicators of the Unified accumulative pension Fund JSC

as of March 1, 2020

Pension assets of UAPF JSC, one of the most important financial institutions in Kazakhstan, increased by 283 billion tenge in the first two months of operation in 2020. Thus, the pension savings of our citizens have reached over 11 trillion, an increase of 3% in two months.

The main amount of pension savings was formed by mandatory pension contributions (OPV) and amounted to 10.8 trillion tenge, an increase of 17% over the past 12 months. The amount of pension savings for mandatory professional pension contributions (OPV) it amounted to 257 billion tenge (an increase of 25%), the amount of pension savings on voluntary pension contributions (DPA) amounted to almost 2 billion tenge (an increase of 6%).

Note that the total number of individual pension accounts for all types of contributions of UAPF JSC exceeded 10 million, or rather - 10,498,852 units (excluding technical contracts: without IIN, in the absence of full details). Growth since March last year was 3%. Most of the IPS is made up of mandatory pension contributions – 9.9 million (an increase of 3%), followed by mandatory professional pension contributions – 514 thousand accounts (an increase of 6%). The largest increase is observed for voluntary pension contributions. as of March 1, 2020, the UAPF has 55,221 accounts for DPA, which is 12% higher than in 2019.

It is important to mention the work of the UAPF under so-called technical agreements, which include the IPS of unidentified depositors (recipients) who do not have an individual identification number (IIN), as well as incorrect details in the last name, first name, patronymic and date of birth (IPS without IIN). From March 1, 2019 to March 1, 2020, the UAPF employees managed to identify more than 20 thousand such accounts, and reduce their total number by 11%. Thus, as of March 1 of this year, the UAPF has 186.8 thousand technical contracts.

Average savings on individual pension accounts of depositors (recipients) under OPV (excluding technical contracts) amounted to 1.11 million tenge, which is 12% higher than the same indicator last year.

The accounts of depositors received pension contributions in the total amount of 175.2 billion tenge for 2 months of 2020, which exceeded the figures for the first 2 months of 2019 by 20%. Payments amounted to 32.1 billion tenge, most of which were made for age payments (12.2 billion tenge), for permanent residence outside the Republic of Kazakhstan (8.4 billion tenge), transfers to insurance organizations (5.4 billion tenge), heirs (5.2 billion tenge). Net investment income was credited to the accounts of depositors (recipients) in the amount of 139.9 billion tenge.