ANNOUNCEMENT
For 2 months of 2024, the net investment income of UAPF contributors amounted to KZT343.6 bln
Net investment income accrued to individual and notional pension accounts of UAPF contributors for 2 months of 2024 amounted to about KZT343.6 bln and exceeded the figure for the same period last year by KZT139.1 bln or 68%.
The return on pension assets of the UAPF, formed from compulsory pension contributions (CPC), compulsory occupational pension contributions (COPC), voluntary pension contributions (VPC), distributed to the accounts of contributors (beneficiaries), from the beginning of the year as of March 1, 2024 amounted to 1.91%. The return on pension assets of the UAPF, formed from the employer's compulsory pension contributions (ECPC PA), as of March 1, 2024 from the beginning of the year - 0.11%.
Investment income consists of income in the form of interest on financial instruments (on securities, deposits and other transactions), market and currency revaluation of financial instruments, income on assets under external management, etc. The National Bank of Kazakhstan and investment portfolio managers (IPMs), in order to obtain investment income, place pension assets in reliable financial instruments of different sectors of the economy in various currencies in the Republic of Kazakhstan and abroad. This diversification ensures sustainable investment returns.
In the structure of the investment portfolio of pension assets of the UAPF at the expense of CPC, COPC, VPC by currency as of March 1, 2024, 32.2% are financial instruments denominated in US dollars, 67.8% - in national currency. The investment portfolio of ECPC PA includes only financial instruments denominated in national currency.
Investment returns since the founding of the funded pension system in 1998 as of March 1, 2024, cumulatively amounted to 833.94%, with inflation for the entire period of 770.54%. Thus, the accumulated investment income in the long term exceeds inflation.
Let us remind you that in Kazakhstan there is a unique guarantee of the safety of compulsory pension contributions, taking into account the level of inflation. In cases of a decrease in return in a particular period, which affected the accumulated return of the contributor upon the onset of the right to payments, compensation for the difference is guaranteed by the state.
The entire system of investment management and accounting of pension assets is transparent: each contributor has the opportunity to see his investment income in his personal account on the enpf.kz website or in the mobile application.
Information on the investment management of UAPF pension assets and on the financial instruments in which UAPF pension assets are placed is published on the official UAPF website (www.enpf.kz) in the “Indicators/Investment activities” section.
A lot of interesting and useful information, including interviews with experts of the funded pension system on investing pension assets, is on theБЖЗҚ ЕНПФ YouTube channel.
The UAPF was established on August 22, 2013 on the basis of GNPF APF JSC. The UAPF founder and shareholder 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. UAPF pension assets are managed by the National Bank of the Republic of Kazakhstan. From January 1, 2016, the functions for developing proposals to improve the management of pension assets were transferred to the National Fund Management Council. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, pension benefits, individual accounting of pension accumulations and benefits, provides the contributor (beneficiary) with information on the status of his pension accumulations (for more information visit www.enpf.kz)