Pension accumulations of UAPF contributors exceeded KT 12.2 trln

Pension accumulations of UAPF contributors exceeded KT 12.2 trln

 

 

Pension accumulations of UAPF JSC since the beginning of this year have increased by KZT 1.4 trln or 13%. Thus, as of September 1, 2020, the total amount of pension savings exceeded KZT12.2 trln.

The main amount of pension savings was formed at the expense of compulsory pension contributions (CPC) and amounted to KZT11.9 trln, or 97.6% of the total accumulations. The amount of pension accumulations on compulsory occupational pension contributions (COPC) amounted to KZT 294 bln (2.4%), the amount of pension accumulations on voluntary pension contributions (VPC) exceeded KZT2 bln (0.02%).

Since the beginning of 2020, pension contributions in the total amount of KZT 685.6 bln have been received on contributors' accounts, which exceeded the figure for 8 months of the previous year by 8%.

Benefit payments from the beginning of the year amounted to KZT117.5 bln, most of which accounted for benefit payments due to reaching the retirement age (KZT 39.5 bln), benefit payments due to permanent residence outside the Republic of Kazakhstan (KZT 23.3 bln), transfers to insurance organizations (KZT 31.5 bln), to heirs (KZT19.8 bln), for burial (KZT 2.4 bln).

Since the beginning of 2020, as of September 1, more than KZT871.9 bln of net investment income has been credited to the accounts of the UAPF contributors, which is KZT 443.1 bln more compared to the same period last year. Remind you, that for 8 months of 2019, net investment income amounted to KZT 428.8 bln.

 

 

 

 

 

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)