We calculate the pension before and after one-time pension payments
Each depositor of the Unified Accumulative Pension Fund can independently calculate their future pension payments using the Forecast Pension Calculator on the website enpf.kz. It covers all components of the pension within the multi-level pension system of Kazakhstan: the state basic pension and the old-age pension (or solidary pension), as well as the pension formed at the expense of mandatory pension contributions (OPV), mandatory occupational pension contributions (OPV) and voluntary pension contributions (DPV).
Perform calculations easily and very simply. To do this, you need to fill in all the fields in the forecast calculator, such as date of birth, gender, work experience, amount of savings, etc. If you are registered in your personal account on the site enpf.kz, then the fields in the calculator are filled in automatically and the calculation of the future pension is carried out in just two or three clicks.
Next, you will see the results of calculating your future payments from the UAPF, which are issued in three scenarios: pessimistic, realistic, and optimistic. All three options take into account the expected level of profitability. At the same time, all forecast results are presented in real value terms (minus inflation of the corresponding forecast period). In addition, you will see the age, retirement date, etc.
Note that you can now see the payments according to the changes from April 1, 2021. As previously reported, now the amount of the monthly payment from the UAPF is calculated according to the new Methodology for calculating the amount of pension payments from the UAPF, approved by the Decree of the Government of the Republic of Kazakhstan dated October 2, 2013 No. 1042. In accordance with this Method, the amount of the monthly pension payment in the first year of pension payments is determined by multiplying the amount of pension savings by the pension savings payment rate of 6.5% and dividing by 12. In subsequent years, the amount of the monthly pension payment is determined by an annual increase in the amount of the monthly pension payment for the previous year at the indexation rate of 5%. At the same time, the payment of the calculated amount of the monthly pension payment is carried out in the amount of at least 70 percent of the subsistence minimum established for the corresponding financial year by the law on the republican budget. Recall that pension payments from the UAPF are made until the retirement savings on the individual pension account are exhausted, this can also be seen in the calculations of the pension calculator.
In addition, the pension calculator in your Personal Account provides information about the amount that exceeds the sufficiency threshold and is available for withdrawal in the form of one-time pension payments for improving housing conditions and treatment. At the same time, it is possible to see the amount of your future monthly pension payments with a one-time withdrawal of pension savings for targeted needs. This will clearly help the depositor to independently decide whether to withdraw pension savings at the moment, or to receive much higher pension payments in the future when reaching retirement age.
Also, if the projected amount of pension savings (formed at the expense of OPV, OPV and DPV) is sufficient to reach retirement age, a pop-up window will appear notifying the user about the possibility of concluding a pension annuity agreement with an insurance company and receiving lifetime pension payments. The calculation immediately allows you to find out the estimated amount of the annuity payment from the insurance company, so you can independently compare it with the payments according to the schedule from the UAPF.