The net investment income accrued to the accounts of UAPF contributors for the period from January to March 2023 amounted to KZT336.3 billion, which exceeds the figures for the same period last year by KZT44.6 billion or 13%. The yield on UAPF pension assets managed by the National Bank of Kazakhstan over the past 12 months amounted to 6.63%.
Recall that investment income consists of income in the form of interest on financial instruments (deposits, reverse REPO operations, coupon or discount, dividends on shares), income in the form of market revaluation of securities, foreign currency, other assets, income on assets located in external management, etc.
Investment income provided by the National Bank of the Republic of Kazakhstan since 2014 (completion of the merger of all pension assets into the UAPF) amounted to KZT7.4 trillion. At the same time, investment income since the foundation of the accumulative pension system itself in 1998 as of April 1, 2023 exceeded KZT8.1 trillion, and the accumulated investment return for the entire period with an accruing total amounted to 751.1%, and cumulative inflation amounted to 702.96%.
Recall that pension savings are long-term investments and it is advisable to analyze the amount of investment income for a period of at least 1 (one) year. Short-term data (weekly, monthly, etc.) is not indicative, because subject to constant market fluctuations.
The entire system for managing investments and accounting for pension assets is accessible and transparent: contributors have the opportunity to monitor the dynamics of their investment income in their personal account on the enpf.kz website or in a mobile application. Revaluation of pension assets is carried out weekly and on the last day of the month.
Information on investment management of UAPF pension assets and financial instruments in which UAPF pension assets are placed is published on the official website of UAPF (www.enpf.kz ) in the section “Indicators/Investment activity”.
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)