As part of public awareness campaign among the population, on September 21, 2023, IAPF JSC will hold an Open Day on the topic “Social Code of the Republic of Kazakhstan. Innovations in the pension system of Kazakhstan”.
At online meeting on the Open Day organized by the IAPF, the Fund’s specialists will tell the participants about what innovations have been introduced in the areas of pension provision in connection with the entry into force of the Social Code from July 1, 2023.
The Social Code of the Republic of Kazakhstan provides for a number of innovations regarding the accumulative pension system of Kazakhstan, concerning the expansion of the rights of depositors to manage their assets, and the use of pension savings for housing and treatment by pensioners who have retired on seniority, an increase in burial payments, compulsory employer pension contributions (OPVR), compulsory nature of pension contributions for all, a reduction in commission remuneration of the IAPF, new rules for receiving lump-sum pensions payments for treatment and housing.
Using practical examples, the employees of the IAPF will explain the mechanism of innovations in an accessible and understandable form, consider each of them in detail and answer questions of interest.
We invite you to an online meeting dedicated to explaining the main provisions of the Social Code regarding the pension provision of Kazakhstanis, all interested people, as well as a representative of the media. We hope it will be useful for journalists to understand and cover the innovations concerning the accumulative pension system, as well as to all participants of the meeting.
The IAPF was established on August 22, 2013 on the basis of NPF SAPF JSC. The founder and shareholder of the IAPF is the Government of the Republic of Kazakhstan represented by the State Property and Privatization Committee of the Ministry of Finance of the Republic of Kazakhstan. Trust management of IAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. Since January 1, 2016, the functions of developing proposals to improve the efficiency of pension asset management have been transferred to the National Fund Management Council. In accordance with the pension legislation, the IAPF attracts compulsory pension contributions, compulsory professional pension contributions, voluntary pension contributions, pension payments, individual accounting of pension savings and payments, provides the depositor (recipient) with information on the status of his pension savings (for more details, see www.enpf.kz).