Key indicators of the UAPF as of October 1, 2023
More than KZT17.2 trillion had been accumulated in the UAPF as of October 1, 2023 in individual accounts of contributors (beneficiaries). Over the year, pension savings increased by more than KZT3.1 trillion (or 22.1%). Since the beginning of the year alone, their increase has amounted to about KZT2.6 trillion (17.5%).
96.78% of the savings of Kazakhstanis was formed through compulsory pension contributions (CPC). As of October 1, 2023, the volume of CPC exceeded KZT16.67 trillion, having increased by 21.9% over the year. The amount of pension savings for compulsory pension contributions (COPC), which employers pay to the pension accounts of workers in hazardous occupations, amounted to KZT549.58 billion, having increased by 30.1% since October 1 of last year, and by 23.4% since the beginning of this year. The maximum annual increase (59.3%) was demonstrated by savings on voluntary pension contributions (VPC), the volume of which amounted to KZT4.92 billion.
The increase in these indicators was due to incoming flows - pension contributions and investment return.
The amount of pension contributions for 9 months of 2023 amounted to KZT1.55 trillion, which is 25.4% or KZT314.4 billion higher than the same period last year. An increase of 25.4% occurred in CPC, as well as in COPC.
Net investment income accrued to individual pension accounts of UAPF contributors since the beginning of the year amounted to about KZT1.4 trillion, which is 91.1% higher than last year’s figure. Let us recall that investment income for 9 months of last year was about KZT716.8 billion.
The number of individual pension saving accounts in the UAPF as of October 1, 2023 was at the level of 12.27 million units, including about 11.06 million for CPC, 630.07 thousand for COPC, 387.7 thousand for VPC.
Since the beginning of the year, the UAPF has paid out about KZT405.66 billion. Benefits for old age exceeded KZT109 billion, which is 25.5% higher than the same period last year. Their share in the total volume of pension benefit payments is about 27%. Lump sum pension benefit payments for improving housing conditions and medical treatment amounted to KZT198.75 billion, which is 77% less than the same period last year. However, the LSPBP's share of total payments is still 49%.
Also, since the beginning of the year, inheritance benefits have been made - more than KZT39 billion, benefit payments in connection with leaving for permanent residence outside Kazakhstan - KZT29.78 billion, disability benefits - KZT2 billion, burial payments - KZT5.14 billion tenge. KZT21.9 billion were transferred to insurance organizations.
The average monthly pension benefit according to the schedule from the UAPF (in connection with reaching retirement age) was KZT32,126, and the maximum monthly benefit amount was KZT742,692. Let us remind you that for the same period last year, the average monthly pension benefit according to the schedule was KZT29,868, the maximum - KZT707,326.
All relevant information on statistical data on pension assets, including by region of the republic, is posted on the enpf.kz website in the “Indicators” section.
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)