In search of an answer to the question about the size of their future pension, UAPF contributors can use a convenient tool - the Pension Calculator, the capabilities of which have recently been updated with additional functions. Now you can not only independently calculate your approximate future pension, but also receive an update on the calculation of the insurance premium and insurance benefit from the insurance organization and a forecast pension calculator in accordance with the latest changes in the pension legislation of the Republic of Kazakhstan. At the same time, the average life expectancy of persons with disabilities and persons working in hazardous working conditions was taken into account, which made it possible to increase the availability of a pension annuity for them. Also, in accordance with the Social Code, the minimum basic pension will be gradually increased to 70%, and the maximum to 120% of the subsistence level in the period from 2023 to 2027. At the same time, contributors were given the opportunity to transfer up to 50% of their savings, formed through compulsory pension contributions (CPC) and compulsory occupational pension contributions (COPC), into trust management by an investment portfolio manager (IPM).
Let us remind you that the Calculator is presented in two forms. “Current” is a more simplified option, with the help of which those who retire in the coming year can calculate the amount of payment of pension savings formed through compulsory pension contributions. The “forecast” calculator will not just calculate the estimated size of the future pension, but will also show what it consists of and calculate it according to three scenarios: pessimistic, realistic and optimistic, which will help the contributor see all possible options that take into account the expected level of real investment return.
When calculating, the Calculator will take into account all components - basic and PAYG pensions; 10% CPC; 5% COPC and voluntary pension contributions. To obtain the amount of your future pension in the forecast calculator, you need to do a few simple steps - fill in all the fields: date of birth, gender, length of service, length of participation in the funded pension system, enter the amount of savings to date and the average salary for the last time. And to get the result, click on the “Calculate” button. When using the calculator through your personal account, almost all fields will be filled in automatically, and the calculation will be more accurate. If the predicted amount of pension savings exceeds the minimum adequacy threshold, a notification will appear about the possibility of their withdrawal to improve housing conditions or medical treatment. Also, if pension savings are sufficient, the function “Transfer of savings to a life insurance company (LIC)” is provided for contributors to enter into a pension annuity agreement. It is important to remember that the results of pension calculations are preliminary for the current calendar year, and the final calculation will be made when contacting the insurance organization.
You can get acquainted with the “Pension calculator” service in more detail on the website of UAPF JSC https://www.enpf.kz/ru/elektronnye-servisy/calcs.php
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)