As part of the implementation of the Corporate Development Strategy of UAPF JSC for 2022-2026, which includes, among other things, tasks for further improvement of pension services taking into account the introduction of a proactive format, UAPF JSC, to help the contributor, is launching a new tool for planning a future pension - a personal pension savings plan.
Unlike the forecast pension calculator, which can be used to calculate the expected size and schedule of pension payments based on the current volume of pension savings and future contributions, a personal plan allows the user to independently:
- calculate the required amount of contributions based on the desired amount of pension benefits, taking into account the current volume of pension savings,
- monitor the execution of the personal savings plan (through a system of automated personal notifications).
The estimated calculation of the future total pension includes the following pension components within the framework of the multi-level pension system of Kazakhstan:
- 10% of compulsory pension contributions (CPC), paid from the income of employees to the UAPF.
- 5% of compulsory occupational pension contributions (COPC), transferred by the employer to the UAPF in favor of workers employed in jobs with hazardous working conditions.
The service for planning a future pension is available in your personal account on the UAPF website, upon entering which the user will receive a one-time notification about the opportunity to use this service. You can find more detailed information about the service and how to use it in the user manual for the personal pension savings plan, located at the top of the screen when logging into this service.
The contributor can control the process of execution of his pension plan, that is, track the receipt of CPC, COPC and VPC, as well as the status of plan execution in percentage and monetary terms by month and year, in order to timely take measures to implement the plan, for example, to replenish the missing amount of pension savings for voluntary pension contributions account.
If necessary, the contributor can change the input parameters of the personal plan at any time, for example, indicate a different amount of the desired pension and create a new plan.
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)