Key indicators of the UAPF as of March 1, 2024
As of March 1, 2024, pension savings in the amount of KZT18.5 trln were formed on individual and conditional accounts of contributors (beneficiaries) of the Unified Accumulative Pension Fund. Since the beginning of the year, their increase as of March 1, 2024 amounted to over KZT641 bln (3.6%). Compared to the same date last year, the volume of pension savings increased by almost KZT3.4 trln or 22.3%.
The amount of pension contributions for 2 months of 2024 amounted to KZT414.9 bln, which is 29.8% or more than KZT95.2 bln higher than last year. It should be noted that an increase compared to the same period last year occurred in compulsory pension contributions (CPC) - 23.8%, compulsory occupational pension contributions (COPC) - 22.9%, voluntary pension contributions (VPC) - 66.8%
97% of the savings of Kazakhstanis were formed through CPC, the volume of which as of March 01, 2024 amounted to about KZT17.9 trln (an increase for the year - 22%, since the beginning of the year - 3.5%). The amount of COPC pension savings came to KZT589.9 bln, having increased by 26.5% over the year, and by 3.8% since the beginning of this year. The largest increase (49.9% for the year, 8% since the beginning of the year) was shown by savings on voluntary pension contributions (VPC), the volume of which amounted to KZT5.7 bln.
From January 1, 2024, additional funds began to be received into the pension accounts of contributors (beneficiaries) - employer compulsory pension contributions (ECPC). For 2 months of 2024, the amount of pension savings due to ECPC amounted to more than KZT19.2 bln.
Net investment income accrued to individual and conditional pension savings accounts of UAPF contributors since the beginning of the year amounted to about KZT343.6 bln.
Outgoing flows in the form of pension benefits from the Unified Accumulative Pension Fund since the beginning of the year as of March 1, 2024 amounted to about KZT130.8 bln. At the same time, a significant part of this amount consists of lump-sum pension benefits (LSPB) for improving housing conditions and medical treatment - more than KZT57.4 bln, which is 2.6 times higher than last year.
Payments in connection with reaching retirement age amounted to more than KZT31.1 bln.
Inheritance benefits were also paid - KZT9.2 bln, benefit payments in connection with leaving for permanent residence outside the Republic of Kazakhstan - KZT5.6 bln, pension benefit payments to persons with disabilities - KZT558 mln, burial payments - KZT1.8 bln. About KZT25.2 bln were transferred to insurance organizations.
Note that the average monthly pension benefit payment according to the schedule from the Unified Accumulative Pension Fund (in connection with reaching retirement age) was KZT34,075, and the maximum amount of the monthly pension benefit was KZT945,752. Let us recall that for the same period last year, the average monthly payment according to the schedule from the Unified Accumulative Pension Fund was KZT32,065, and the maximum monthly payment amount was KZT742,692.
The number of individual pension savings accounts of contributors (IPSA) in the UAPF as of March 1, 2024 is 12.4 million units, of which: 11.1 million - for CPC, 659.4 thousand - for COPC, 407.2 thousand - for VPC.
The number of notional pension savings accounts (NPSA) in the UAPF as of March 1, 2024, which takes into account information about received ECPC and other income in accordance with the legislation of the Republic of Kazakhstan, amounted to more than 3.05 million units.
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)