Key indicators of the UAPF as of September 1
As of September 1, 2021, pension savings in the amount of more than KZT 12.9 trillion were formed on the accounts of the contributors of the Unified Accumulative Pension Fund. For the year, from 01.09.2020 to 01.09.2021, the amount increased by KZT 704 billion, or 6%.
The main amount of pension savings was formed at the expense of compulsory pension contributions (CPC) and amounted to KZT 12.6 trillion (growth over the past 12 months was 5%). The amount of pension savings on compulsory occupational pension contributions (COPC) amounted to KZT 342.6 billion (an increase of 17%), the amount of pension savings on voluntary pension contributions (VPC) amounted to KZT 1.6 billion.
For the full eight months of 2021, UAPF contributors contributed more funds than in the same period last year. As of September 1, 2021, pension contributions in the total amount of KZT 1.1 trillion were received on the accounts of contributors, which exceeded the figure for the same period in 2020 by KZT 397.4 billion, or 58%. Of the total volume of contributions, 95.6% are receipts to the UAPF for CPC - KZT 812.9 billion (growth over the past 12 months - 24%), KZT 36.5 billion (growth of 16%), KZT 432 million (growth 38%) were listed for VPC.
In addition to the contributions of the contributors themselves, a significant increase in pension savings was provided due to net investment income, which from January 1 to September 1, 2021 amounted to KZT 938.9 billion, which exceeds the figures for the same period last year by 8% or KZT 67 billion. The return on pension assets of the UAPF under the management of the National Bank of the Republic of Kazakhstan from the beginning of the year as of September 1 was 7.65%, with inflation of 5.8%. At the same time, the yield for the last 12 months was 10.68%, while inflation for the same period was 8.7%.
The number of individual pension saving accounts in the UAPF as of September 1, 2021 amounted to 11.6 million units. The largest number of accounts was opened for compulsory pension contributions (CPC) - 10,905,014 units. Then there are accounts generated at the expense of COPC - 531 323 units, the number of accounts at the expense of VPC in the UAPF is now 51 645 units.
Since the beginning of the year, UAPF contributors have been paid almost KZT 2.0 trillion, most of the benefits were lump-sum pension benefits (LSB) - KZT 1.8 trillion. The second in terms of the amount of benefits were benefit payments by age – KZT 62.0 billion. This is followed by: transfers to insurance organizations - they amounted to about KZT 44.0 billion, inherited benefits KZT 38.8 billion, in connection with leaving for permanent residence outside the Republic of Kazakhstan – KZT 25.1 billion, for burial - 3.4 billion tenge and disability benefits – KZT 1.4 billion.
It should be noted that the amount of the average monthly benefit according to the schedule (in connection with reaching the retirement age) was KZT 28,568, and the maximum amount of the monthly payment was KZT 673,643.
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)