ANNOUNCEMENT
Pension savings of Kazakhstanis exceeded 13 trillion tenge
Key indicators of the UAPF as of October 1
As of October 1, 2021, pension savings in the amount of more than 13.1 trillion tenge were formed on the accounts of the contributors of the Unified Accumulative Pension Fund. For the year, from 01.10.2020 to 01.10.2021, the amount increased by 569.5 billion tenge, or 5%.
The main amount of pension savings was formed at the expense of compulsory pension contributions (CPC) and amounted to 12.7 trillion tenge (growth over the past 12 months was 4%). The amount of pension savings on compulsory occupational pension contributions (COPC) amounted to 349.5 billion tenge (an increase of 16%), the amount of pension savings on voluntary pension contributions (VPC) amounted to 1.6 billion tenge.
For nine months of 2021, UAPF contributors contributed more funds than in the same period last year. As of October 1, 2021, pension contributions in the total amount of 1.2 trillion tenge were received on the accounts of contributors, which significantly exceeded the figure for the same period in 2020 by 439.5 billion tenge or 57%. Of the total amount of contributions, 95.7% are receipts to the UAPF through CPC - 917.4 billion tenge (an increase of 24% over the last 12 months), COPC - 41.2 billion tenge (an increase of 17%), 496 million tenge (an increase of 41 %) was listed for VPC.
In addition to the contributions of the contributors themselves, a significant increase in pension savings was ensured thanks to the net investment income, which exceeded 1 trillion tenge from January 1 to October 1, 2021, which is slightly higher than the indicators of the no less successful last year, or rather by 7 billion tenge or 1%. The return on pension assets of the UAPF under the management of the National Bank of the Republic of Kazakhstan since the beginning of the year has not been 8.89%, with inflation of 6.2%. At the same time, the profitability for the last 12 months was 10.08%, while inflation for the same period was 8.9%.
The number of individual pension saving accounts in the UAPF as of October 1, 2021 amounted to 11.7 million units. The largest number of accounts was opened for compulsory pension contributions (CPC) - 10,909,456 units. Next are the accounts formed at the expense of the COPC, 534,067 units, the number of accounts due to the VPC in the UAPF is now 54,013 units.
Since the beginning of the year, the UAPF paid out more than 2.1 trillion tenge to contributors, most of which were lump-sum pension benefits (LPB) - 1.9 trillion tenge. Age benefits - 71.6 billion tenge. This is followed by: transfers to insurance organizations - they amounted to about 47.6 billion tenge, inherited benefits 43.3 billion tenge, in connection with leaving for permanent residence outside the Republic of Kazakhstan 29.1 billion tenge, for burial 4.0 billion tenge and benefit payments for disability 1.6 billion tenge.
It should be noted that the amount of the average monthly benefit according to the schedule (in connection with reaching the retirement age) was 28,525 tenge, and the maximum amount of the monthly pension benefit was 673,643 tenge.
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)