INFORMATION MESSAGE
Kazakhstan's pension savings have increased by 879 billion tenge since the beginning of the year
Key indicators of Unified accumulative pension Fund JSC as of April 1, 2020
Pension assets of JSC "UAPF", one of the most important financial institutions in Kazakhstan, increased by 879 billion tenge in the first quarter of 2020. Thus, the pension savings of our citizens exceeded 11.7 trillion tenge, the growth since the beginning of 2020 was 8 %.
The main amount of pension savings was formed on mandatory pension contributions (OPV) and amounted to 11.4 trillion tenge, increasing by 21% over the past 12 months. The amount of pension savings in the mandatory occupational pension contributions (oppv) it amounted to 272.3 billion tenge (an increase of 30%), the amount of pension savings on voluntary pension contributions exceeded 2 billion tenge (an increase of 10 %).
It should be noted that the total number of individual pension accounts for all types of contributions of UAPF JSC exceeded 10 million, or more precisely, 10,698,980 units. Growth since April last year was 3%. Most of the IPS is still made up of mandatory pension contributions-10.1 million, followed by mandatory professional pension contributions – 514.8 thousand accounts. Voluntary pension contributions continue to grow steadily, with 55,371 accounts in the UAPF as of April 1, 2020.
In the first quarter of 2020, depositors ' accounts received pension contributions in the total amount of 261.9 billion tenge, which exceeded the figures for the first 3 months of 2019 by 19%. Payments amounted to 45 billion tenge, most of which were for age payments (16.7 billion tenge), for permanent residence outside the Republic of Kazakhstan (11.6 billion tenge), transfers to insurance organizations (8.4 billion tenge), heirs (7.1 billion tenge), burial (0.8 billion tenge).
It should be emphasized that since the beginning of 2020, as of April 1, more than 661.7 billion tenge of investment income has been accrued to the accounts of UAPF depositors, which is 564.8 billion tenge more than in the same period last year. Recall that for the first quarter of 2019, net investment income amounted to only 96.9 billion tenge. However, it is important to remember that as a result of investment activity, due to the volatility of foreign exchange rates and changes in the market value of financial instruments, the amount of accrued investment income can always vary, and it must be considered in the long term.
As we can see even when comparing the two indicators of 2019 and 2020, investment income is not a fixed amount, depending on the cost of financial instruments and the situation in the financial market as a whole. Therefore, a possible temporary decrease in the amount of investment income due to individual financial instruments in the future is compensated by diversifying the entire investment portfolio of pension assets over a longer period.