5 questions of the EPPF:
I know that all UAPF depositors are charged investment income. How did the quarantine affect it?
Despite the quarantine, most businesses are operating, some of them in remote mode, respectively, individual pension accounts of depositors continue to be replenished. The amount of pension savings of the UAPF is currently close to 12 trillion tenge. As you know, it includes pension contributions and investment income from investing the received funds.
Pension contributions received to individual pension accounts (IPS), which are recorded by the UAPF, are invested by the Trustee of pension assets - the National Bank of the Republic of Kazakhstan - in various financial instruments.
In order to minimize risks, the investment portfolio is diversified by types and areas of investment, including currencies. Currently, about 2/3 of investments are denominated in tenge and about 1/3 - in foreign currency, most of the latter-in US dollars.
The amount of pension savings of depositors (recipients) is recalculated and revalued daily in accordance with the results of investment of pension assets.
Investment income includes income in the form of remuneration for securities (deposits and other transactions), income in the form of market revaluation of financial instruments, income in the form of currency revaluation, income on assets under external management, etc.
Investment income is a variable amount and can be either positive or negative in the short term.
For example, we can consider the accrual of investment income to the accounts of depositors and recipients in 2020.
For the first half of this year, from January 1 to July 1, 2020, net investment income in the amount of 543.3 billion tenge was credited to depositors ' accounts.
In January, net investment income amounted to + 28.15 billion tenge, in February +111.7 billion tenge, in March +521.8 billion tenge, in April-125.6 billion tenge, in may-36.8, in June + 44.05 billion tenge.
Starting from March 2020, the change in the exchange rate of tenge to the us dollar had a big impact on the investment return of pension assets.
During the period of March-June, the us dollar strengthened against the tenge from 381 to 403 tenge per 1 us dollar. The positive currency revaluation of pension assets placed in foreign currency instruments resulted in a significant increase in net investment income for pension assets.
However, please note that pension savings are long-term investments and it is advisable to analyze the amount of investment income for a period of at least 1 (one) year. Short – term data (daily, monthly, etc.) are not indicative, because they depend on the daily market conditions.
Investment income provided by the National Bank for the period of pension assets management from September 2013 to June 2020 amounted to more than 30% of the total amount of pension savings or 3.8 trillion tenge.
The entire system of investment management and accounting of pension assets is transparent: each depositor can see their investment income in their personal account on the site enpf.kz or in the mobile app and at the same time receive information on investment management of pension assets of the UAPF and on financial instruments in which the pension assets of the UAPF are placed, published on the official website of the UAPF (www.enpf.kz) in the "Indicators" section/Investment activity».
At this time, I, like many of our citizens, was left without a job. Accordingly, I have no reason to pay alimony. However, my ex-wife is threatening to sue for debt recovery at the expense of my pension savings. Is it possible?
In accordance with the provisions of paragraph 3 of article 50 of the Law, it is not allowed to seize or foreclose on mandatory pension contributions, mandatory professional pension contributions, penalties, pension assets and pension savings on the debts of the depositor (recipient), NAO "State Corporation "Government for citizens", UAPF, custodian Bank and investment portfolio Manager, including in cases of liquidation and (or) bankruptcy of the listed entities.
In addition, according to subparagraph 14) of article 98 of the Law of the Republic of Kazakhstan "on enforcement proceedings and the status of bailiffs", recovery can not be applied to pension savings on the debts of the depositor (recipient).
Thus, based on the provisions of the above-mentioned regulatory legal acts, it is not allowed to seize or foreclose on the pension savings of the depositor (recipient) formed at the expense of mandatory pension contributions and mandatory professional pension contributions held in the UAPF.
Pension payments from the UAPF to depositors (recipients) are made to the Bank details provided by the depositors (recipients), respectively, after the UAPF transfers pension savings to the Bank details provided by the depositors (recipients), the money is in their Bank accounts opened in the second-level banks of the Republic of Kazakhstan. The UAPF's obligation is considered fulfilled after the money is transferred to the depositor's (recipient's) Bank details.
I have a small IP. Due to the quarantine, I suspended its work, so I do not pay taxes for this period. But I would like to have a retirement experience. Is it possible?
In accordance with article 34 of the Law of the Republic of Kazakhstan "on pension provision in the Republic of Kazakhstan", the UAPF attracts mandatory pension contributions, mandatory professional pension contributions, voluntary pension contributions and ensures the payment of pension savings.
It should be noted that in accordance with article 4 of this Law, the periods for which mandatory pension contributions were made are counted in the length of participation in the pension system when providing the state basic pension payment.
In accordance with Resolution No. 224 " on further measures to implement the Decree of the President of the Republic of Kazakhstan dated March 16, 2020 No. 287 "on further measures to stabilize the economy" on taxation issues, companies that by type of activity were exempt from taxes, contributions and deductions from employee income in the period from 01.04.2020 to 01.10.2020 were identified. It should be noted here that during the period of lack of income, sole proprietors have the right to make contributions for their employees, but this is not their responsibility. If the correction coefficient "0" is applied to the rates of mandatory pension contributions to the income of their employees, the employee is transferred (paid) wages without deducting from it mandatory pension contributions.
Meanwhile, in accordance with paragraph 24-5 of "Rules for the provision of some state services in socio-labor sphere and the procedures of grocery and household recruitment of certain categories of the population in times of emergency," approved by order of the Minister of labour and social protection of population of Kazakhstan from March 25, 2020 No. 109 persons, whose activities is stipulated by the list of activities, and applies the coefficient "0", the length of the pension system and in the system of mandatory social insurance and income are accounted for on the basis of certificates of the employer.
On issues of accrual of labor and basic pensions, taking into account the length of participation in the pension system, we recommend contacting the NAO "State Corporation" Government for citizens", on the application of the correction coefficient" 0 "to the rates of contributions and deductions for mandatory social health insurance - to the NAO" social health insurance Fund", on the payment of taxes – to the state revenue Committee of the Ministry of Finance of the Republic of Kazakhstan.
After lifting the quarantine, we want to go to Ukraine, where the elderly parents of the spouse who need help and care live. What do we need to do to get retirement savings?
The right to pension payments from the UAPF in connection with departure for permanent residence (permanent residence) outside the Republic of Kazakhstan at the expense of mandatory pension contributions and mandatory professional pension contributions in accordance with the Law of the Republic of Kazakhstan "on pension provision in the Republic of Kazakhstan" (Law) have left for permanent residence outside the Republic of Kazakhstan foreigners and stateless persons who have pension savings in the UAPF and have submitted documents specified by the legislation of the Republic of Kazakhstan confirming the fact of departure. Please note that before obtaining citizenship of another state, it is mandatory to pass the procedure of registration of documents for permanent residence outside the Republic of Kazakhstan in accordance with the law, to obtain citizenship of another state and only then submit documents to the UAPF.
In accordance with the provisions of article 33 of the Law, foreigners and stateless persons who leave or leave for permanent residence outside the Republic of Kazakhstan, who have pension savings in the UAPF and who have submitted documents specified by the legislation of the Republic of Kazakhstan confirming their intention or fact of departure, are entitled to payments from voluntary pension contributions.
Thus, after a foreign citizen or a stateless person provides a full set of documents that meet the requirements of the legislation of the Republic of Kazakhstan, the UAPF pays out pension savings within ten working days from the date of receipt or receipt of documents by the UAPF.
More information is available on the website enpf.kz in the section "Services" - "Recipients" - "Procedure for registration of pension payments in connection with departure from the Republic of Kazakhstan".
My father has a group 2 disability and will soon be 63 years old. How and where can we apply for payment processing, including from the UAPF?