ANNOUNCEMENT
UAPF has transferred approximately USD3.4 million to participants in
the National Fund for Children program
The UAPF continues to receive applications for the use of target savings under the National Fund for Children program.
Let us recall that, according to the program, 50% of the investment income of the National Fund of the Republic of Kazakhstan (hereinafter referred to as the National Fund) is annually distributed among children who are citizens of the Republic of Kazakhstan of all ages until they reach adulthood. The first target requirements and target savings were received in UAPF accounts in January 2024. After turning 18, young people can use target savings for housing and/or education. To do this, they need to submit an application to banks that have become authorized operators for the use of target savings. The authorized operator for the use of target savings for housing is Otbasy Bank Housing Construction Savings Bank JSC. Target savings for education can be used through two authorized operators - Otbasy Bank Housing Construction Savings Bank JSC and Halyk Bank of Kazakhstan JSC.
As of 01.11.2024, UAPF has executed (transferred to authorized operators for crediting to applicants' bank accounts) 33,546 applications for a total of USD 3,364,944.63, of which 17,991 applications for the purpose of improving housing conditions were executed in the amount of USD 1,804,601.05, and 15,555 applications for the amount of USD 1,560,343.58 were executed for paying for education.
Housing improvement
Among those who chose to use funds to improve their housing conditions, the most active during the reporting period were residents of Shymkent (2,341 applications completed for a total of $235,151.13), Kyzylorda region (1,818 applications completed for a total of USD182,718.21) and in third place were residents of Zhetisu region (1,194 applications completed for a total of USD119,787.47).
The most popular sub-purposes for using the funds were:
- replenishment of a deposit in housing construction savings for further accumulation (17,439 applications were executed for the amount of USD 1,749,288.80– 96.93% of all executed applications),
- acquisition of housing in ownership under civil law transactions (final settlement) – 184 applications for the amount of USD 18,441.78 (1.02%),
- making a down payment to receive a mortgage housing loan for the purchase of housing – 152 applications for the amount of USD 15,263.91 (0.84%).
Payment for education
The most active Kazakhstanis who used funds to pay for education were also residents of Shymkent (2,228 applications completed for a total of USD 223,606.29), in second place were residents of the Zhetisu region (1,498 applications completed for a total of USD 150,181.82), in third place were residents of Almaty (1,344 applications completed for a total of USD 134,859.72).
The most popular sub-goals in this area were:
- payment for educational services of educational organizations located in the territory of the Republic of Kazakhstan, in installments (for each academic period or academic year) or in full at one time (for the entire period of study) - 12,728 applications completed for a total of USD 1,276,628.93 (81.83% of completed applications).
- replenishment of the educational savings deposit under the agreement on the educational savings deposit - 2,096 applications were executed for the amount of USD 210,399.44 (13.47%),
- payment for educational services of foreign educational organizations in installments (for each academic period or academic year) or in full at one time (for the entire period of study) - 632 applications were executed for the amount of USD 63,411.90 (4.06%).
It should be noted that the recipient of target savings has the right to use both the entire amount due to him and a part of it, while the remainder of the unused amount remains in the target savings account (TSA).
For your information.
Parents or other legal representatives of a minor can check information about the inclusion of a child in the list of participants in target requirements on the website kids.enpf.kz using the child's IIN, where they can read the terms of the program, get instructions and answers to questions of interest.
Parents can also check data on accruals for each child in their personal account in the e-government mobile application.
Kazakhstanis who turned 18 in 2024 can independently check the receipt of funds for the central nervous system through their personal account on the UAPF Internet resource and (or) the e-government web portal.
Statistical reports on accruals by age, region of the republic, as well as detailed information on payments of target savings for the purpose of improving housing conditions and (or) paying for education by authorized operators and regions are available on the website enpf.kz.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF 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. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz).
Amendments to the decision of the Bulandyn district Maslikhat No. 8C-10/15 dated November 16, 2023 "On Approval of the Rules for Providing Social Assistance, establishing its size and determining the list of certain categories of needy citizens in the Bulandyn district"
Draft decision of the Bulandyn district Maslikhat "On Amendments to the decision of the Bulandyn district Maslikhat dated November 16, 2023 No. 8C-10/15 "On Approval of the Rules for Providing Social assistance, establishing its size and determining the list of certain categories of needy citizens in the Bulandyn district" (hereinafter - the project) was developed in accordance with the Law of the Republic of Kazakhstan dated December 23, 2023 "On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on the issues of the State Corporation "Government for Citizens", the Astana Hub International Technology Park and fingerprint registration".
Investment portfolios of pension assets managed by the NBRK and IPM as of December 1, 2023
UAPF JSC presents a report on the management of pension assets by the National Bank of the Republic of Kazakhstan (NBRK) and investment portfolio managers (IPM) as of December 1, 2023 on the website enpf.kz. A detailed report on investing pension savings is posted on the enpf.kz website in the “Indicators - Investment Activity” section. The total volume of pension assets as of December 1, 2023 amounted to about KZT17,364.76 billion. At the same time, the pension assets of the UAPF, which are in trust management of the National Bank of the Republic of Kazakhstan, amounted to KZT17,347.35 billion. Pension assets managed by IPM amounted to KZT17.41 billion.
Investment portfolio of pension assets managed by the NBRK
The main directions for investing pension assets of the NBRK as of December 1, 2023 are as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan - 47.55%, bonds of quasi-public companies - 9.94%, bonds and deposits of second-tier banks of the Republic of Kazakhstan - 6.03%, deposits of the NBRK - 2.67%, securities of international financial organizations - 2.11%, government securities of foreign states - 1.46%.
The investment portfolio, broken down by the currencies in which financial instruments purchased from pension assets are denominated, as of December 1, 2023, looks like this: investments in national currency - 69.29%, in US dollars -30.67%, in other currencies - 0.04% of the portfolio of pension assets.
From the analysis of the structure of income received, it follows that income in the form of remuneration on securities, including on placed deposits and reverse repo operations and from market revaluation of securities, amounted to KZT1,286.94 billion, for assets under external management – KZT2.12 billion, other income – KZT4.88 billion. The revaluation of foreign currency was negative and amounted to KZT14.50 billion.
Thus, due to the diversification of the investment portfolio of pension assets by instruments, industries and currencies, the total income as of December 01, 2023 from the beginning of the year is positive.
As a result of investment activities, as well as due to the volatility of foreign exchange rates and changes in the market value of financial instruments, the amount of accrued investment income as of December 1, 2023 from the beginning of 2023 amounted to KZT1,279.44 billion.
The return on UAPF pension assets distributed to the accounts of contributors (beneficiaries) from the beginning of 2023 amounted to 8.11% with inflation of 8.9%.
At the same time, as of December 1, 2023, the return on pension assets for the last 12 months (from December 2022 to November 2023) for UAPF contributors (recipients) was 8.9%.
Let us recall that in the medium and long term, a positive real (exceeding accumulated inflation) return on pension savings is ensured.
The detailed structure of the investment portfolio of financial instruments managed by the National Bank of Kazakhstan, indicating the issuers and an overview of investment activities are posted on the official website of the UAPF. Let us recall that in Kazakhstan there is a model of state guarantee of the safety of pension savings. In accordance with Article 217 of the Social Code of the Republic of Kazakhstan, the state guarantees recipients the safety of mandatory pension contributions and mandatory professional pension contributions to the UAPF in the amount of contributions actually made, taking into account the level of inflation at the time of receipt of the right to pension benefits.
Investment Portfolio Managers
The total amount of funds managed by the IPM is KZT17.41 billion.
As of December 1, 2023, pension assets under trust management of Jusan Invest JSC amounted to KZT5.4 billion.
The company's most significant investments: government securities of the Ministry of Finance of the Republic of Kazakhstan - 40.89%, shares of Exchange Traded Funds (ETF) - 22.71%, cash in investment accounts - 18.77%, repo - 15.88%. Note that 67.90% of the portfolio is presented in tenge; 32.10% - in US dollars.
As a result of investment activities, as well as due to the volatility of foreign exchange rates and changes in the market value of financial instruments, the amount of accrued investment income for 2023 as of December 1 amounted to KZT459.49 million. The return on pension assets was 10.7%.
The detailed structure of the investment portfolio of financial instruments managed by Jusan Invest JSC, indicating the issuers, is presented on the UAPF website.
As of December 1, 2023, pension assets under trust management of Halyk Global Markets JSC amounted to about KZT3 billion.
The main investments in the portfolio structure are as follows: “reverse repo” (no more than 90 calendar days) – 39.91%, bonds of quasi-public organizations of the Republic of Kazakhstan – 13.65%, equity instruments of foreign issuers (ETF units) – 8.84%, bonds of microfinance organizations – 8.62%, securities having the status of government issued by the central governments of foreign countries – 8.45%. Investments in national currency accounted for 71.51% of the portfolio, in US dollars - 28.49%.
As a result of investment activities, the amount of accrued investment income as of December 1 from the beginning of 2023 amounted to KZT354.77 million. The return on pension assets amounted to 28.61% from the beginning of activity and 13.86% from the beginning of 2023.
The detailed structure of the investment portfolio of financial instruments managed by Halyk Global Markets JSC, indicating the issuers, is presented on the UAPF website.
Pension assets of the UAPF, which are in trust management of BCC Invest JSC as of December 1, 2023, amounted to KZT2.6 billion.
Among the main areas of investment, the following can be identified: bonds of quasi-public organizations of the Republic of Kazakhstan - 26.9%, REPO - 22.34%, government bonds of the Republic of Kazakhstan - 19.05%, shares (ETF on indices) - 13.93%, US government bonds – 5.52%, cash in investment accounts – 4.27%, MFO bonds – 3.32%, corporate bonds of resident issuers of the Republic of Kazakhstan – 3.01%, portfolio. 73.06% of the portfolio was invested in instruments in national currency, and 26.94% in US dollars.
As a result of investment activity since the beginning of the year, as of December 1, 2023, the amount of accrued investment income amounted to KZT176.27 million. The return on pension assets was 11%.
The detailed structure of the investment portfolio of financial instruments managed by BCC Invest JSC, indicating the issuers, is presented on the UAPF website.
Pension assets of the UAPF, which are in trust management of Centras Securities JSC, as of December 1, 2023 amounted to KZT987.4 million.
34.51% of assets are invested in government securities of the Ministry of Finance of the Republic of Kazakhstan, bonds of quasi-public organizations - 19.32%, bonds of second-tier banks of the Republic of Kazakhstan - 16.79%, cash in investment accounts is 2.45%; REPO – 9.02%, shares and depository receipts of issuers of the Republic of Kazakhstan – 8.65%, US government bonds – 8.23%. 75.94% of the portfolio was invested in instruments in national currency, and 24.06% in US dollars.
As a result of investment activities and changes in the market value of financial instruments, the amount of accrued investment income as of December 1, 2023 from the beginning of the year amounted to KZT89.83 million. The return on pension assets since the beginning of 2023 has amounted to 9.11%.
The detailed structure of the investment portfolio of financial instruments managed by Centras Securities JSC, indicating the issuers, is presented on the UAPF website.
As of December 1, 2023, pension assets held in trust by Halyk Finance Subsidiary of the Halyk Bank of Kazakhstan JSC amounted to KZT5.4 billion.
The main investments in the portfolio structure are as follows: “reverse repo” (no more than 90 calendar days) – 51.69%, cash in accounts – 12.98%, bonds of quasi-public organizations of the Republic of Kazakhstan – 9.77%, government securities of the Ministry of Finance of the Republic of Kazakhstan – 9 .13%, shares of Exchange Traded Funds (ETF) – 6.09%, government securities of foreign countries – 4.49%.
85.18% of the portfolio was invested in instruments in national currency, in US dollars - 13.82%, in euro currency - 0.99%.
As a result of investment activities, the amount of accrued investment income as of December 1 from the beginning of 2023 amounted to KZT153.15 million. The return on pension assets since the beginning of 2023 has amounted to 15.29%.
The detailed structure of the investment portfolio of financial instruments managed by Halyk Finance Subsidiary of the Halyk Bank of Kazakhstan JSC, indicating the issuers, is presented on the UAPF website.
Let us note that after receiving pension assets from the UAPF, the IPM invests them in the permitted financial instruments specified in the Rules for the implementation of investment portfolio management activities, approved by the resolution of the Board of the National Bank of the Republic of Kazakhstan dated July 1, 2023 No. 62, and provided for in the Investment Declaration of the IPM. When transferring pension savings to the management of the pension insurance company, the state guarantee is replaced by a guarantee from the management company to ensure a minimum level of return on pension assets. The minimum level of return is calculated based on the weighted average return of pension assets transferred to the management of the pension insurance system operating on the market.
Let us remind you that from July 1, 2023, contributors can transfer to trust management no more than 50% of pension savings at the expense of compulsory pension contributions (CPC) and compulsory occupational pension contributions (COPC), without taking into account the minimum sufficiency threshold for investment portfolio managers (IPM), by choosing such a company yourself. Contributors who have voluntary pension savings can transfer them to the IPM in the amount of 100%.
provides the opportunity to shift our thinking into turbo mode, enhance the capabilities of experts and policymakers in the field of social policy, thoroughly explore existing issues, and then develop a whole range of initiatives to address them."
Watch the reportage 'Kazakhstan's Pension System Included in the Global Pension Rating by the Mercer CFA Institute' at the following link:
Subscribe to the YouTube channel of UAPF for interesting and useful information about the accumulative pension system.
Demand for UAPF online services remains at a high level
For 9 months of the current year (from 01.01. to 01.10.2023), the Unified Accumulative Pension Fund provided 18.8 million services to its investors, of which more than 13 million in electronic format, more than 4 million in automatic format. 973,663 contributors were served, 856,794 people contacted the Fund’s offices directly.
One of the most popular services remains the issuance of statements on the status of an individual pension saving account (IPSA) - since the beginning of the year, more than 17.1 million have been issued. Of these, about 13 million (or 69.28%) are in electronic form, about 3 more, 7 million were sent automatically to the addresses of contributors and beneficiaries who had previously chosen the “e-mail” method of information, and almost 456 thousand statements were provided at the Fund’s offices.
Let us remind you that in the personal account on the website and in the UAPF mobile application, contributors (beneficiaries) have the opportunity to use services such as making changes and additions to their details, obtaining a certificate of availability of an individual pension saving account, submitting an application for pension benefits in connection with the determination of disability 1 or 2 groups for an indefinite period, tracking the status of an application for benefit payment, transferring part of the savings to an investment portfolio manager, predictive calculation of a future pension using a pension calculator, etc. 24/7 anywhere in the world.
Over the past 9 months since the beginning of the year, more than 262 thousand IPSAs have been opened automatically in the UAPF information base. This became possible thanks to the integration of the UAPF information systems and the State Database “Individuals”, from where the Fund receives identification data about new contributors (full name, year of birth, etc.) using IIN.
About 251 thousand applications for changing details were accepted, of which more than 196 thousand were received at the Fund’s offices.
UAPF field service departments: mobile agents and mobile office crews provided over 111 thousand services. As part of the outreach work, more than 26.5 thousand road presentations were held, attended by more than 568 thousand people. Let us remind you that any company can apply for a presentation and consultation on the funded pension system with a visit to the office, for which you just need to call the call center at 1418 or contact the UAPF website or mobile application.
For the UAPF, it is always a priority to provide high-quality consulting and information services to the Fund’s contributors (beneficiaries). As of October 1, 2023, the number of requests from contributors through feedback channels amounted to about 561.8 thousand.
Consulting services of the UAPF can be obtained through messengers (chat bot on WhatsАpp and Viber at +7 777 000 14 18), call center at 1418 (calls within Kazakhstan are free), on the corporate website enpf.kz, as well as on official pages UAPF on social networks Instagram, Facebook, VKontakte, X, Telegram, Odnoklassniki.
Единый накопительный пенсионный фонд (ЕНПФ) Республики Казахстан приглашает Вас принять участие в семинаре «Школа финансовой журналистики в области пенсионного обеспечения». Мероприятие направлено на информирование и обучение по вопросам пенсионной системы и состоится в онлайн-формате 23 ноября 2023 года (четверг) на русском языке и 24 ноября 2023 года (пятница) на казахском языке.
Эксперты Фонда расскажут о пенсионных системах в мире, деятельности ЕНПФ, инвестировании пенсионных активов и о передаче накоплений в доверительное управление, видах пенсионных выплат и механизмах их получения, наглядно покажут, как сделать интересный материал о накопительной пенсионной системе и где найти эксклюзивные комментарии по теме. А также ознакомят с нововведениями в НПС согласно Социальному кодексу и программой «Нацфонд - детям», которая стартует в 2024 году.
Место проведения: платформа для вебинаров Cisco Webex
Спикеры: эксперты ЕНПФ и Национального Банка РК
Время проведения: 23 ноября на русском языке и 24 ноября на казахском языке с 10.00 до 13.00.
Для участия необходима предварительная регистрация.
Заявку на участие необходимо направить на электронный адрес press@enpf.kz с указанием информации о себе:
ФИО,
наименование СМИ или учебного заведения (для студентов),
дата участия,
адрес электронной почты и номер телефона с WhatsApp (для отправки ссылки-приглашения и напоминания о мероприятии).
Ссылка-приглашение будет Вам направлена за день до начала мероприятия.
ЕНПФ создан 22 августа 2013 года на базе АО «НПФ «ГНПФ». Учредителем и акционером ЕНПФ является Правительство Республики Казахстан в лице ГУ «Комитет государственного имущества и приватизации» Министерства финансов Республики Казахстан. Доверительное управление пенсионными активами ЕНПФ осуществляет Национальный Банк Республики Казахстан. С 1 января 2016 года функции по выработке предложений по повышению эффективности управления пенсионными активами переданы Совету по управлению Национальным фондом. В соответствии с пенсионным законодательством ЕНПФ осуществляет привлечение обязательных пенсионных взносов, обязательных профессиональных пенсионных взносов, добровольных пенсионных взносов, пенсионные выплаты, индивидуальный учет пенсионных накоплений и выплат, предоставляет вкладчику (получателю) информацию о состоянии его пенсионных накоплений (подробнее на www.enpf.kz).
UAPF has improved the Pension Calculator on its official website and mobile application by adding new features.
The forecast pension calculator is a tool for planning a future pension and allows the user to independently calculate the estimated amount of pension benefits, including pension of:
The UAPF pension calculator has been supplemented with new features for contributors.
Firstly, the pension calculator allows you to calculate pension benefits in the event of a planned withdrawal of savings. The user can choose:
- the year and the desired amount of withdrawal of pension savings,
- a method of withholding individual income tax (IIT) from the withdrawal amount - at a time (in full, at the time of withdrawal of savings from the UAPF) or monthly (in equal shares, in the future upon receipt of pension benefits from the UAPF).
Secondly, the calculation of the increase in benefits from the UAPF for employees who have worked in hazardous industries for at least 60 months has been added to the calculator, taking into account the statutory correction factor.
Thirdly, the calculator allows you to see the dynamics of pension benefits in the event that a part of pension savings is transferred by an investment portfolio manager (IPM).
Recall that in order to calculate your pension, you need to fill in the required fields in the "Input data" block, such as date of birth, gender, length of service, amount of savings, and so on. If you are registered in your Personal Account on the enpf.kz website, then the basic data in the calculator will be filled in automatically.
The results are reflected in the “Forecast your pension” block and include the age and date of retirement, the number of years until the savings are depleted (in the case of benefits from the UAPF), the projected salary at the time of retirement and the income replacement rate for the forecast pension, as well as the dynamics of changes in the forecast pension by years in the form of a graph and a table. For workers in harmful and dangerous professions, an increasing correction factor is taken into account. If the predicted amount of pension savings by reaching retirement age is sufficient to purchase a lifelong pension annuity from an insurance company, the calculator will offer to calculate this type of pension provision - annuity benefits.
In order to show the user the possible options for pension payments, taking into account changes in the assumptions on the level of return, the results are given in three scenarios - pessimistic, realistic and optimistic. In each scenario, you can see the dynamics of pension payments if the contributor transfers part of his pension savings to the IPM.
Thus, the user can evaluate the amount of his future pension and choose the most preferable one: with and without early withdrawal of pension savings for housing and (or) medical treatment, in the case of investing pension savings through the choice of the IPM, as well as in the case of concluding a pension annuity agreement.
The results of pension calculations are forecast, and not a guarantee of benefits. It should be borne in mind that the size of the future pension of each contributor depends on his pension savings. The amount of savings is influenced, first of all, by the amount of pension contributions, the regularity and completeness of their payment, as well as investment return. All calculated results of the forecast pension calculator are presented in real value terms (that is, already taking into account the influence of inflation in the corresponding forecast period).
As of August 1, 2022, from January 2021, UAPF has executed 1,328,015 applications from contributors (beneficiaries) for the use of pension accumulations to improve housing conditions. More than 3.1 trillion tenge was transferred to the special accounts of Kazakhstanis opened in banks-authorized operators. The average amount of lump-sum pension payments amounted to about 2.4 million tenge.
Most of the executed applications were sent by residents of Almaty (17.60%), Nur-Sultan (14.03%), Mangistau region (10.35%). Detailed information is available on the website www.enpf.kz in the “Indicators” section - for what purposes do Kazakhstanis plan to use lump-sum pension payments and by regions (subsections “Lump-sum pension payments for improving housing conditions by goals” and “Lump-sum pension payments for improving housing conditions, respectively”).
To date, the authorized operators accepting applications for the use of a part of pension accumulations are Housing Construction Savings Bank Otbasy Bank JSC, Halyk Bank of Kazakhstan JSC, Altyn Bank JSC, Bank CenterCredit JSC and Freedom Finance Bank Kazakhstan JSC". We emphasize that after receipt of a lump sum pension payment to a special account opened with an authorized operator (Housing Construction Savings Bank Otbasy Bank JSC), the recipient provides the authorized operator with documents confirming the intended purpose of lump sum pension payments within 20 working days from the date of their receipt ( in accordance with paragraph 13 of the Rules for the use of lump-sum pension payments to improve housing conditions in accordance with the legislation of the Republic of Kazakhstan). An exception is the replenishment of the contribution to housing construction savings for further accumulation in order to purchase a dwelling or build an individual residential building (including the acquisition of a land plot with a designated purpose - individual housing construction. In this case, the recipient provides Otbasy Bank with documents confirming the intended purpose of lump-sum pension payments in within 3 years from the date of their receipt. For other authorized operators (second-tier banks), applications for a one-time pension payment and documents of the recipient by purpose are considered in the manner and terms established by the bank's internal documents. At the same time, the bank transfers lump-sum pension payments for their intended purpose within 10 working days from the date of crediting the amounts of lump-sum pension payments to the special accounts of the applicant (recipient). In case of failure to provide the authorized operator with supporting documents within the prescribed period, these funds are subject to return to UAPF.
The recipient can also return the transferred amount to UAPF without waiting for the specified period by submitting to the authorized operator a corresponding application, which the authorized operator must execute within 3 (three) business days from the date of receipt of the application for a refund from the recipient.
It should be noted that 450.6 billion tenge was returned to the individual pension accounts (IPA) of contributors (beneficiaries) from authorized operators due to the fact that lump-sum pension payments by Kazakhstanis were not used within the established time frame, according to the applicant's application and for other reasons.
UAPF also executed 388,824 applications for treatment for a total amount of 302.5 billion tenge. At the same time, the average withdrawal amount is about 0.8 million tenge. At the same time, 31.3 billion tenge was returned to the IPAs of depositors (beneficiaries) in UAPF from the authorized operator (Housing Construction Savings Bank Otbasy Bank JSC), these funds were not used on time, at the request of the applicant and for other reasons.
You can get acquainted with the current statistics on the use of pension savings for treatment on the website www.enpf.kz in the section "Indicators" - "Lump-sum pension payments for treatment".
As of August 1 of this year, the investment portfolio manager (IPM) transferred 8.7 billion tenge, UAPF executed 5,877 applications. The average transfer amount is about 1.5 million tenge. Detailed statistics on the transfer of pension savings to trust management is also available on the website enpf.kz in the section "Indicators" - "Transfer of pension savings to management companies".
At the moment, UAPF has concluded agreements on trust management of pension assets with four IPMs. You can get acquainted with information about them and study their investment declarations on the website enpf.kz in the section "Services" - "Register of Investment Portfolio Managers".
Recall that after receiving pension assets from UAPF, the IPM invests them in permitted financial instruments specified in the Rules for the implementation of investment portfolio management activities, approved by the Resolution of the Board of the National Bank of the Republic of Kazakhstan dated February 3, 2014 No. 10, and provided for in the Investment Declaration of the IPM.
Under the Pensions Law, IPMs are entitled to charge an investment management fee. The maximum amount of remuneration of the IPM cannot exceed 7.5% of the received investment income. The actual amount of the commission is annually approved by the governing body of the IPM and may change no more than once a year.
During the period when pension savings are under the management of the National Bank until the depositor reaches retirement age, there is a guarantee of the safety of pension savings, taking into account the level of inflation. When transferring pension savings to the management of the IPM, the state guarantee is replaced by the guarantee of the management company to ensure the minimum level of profitability of pension assets, which is calculated on the basis of the weighted average profitability of pension assets transferred to the management of the IPM operating on the market.