As of June 1, 2021, pension savings in the amount of KZT 12.7 trillion were formed on the accounts of the contributors of the Unified Accumulative Pension Fund. For the year, from 01.06.2020 to 01.06.2021, the amount increased by more than KZT 1 trillion or by 9%.
The main amount of pension savings was formed at the expense of compulsory pension contributions (CPC) and amounted to KZT 12.4 trillion (growth over the past 12 months was 9%). The amount of pension savings on compulsory occupational pension contributions (COPC) amounted to KZT 326.1 billion (an increase of 18%), the amount of pension savings on voluntary pension contributions (VPC) amounted to KZT 2.2 billion (an increase of 4%).
For five months of 2021, UAPF contributors contributed more funds than in the same period last year. As of June 1, 2021, pension contributions in the total amount of KZT 665.6 billion were received on the accounts of contributors, which exceeded the figure for the same period in 2020 by KZT 236.7 billion or 55%. Of the total volume of contributions, 95.5% are receipts to the UAPF for CPC – KZT 491.5 billion (an increase of 20% over the last 12 months), for COPC - KZT 22.9 billion (an increase of 14%), 241 million (an increase 80%) was transferred under the VPC.
In addition to the contributions of the contributors themselves, a significant increase in pension savings was due to net investment income, which from January 1 to June 1, 2021 amounted to KZT 654.2 billion, which exceeds the figures for the same period last year by 31% or KZT 155 billion. The return on pension assets of the UAPF under the fiduciary management of the National Bank of the Republic of Kazakhstan from the beginning of the year as of June 1 was 5.3%, with inflation of 3.5%. At the same time, the return for the last 12 months was 11.7%, while inflation for the same period was 7.2%.
The number of individual pension accounts in the UAPF as of June 1, 2021 amounted to 11.6 million units. The largest number of accounts was opened for compulsory pension contributions (CPC) - 10,900,756. Then there are accounts formed at the expense of COPC - 523,624, the number of accounts at the expense of VPC in the UAPF is now 45,143.
Since the beginning of the year, UAPF contributors have been paid about KZT 1.5 trillion, most of the benefits made up lump-sum pension benefits (LPB) KZT 1.4 trillion. The second in terms of the amount of payments were benefits by age – KZT 37.4 billion. This is followed by: transfers to insurance organizations - they amounted to about KZT 33.8 billion, inherited benefits – KZT 26.3 billion, in connection with leaving for permanent residence outside the Republic of Kazakhstan – KZT 13.4 billion, for burial – KZT 2.1 billion and disability benefits - KZT 0.9 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 28,780, and the maximum amount of the CPC monthly benefit was KZT 522,610. At the same time, in the current year the maximum payment according to the schedule to the contributor in total for CPC, COPC, and VPC is KZT 558 954.53.