The husband wrote an application for the transfer of part of his savings to private UIP. I worry, but what if they do not justify the trust? What should we do then?
First of all, it should be noted that pension savings may be transferred to the investment portfolio manager in an amount not exceeding the difference between the actual amount of the depositor's pension savings in the UAPF and the threshold of the minimum sufficiency of pension savings or, in the case of a pension annuity agreement with an insurance company providing for lifetime payments, in an amount not exceeding the balance of pension savings in the depositor's account in the UAPF.
Due to the fact that the activity of UIP is a competitive environment, where management companies offer their own terms and investment strategy, we recommend that the depositor study the information about the company in detail before making a decision on the transfer of their savings. Investment declarations and commission information are available on the enpf website.kz in the "Services" section»- "Register of investment portfolio managers".
Investing pension savings is a long-term process, so it is better to evaluate the first results of management not earlier than in a year.
Based on this, the depositor can:
- no more than once a year to submit an application for a change in the UIP for the transfer of their pension savings in trust from one UIP to another UIP;
- submit an application to the UAPF for the return of pension savings held in the trust management of the UIP to the trust management of the National Bank (not earlier than two years after the initial transfer of pension savings to the trust management of the UIP).
10 calendar days before the depositor reaches the retirement age, his pension savings, taking into account the investment income, will be returned to the management of the National Bank of the Republic of Kazakhstan (if they were previously in the trust management of the UIP) and used for the purposes of making pension payments according to the schedule, concluding a pension annuity agreement or for other purposes provided for by law.
I would like to draw your attention to such points. The state guarantee of the safety of mandatory pension contributions, mandatory professional pension contributions in the amount of actually made mandatory pension contributions, mandatory professional contributions, taking into account the level of inflation, is provided only for the amounts managed by the National Bank of the Republic of Kazakhstan.
In the event of a negative difference between the nominal return on pension assets received by the UIP and the minimum value of the return on pension assets calculated in accordance with the Law and the regulatory legal act of the ARRFR, the UIP shall reimburse this negative difference from its own capital in the manner and within the time limits established by the regulatory legal act of the ARRFR, for the subsequent transfer of this amount to the Applicant, whose pension savings were held in trust by this UIP as of the end of the year preceding the year in which the refund is made. At the same time, the specified amount is credited to the individual pension accounts of depositors opened in the UAPF.
The minimum level of return will be calculated based on the weighted average return on pension assets transferred to the management of the PPI operating in the market.