INFORMATIONAL MESSAGE
Pension contributions and investment income demonstrate stable growth
Key indicators of the UAPF as of April 1, 2023
Pension contributions increasing every year and the investment income accrued on them form a financial safety cushion, demonstrating the stability and reliability of the pension system of Kazakhstanis.
As of April 1, 2023 on individual accounts of depositors (recipients) The Unified accumulative Pension Fund has formed pension savings in the amount of 15.4 trillion tenge. Since the beginning of the year, they have grown by more than 736 billion tenge (or 5%). They include pension contributions and investment income. For 3 months of 2023, the volume of pension contributions amounted to 487.4 billion tenge, which is an increase of 27% compared to the same period last year. The increase in pension savings was ensured, among other things, due to net investment income, which as of April 1, 2023 since the beginning of the year, it has amounted to 336.33 billion tenge and exceeds last year's figures by 40.5 billion tenge or 14%.
Since January 1, 2023, savings due to mandatory pension contributions (OPV) have increased by 704.5 billion tenge (or 5%). The amount of pension savings due to mandatory occupational pension contributions (OPP) amounted to about 477 billion tenge, having increased by 7% in 3 months. The largest increase of 10.7% since the beginning of the year has been demonstrated by accumulations on voluntary pension contributions (DPV), which amounted to more than 3.9 billion tenge.
The volume of pension contributions since the beginning of 2023 amounted to about 487.4 billion tenge, which is 27% or 103.9 billion tenge higher than last year. It should be noted that the growth occurred for all types of contributions: compared to the same period last year, the volume of OPV increased by 27% (by 99 billion tenge), OPV – by 24% (by 4.5 billion tenge), the largest increase occurred in the DPV – 64% (by 194 million tenge).
Since the beginning of the year, the UAPF has paid about 98 billion tenge. Most of the payments were pension payments (EPO) by age – 36.09 billion (36.85%), one–time pension payments for housing improvement and treatment - 34.4 billion tenge (35.1%).
Age payments for 3 months of the current year exceed the volume of these payments for the same period last year by 35%, which is due to both an increase in the number of recipients and an indexation by 5% of the amount of pension payments from the UAPF in 2023.
It should be noted that the amount of the average monthly payment according to the schedule from the UAPF (due to reaching retirement age) It amounted to 32,082 tenge (in the same period last year, the average monthly payment was 29,372 tenge), and the maximum amount of payment was 742,692 tenge (in the same period last year, the maximum payment was 707,326 tenge).
Inheritance payments were also made - 12.4 billion tenge, payments in connection with permanent residence outside the Republic of Kazakhstan – 8.7 billion tenge, payments for burial – 1.4 billion tenge, disability payments – 690.6 million tenge. About 4.3 billion tenge has been transferred to insurance organizations.
The number of individual pension accounts in the UAPF as of April 1, 2023 amounted to 12.15 million units, 11 million of which are for mandatory pension contributions. The number of accounts for the OPPV is 607,473 units, 367,543 IPS have been opened for the accounting of the DPV. At the same time, since the beginning of the year, more than 52.7 thousand OPV accounts, about 14.4 thousand OPV accounts and about 9.5 thousand DPV accounts have been opened.
UAPF was established on August 22, 2013 on the basis of JSC "NPF "GNPF". The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Property and Privatization Committee of the Ministry of Finance of the Republic of Kazakhstan. The trust management of pension assets of the UAPF is carried out by the National Bank of the Republic of Kazakhstan. Since January 1, 2016, the functions of developing proposals to improve the efficiency of pension assets management have been transferred to the National Fund Management Council. In accordance with the pension legislation, the UAPF attracts mandatory pension contributions, mandatory occupational pension contributions, voluntary pension contributions, pension payments, individual accounting of pension savings and payments, provides the depositor (recipient) with information on the status of his pension savings (more on www.enpf.kz )