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 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 IPM and the minimum value of the return on pension assets calculated in accordance with the Law and the regulatory legal act of the AKDFM, the IPM compensates the UAPF for this negative difference at the expense of its own capital in the manner and terms established by the regulatory legal act. act of the AKDFM, for the subsequent transfer of this amount to the contributor, whose pension savings were in trust management of this IPM as of the end of the year preceding the year in which the reimbursement is made. At the same time, the specified amount is credited to the individual pension accounts of the contributor opened with the UAPF.
The minimum level of return will be calculated from the weighted average return on pension assets transferred to the management of an IPM operating on the market. Information on indicators of minimum yield and average weighted yield on pension assets will be published monthly on the official Internet resource of the National Bank of the Republic of Kazakhstan.
According to the Law of the Republic of Kazakhstan “On Pension Provision in the Republic of Kazakhstan”, IPMs are entitled to charge a commission for investment management. The maximum amount of remuneration of the IPM cannot exceed 7.5% of the received investment income. The actual amount of the commission will be approved annually by the governing body of the IPM and may change no more than once a year.
The depositor has the right:
- not more than once a year, submit an application for changing the IPM for transferring their pension savings into trust management from one IPM to another IPM;
- submit to the UAPF an application for the return of pension savings held in trust management of the IPM 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 IPM).
10 calendar days before the contributor reaches retirement age, his pension savings, taking into account investment income, will be returned to the management of the National Bank of the Republic of Kazakhstan (if they were in trust management of the UIP before this period) and used for the purpose of making pension payments according to the schedule, conclusion of a pension annuity agreement or for other purposes provided for by law.