Key indicators of the EPPF as of February 1, 2024
As of February 1, 2024, the pension savings of Kazakhstanis amounted to more than 18.1 trillion tenge. In the first month of 2024, their growth amounted to about 240.5 billion tenge (1.3%). Compared to the same date last year, the volume of pension savings increased by 3.3 trillion tenge (by 21.9%).
The main amount of pension savings was formed at the expense of mandatory pension contributions (OPV) and amounted to more than 17.5 trillion tenge (an increase of 21.7% over the year). The amount of pension savings on mandatory professional pension contributions (OPP) amounted to about 578.2 billion tenge (an increase of 26.9% over the year), the amount of pension savings on voluntary pension contributions (DPV) amounted to more than 5.5 billion tenge (an increase of 50.1% over the year).
Recall that from January 1, 2024, the current accumulative system has been supplemented with a new conditional accumulative component - mandatory pension contributions from the employer (hereinafter – OPVR). The value of the OPVR is calculated from the monthly income of each employee: from January 1, 2024 in the amount of 1.5% with an annual increase to 5% in 2028. Employees who retire in 2038 will start receiving payments from the OPVR. This measure is aimed at supporting Kazakhstanis born after 1975, whose pensions will directly depend on their pension contributions. In the first month of 2024, the amount of pension savings due to the OPVR amounted to more than 1.1 billion tenge.
The amount of pension contributions for the first month of 2024 reached 187.7 billion tenge, which is 20% or 31.7 billion tenge higher than last year. In the total amount of pension contributions, 93.7% are receipts to the UAPF from the OPV (more than 175.9 billion tenge, an increase of 20% over the year). More than 10.3 billion tenge was received at the expense of the OPPV (an increase of 15% over the year). The volume of DWP amounted to 291 million tenge (an increase of 75% over the year), OPVR – more than 1.1 billion tenge.
Net investment income accrued to individual pension accounts of UAPF depositors since the beginning of the year amounted to more than 109.6 billion tenge, which exceeds the figures for the same period last year by 45.7 billion tenge or 72%.
The number of individual pension accounts (IPS) in the UAPF as of February 1, 2024 was at the level of 12.3 million units, including about 11.1 million for OPV, about 646 thousand for OPV, 403.3 thousand for DPV. As of February 1, 2024, the number of conditional pension accounts in the UAPF, which take into account information on received OPVR and other receipts in accordance with the legislation of the Republic of Kazakhstan (UPS), amounted to more than 269 thousand units.
In the first month of 2024, the EPPF paid more than 63.4 billion tenge, of which age payments amounted to 15.5 billion tenge, one-time pension payments (EPO) in order to improve housing conditions and treatment – more than 28.6 billion tenge, transfers to insurance organizations – 10.8 billion tenge, inheritance payments - 4.4 billion tenge, payments to in connection with permanent residence outside Kazakhstan - 2.8 billion tenge, funeral payments – 966.9 million tenge and disability payments – 280.4 million tenge.
The amount of the average monthly payment according to the schedule from the UAPF in connection with reaching retirement age was 34,162 tenge, and the maximum amount of monthly payment was 945,752 tenge. Recall that for the same period last year, the average amount of monthly payment according to the schedule from the UAPF was 32,040 tenge, and the maximum amount of monthly payment was 742,692 tenge.
All relevant information on statistical data on pension assets, including by regions of the republic, is available on the enpf website.kz in the "Indicators" section.
The 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 asset 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 (for more information on www.enpf.kz )