ANNOUNCEMENT
The results of the annual independent sociological study, which determined the level of financial literacy of the population in the field of pension provision, have been summed up.
The research was carried out by the "Center for Strategic Research", by the method of mass questionnaire survey of the urban and rural population of 14 regions of Kazakhstan and 3 cities of republican significance. A total of 3,000 respondents were interviewed, including employees, self-employed and unemployed. Note that most of the respondents (899 or 29.97% of the total number of respondents) were employed in the field of commercial business. Then, by a large margin, were those who are employed in the manufacturing business - 386 respondents or 12.87% of the total number of respondents. The third significant group among the respondents were agricultural workers - 368 people or 12.27%. Least of all turned out to be those who are employed in the field of science - 30 respondents or 2.87% of the total number of respondents consider themselves to be in this field of activity.
The main block of questions of the survey questionnaire consisted of 24 questions aimed at identifying the financial literacy of the population of Kazakhstan in the field of pension provision.
The results of the survey showed that the level of awareness of the population about the funded pension system has increased.
The basic level of financial literacy was 63.4% (the previous figure for 2018 was 60.2%, for 2017 it was 58.2%).
The advanced level of financial literacy was 26.9% of respondents (25.3% in 2018, 24.7% in 2017).
As we can see from year to year there is a gradual increase in the level of knowledge and financial literacy of the population.
A series of questions had to be answered to confirm the baseline. In particular, who is the operator of the funded pension system; functions of the UAPF; what are the types of pension contributions and pension payments, etc.
An increase in the percentage of correct answers was observed on almost all questions of assessing the basic level of knowledge.
Thus, the share of correct answers about the types of pension payments increased from 37% to 45%, the share of correct answers about the types of pension contributions also increased from 74% to 77%, about the functions of the UAPF - from 52% to 79%, about who is the operator. funded pension system - from 60% to 64%.
And only the question of the retirement age is becoming more and more difficult for the respondents every year. So, in 2017 - when the retirement age for women was 58 years, for men - 63 years - the share of correct answers was 80%. Starting in 2018, the retirement age for women has been raised by 0.5 years annually until reaching 63 in 2023. Due to these changes, in 2018 the share of correct answers about the retirement age decreased to 78%, in 2019 - to 53%.
To assess the advanced level, the questions were more complicated: which organization invests pension savings, questions regarding investment income, pension annuity, guarantees for the safety of pension savings, taxation in the funded pension system, etc.
Thus, the share of correct answers to the question about an organization that invests pension savings has grown from 15% to 30%, that pension savings are invested in various financial instruments and are multiplied by investment income - from 35% to 38%, about the taxation of pension payments from 22 to 28%.
The survey results showed that most of the respondents are aware of the main functions of the UAPF, which indicates a general understanding of the role of the UAPF for the funded pension system, and most of the population is of the opinion that pension savings from the UAPF will be the main source of their financial well-being. So answered 1437 respondents, or 47.9% of the total number of respondents. The second most important, according to the opinion of the respondents, is the pension from the state - 23.63%, but only 11.57% of the total number of respondents count on other savings.
It is also important that the main source of information about the funded pension system for the respondents is the official website of the UAPF and the fund's service offices. In percentage terms, the first method is relevant for 29% of respondents, the second for 23.8%. In third place among sources of information is receiving information from friends 12.6%. An equally popular source of information is the ENPF mobile application, with its help 9.2% of respondents learn about the fund's work.
The study also identified topics that require additional clarification to the population. These are, for example, such issues as the main purpose of pension savings, their investment and guarantee of safety, the ability to predict your pension, the amount and terms of payment of voluntary pension contributions, payment of mandatory pension contributions as part of a single aggregate payment.
The findings of the study will be taken into account in the implementation of strategic objectives for information and explanatory work among the population of Kazakhstan about the pension system as a whole.
UAPF was created 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 Institution "Committee for State Property and Privatization" of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. From January 1, 2016, the functions of developing proposals to improve the efficiency of pension assets management were transferred to the Council for the Management of the National Fund. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, compulsory professional pension contributions, voluntary pension contributions, pension payments, individual accounting of pension savings and payments, provides the contributor (recipient) with information on the state of his pension savings (for more details see www.enpf.kz )