1. Hello, just a month ago I became an individual entrepreneur and now I am selling office supplies. Previously, I worked in a large company and they made mandatory pension contributions for me, at the moment I quit my job and do only my own individual entrepreneur. In this regard, the question arises, how much should I contribute to the UAPF?
For individuals engaged in private practice, individual entrepreneurs, mandatory pension contributions in their favor, payable to a unified accumulative pension fund, are set at 10 percent of the income received, but not less than 10 percent of the minimum wage and not more than 10 percent 50- multiple of the minimum wage. Recall that in 2020 the minimum wage is 42,500 tenge.
In this case, income is determined independently by a person engaged in private practice, as well as by an individual entrepreneur for calculating mandatory pension contributions to a unified accumulative pension fund in his favor. In the event of a temporary lack of income, those engaged in private practice, as well as individual entrepreneurs, have the right to pay mandatory pension contributions to the unified accumulative pension fund in their favor at the rate of 10 percent of the minimum wage.
As a self-employed person, you have become a transfer agent. The transfer of compulsory pension contributions is made by the agent by way of non-cash payments. Lawyers, private bailiffs, private notaries, professional mediators, individual entrepreneurs who do not have accounts in banks and organizations make mandatory pension contributions in cash to the bank for their subsequent transfer to the UAPF. Payment of mandatory pension contributions in cash or by bank transfer through banks is carried out in the manner prescribed by the Law of the Republic of Kazakhstan "On Payments and Payment Systems".
2. Good afternoon! This year, due to a difficult financial situation, I had to contact a microcredit organization and get a loan from them. Now I cannot pay it, there are only enough funds for my daily needs, and they threaten me with going to court. Can you please tell me who, besides me, can get an extract from the UAPF and find out about my deductions? Thank you in advance.
The secrecy of pension savings, in accordance with Article 57 of the Law "On Pension Provision in the Republic of Kazakhstan", can be disclosed to a contributor making pension contributions, a recipient, any third party only on the basis of the written consent of the contributor (recipient). However, if necessary, certificates of balances and movement of money on an individual retirement account can be issued:
1) the bodies of inquiry and preliminary investigation - on the criminal cases in their proceedings;
2) the courts - on cases in their proceedings on the basis of a court ruling;
3) bailiffs - according to the executive documents being in their production on the basis of the decision of the bailiff, authorized by the court;
4) state revenue bodies - on issues related to the calculation, withholding (accrual) of mandatory pension contributions, mandatory professional pension contributions of the audited entity;
5) to the prosecutor - on the basis of a resolution on the performance of an inspection within the limits of his competence on the material under consideration;
In addition to them, information can be provided to the authorized body - on an issue that arose in connection with the application of a contributor (recipient) or in connection with his verification of the activities of a unified accumulative pension fund, voluntary accumulative pension fund; the authorized body for financial monitoring; to representatives of the depositor (recipient) - on the basis of a notarized power of attorney or a court decision; central executive body; audit organizations conducting an annual mandatory audit of the unified accumulative pension fund; PSCs - for the provision of public services on the basis of the application of the depositor (recipient).
3. From the news I learned that in the future they want to make a joint annuity for the spouses. In this connection, another question arises, in the event of a divorce from a spouse, pension savings can be considered jointly acquired property or not?
As you know, according to the Code of the Republic of Kazakhstan "On Marriage (Matrimony) and Family", property acquired by spouses during marriage is their common joint property; possession, use and disposal of the spouses' common property are carried out by mutual consent of the spouses. However, pension assets are classified as property rights. That is, the depositor, owning pension savings, cannot use and dispose of them, as well as his spouse. These powers become available to the depositor at the time they are received due to reaching the retirement age or other grounds provided by law. Thus, pension savings held in UAPF JSC and not received by the contributor cannot be recognized as the common property of the spouses.
4. Hello, I see how even well-known global companies are suffering losses during the coronavirus pandemic. How secure are my retirement savings? Are there any guarantees that tomorrow I will not lose my savings?
There is no reason to worry, because the Kazakhstani funded system is different in that we have a unique system of state guarantees for the safety of pension savings. The guarantee of the safety of pension assets is also ensured by the fact that all savings are accumulated in the UAPF, the shareholder of which is the Government of the Republic of Kazakhstan, and the trustee of the National Bank of the Republic of Kazakhstan.
In addition, in accordance with Article 5 of the Law of the Republic of Kazakhstan "On Pension Provision in the Republic of Kazakhstan", the state guarantees recipients the safety of compulsory pension contributions and compulsory professional pension contributions to the UAPF in the amount of contributions actually made, taking into account the inflation rate at the time of obtaining the right to pension payments ... The calculation and payment of the difference between the amount of actually paid compulsory pension contributions, compulsory professional pension contributions taking into account the inflation rate and the amount of pension savings is carried out by NJSC State Corporation "Government for Citizens" (State Corporation). In other words, the State Corporation calculates the amount of all transferred contributions with the inflation rate for the entire period of being in the accumulative pension system and compares it with the pension savings in the individual pension account of the contributor. The UAPF provides information on the amount of the balance of pension savings as of the set date. If the balance of pension savings is lower than the calculated amount of contributions, taking into account the inflation rate, the state will compensate this difference. This suggests that the savings of depositors are reliably protected and this does not depend on how events develop in the financial markets and the situation with investment income.
5. I recently read that in addition to compulsory contributions to the UAPF, there are also voluntary pension contributions. What is their advantage?
Voluntary pension contributions (VAP) are money that a contributor contributes on his own initiative to the UAPF, either in his favor or to the account of another recipient of pension payments. DPA can be carried out by both individuals and legal entities. Even minors can conclude a DPA agreement. But in this case, the legal representative must provide the required package of documents.
One of the advantages of DPVs is that the depositor can independently determine their size and frequency. In addition, investment income is accrued on your savings, as well as on mandatory pension contributions, which allows you to increase your assets. A pleasant bonus will be the fact that you can receive payments from voluntary pension contributions from the age of 50.
You can open an account for DPA in your favor on the website enpf.kz in the "Electronic Services" section using an electronic digital signature (EDS). Or visit the UAPF office with an identity card. You can pay for DPV through second-tier banks. By the way, some of them provide a service for paying for DPV through a mobile application or terminals.
If the depositor enters into an APA agreement in his favor, then only his identity card is sufficient. If in favor of a third person, then identity documents of both will be required. Legal entities provide a package of documents, which is presented on the website enpf.kz.
Note that as of October 1, 2020, more than 56.5 thousand individual pension accounts for DPV have been opened in the UAPF. More than 2.14 billion tenge has been accumulated on them.