What can be done to improve the adequacy of a pension?

          A gradual transition to a funded pension system, in which the level of future pensions directly depends on pension savings, requires the active participation of citizens in their formation.

To ensure growth of savings the following is important:

• monitor the completeness and regularity of receipt of contributions - this can be done in your personal account on the ENPF website or in the mobile application 24/7;

A gradual transition to a funded pension system, in which the level of future pensions directly depends on pension savings, requires the active participation of citizens in their formation.

To ensure growth of savings the following is important: monitor the completeness and regularity of receipt of contributions - this can be done in your personal account on the ENPF website or in the mobile application 24/7;

• Enhance investment management capabilities. Depositors have the right to transfer up to 50% of their mandatory savings and up to 100% of their voluntary savings to private management companies (PMCs) of their choice. You can select a PMC investment strategy in your personal account on the ENPF website, depending on the level of risk and expected return, as well as the investment term: if possible, pay voluntary pension contributions (VPC). VPC can be deposited into your account not only for yourself, but also for your loved ones, including minor children. The UAPF opens VPC accounts automatically upon receipt of the first contribution. Employers can transfer VPC for their employees, including this option in the social package. Tax incentives are provided for VPC by law: (1) the VPC paid is not the employee's income, and the employee does not pay personal income tax on it; (2) the employer deducts VPC expenses in favor of the employee. A contributor has the right to receive payments from savings due to VPC from the age of 50 (i.e. until reaching retirement age);·        
• forecast and plan your pension using the services offered by the ENPF: a pension calculator and a personal pension plan, allowing you to calculate future payments and adjust savings. Services are available on the ENPF website and mobile app.  A pension is a long-term financial instrument, and its effectiveness depends on the investor's commitment. The earlier savings and investment begin, the higher the funded pension will be. Enhance investment management capabilities. Depositors have the right to transfer up to 50% of their mandatory savings and up to 100% of their voluntary savings to private management companies (PMCs) of their choice. You can select a PMC investment strategy in your personal account on the ENPF website, depending on the level of risk and expected return, as well as the investment term;· if possible, pay voluntary pension contributions (VPC). VPC can be deposited into your account not only for yourself, but also for your loved ones, including minor children. The UAPF opens VPC accounts automatically upon receipt of the first contribution. Employers can transfer VPC for their employees, including this option in the social package. Tax incentives are provided for VPC by law: (1) the VPC paid is not the employee's income, and the employee does not pay personal income tax on it; (2) the employer deducts VPC expenses in favor of the employee.
• A contributor has the right to receive payments from savings due to VPC from the age of 50 (i.e. until reaching retirement age): forecast and plan your pension using the services offered by the ENPF: a pension calculator and a personal pension plan, allowing you to calculate future payments and adjust savings. Services are available on the ENPF website and mobile app.                                                                            A pension is a long-term financial instrument, and its effectiveness depends on the investor's commitment. The earlier savings and investment begin, the higher the funded pension will be