5 questions. April.

I would like to open an account for voluntary contributions, as I began to think that I do not have so much savings, but I would like to receive a larger pension. Where should I apply?

You made the right decision. Voluntary contributions are an additional opportunity to provide yourself with an adequate pension in old age. That is why it is important to form your pension capital now in order to have a financial safety cushion in the future. Moreover, starting from May 1, 2021, opening an individual pension account to account for voluntary pension contributions will not be easy, but very simple - the basis for this will be your first voluntary pension contribution received by the UAPF.

DPV can be transferred both by the depositor-an individual at the expense of his income in his favor, and by the depositor (an individual or a legal entity) in favor of the recipient. At the same time, the amount and frequency of contributions are determined by the depositor independently.

It should be noted that when an individual pays a DPA in his own favor at the expense of his income, the tax legislation provides for a tax deduction for the amount of the DPA paid.

In addition, starting from January 1, 2021, the personal income tax paid by the tax agent (employer) at the expense of its own funds in favor of the employee is deducted when calculating corporate income tax. At the same time, the amounts paid by the employer for the employee's benefit are not taken into account when taxing the employee's income.

You can pay the DPV to the UAPF through second-tier banks (STB) or through Kazpost JSC. By the way, some banks provide the opportunity to transfer contributions online (via a mobile application or self-service terminals). In addition, it is possible to submit an application to the employer, on the basis of which the latter will regularly transfer the DPV to the UAPF in favor of the applicant or a third party.

The husband wrote an application for the transfer of part of his savings to private UIP. I worry, but what if they do not justify the trust? What should we do then?

First of all, it should be noted that pension savings may be transferred to the investment portfolio manager in an amount not exceeding the difference between the actual amount of the depositor's pension savings in the UAPF and the threshold of the minimum sufficiency of pension savings or, in the case of a pension annuity agreement with an insurance company providing for lifetime payments, in an amount not exceeding the balance of pension savings in the depositor's account in the UAPF.

Due to the fact that the activity of UIP is a competitive environment, where management companies offer their own terms and investment strategy, we recommend that the depositor study the information about the company in detail before making a decision on the transfer of their savings. Investment declarations and commission information are available on the enpf website.kz in the "Services" section»- "Register of investment portfolio managers".

Investing pension savings is a long-term process, so it is better to evaluate the first results of management not earlier than in a year.

Based on this, the depositor can:

- no more than once a year to submit an application for a change in the UIP for the transfer of their pension savings in trust from one UIP to another UIP;

- submit an application to the UAPF for the return of pension savings held in the trust management of the UIP 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 UIP).

10 calendar days before the depositor reaches the retirement age, his pension savings, taking into account the investment income, will be returned to the management of the National Bank of the Republic of Kazakhstan (if they were previously in the trust management of the UIP) and used for the purposes of making pension payments according to the schedule, concluding a pension annuity agreement or for other purposes provided for by law.

I would like to draw your attention to such points. 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 the 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 UIP and the minimum value of the return on pension assets calculated in accordance with the Law and the regulatory legal act of the ARRFR, the UIP shall reimburse this negative difference from its own capital in the manner and within the time limits established by the regulatory legal act of the ARRFR, for the subsequent transfer of this amount to the Applicant, whose pension savings were in the trust management of this UIP as of the end of the year preceding the year in which the refund is made. At the same time, the specified amount is credited to the individual pension accounts of depositors opened in the UAPF.

The minimum level of return will be calculated based on the weighted average return on pension assets transferred to the management of the PPI operating in the market.

Where can I find out about UIPS that have a license and about the investment income accrued to me?

The register of UIPS that meet the requirements established by the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (ARRFR) is maintained and published monthly on the Internet resource of the ARRFR (www.finreg.kz).

Currently, 6 out of 18 operating in the financial market and having licenses to operate in the securities market (investment portfolio management activities) meet the requirements approved by the ARRFR for the UIP.):

First Heartland Jysan Invest JSC»;

BCC Invest JSC - a subsidiary of Bank CenterCredit JSC»;

JSC " Halyk Global Markets "(BEFORE JSC " Halyk Bank of Kazakhstan»);

JSC "DO Halyk Bank of Kazakhstan" Halyk Finance»;

JSC " First Heartland Capital»;

JSC "Centras Securities".

However, for the transfer of pension savings to the trust management of the specified UIP, it is necessary to have an agreement on the trust management of pension assets, as well as a custodial agreement concluded between the UAPF, the UIP and the custodian bank.

To date, the UAPF has concluded agreements on the trust management of pension assets with:

First Heartland Jysan Invest JSC»,

JSC " Halyk Global Markets "(BEFORE JSC " Halyk Bank of Kazakhstan»),

BCC Invest JSC - a subsidiary of Bank CenterCredit JSC»;

JSC "Centras Securities".

Thus, there are already 4 UIPS in the financial market, with which the UAPF has concluded an agreement on the trust management of pension assets.

Once you have made your choice, you can see how much investment income is accrued from the placement of your pension savings by the management company in the statement from the individual pension account, which can be generated for any period in your personal account on the website www.enpf.kz

I was told that a tax will be deducted from a one-time payment of pension savings, is this true and what is its amount?

Yes, the Tax legislation provides for withholding of income tax in case of early withdrawal of pension savings in order to improve housing conditions and (or) pay for treatment. Pension contributions received on the individual pension account of the depositor are not subject to individual income tax (IIT). Therefore, pension savings are subject to taxation upon payment.

However, when receiving a lump sum pension payment, the depositor is given the right to choose – the PII can be paid in a lump sum or deferred-monthly in equal shares for no more than sixteen years at retirement (according to the schedule established by the UAPF for pension payments).

If the depositor decides to pay the IPN immediately in full, then he must indicate in the application the amount for withdrawal, minus the IPN, in the amount of 10%.

Both amounts are already indicated in the statement provided by the UAPF to the depositor, for his convenience and independent decision - making. The amount specified by the depositor for withdrawal will be transferred from the UAPF to its special account opened with an authorized operator.

I used the EPN to buy an apartment with a mortgage. Can I withdraw some of my retirement savings again if I still have enough to withdraw in the future?

Yes, of course. The rules for the use of one-time pension payments for improving housing conditions in accordance with the legislation of the Republic of Kazakhstan provide that pension savings can be used by citizens an unlimited number of times within the amount of pension savings in the UAPF available for withdrawal for housing, treatment or transfer to management companies.