1. Hello, just a month ago I became an individual entrepreneur and now I sell office supplies. I used to work in a large company and made mandatory pension contributions for me, but at the moment I quit it and only work for my sole proprietor. This raises the question, how much should I contribute to the UAPF?
For individuals engaged in private practice and individual entrepreneurs, mandatory pension contributions in their favor that are payable to the unified accumulative pension Fund are set at the rate of 10 percent of the income received, but not less than 10 percent of the minimum wage and not more than 10 percent of the 50-fold minimum wage. Recall that in 2020, the minimum wage is 42,500 tenge.
At the same time, the income is determined independently by a person engaged in private practice, as well as by an individual entrepreneur for calculating mandatory pension contributions to the unified accumulative pension Fund in their favor. In case of temporary lack of income, private practitioners and individual entrepreneurs are entitled 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 an individual entrepreneur, you have become a contribution transfer agent. The transfer of mandatory pension contributions is made by the agent via 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. Mandatory pension contributions are paid in cash or by Bank transfer in accordance with the procedure established by the Law of the Republic of Kazakhstan "on payments and payment systems".
2. Good day! This year, due to my difficult financial situation, I had to apply to a micro-credit organization and get a loan from them. Now I can't pay it, I only have enough money for my daily needs, and they threaten to take me to court. Please tell me who besides me can get a statement from the pension Fund and to learn about my contributions? Thank you in advance.
The secret of pension savings, according to article 57 of the law "on pension provision in the Republic of Kazakhstan", can be disclosed to the depositor who makes pension contributions, the recipient, or any third party only on the basis of the written consent of the depositor (recipient). However, if necessary, certificates on the balance and movement of money on an individual pension account can be issued:
1) to the bodies of inquiry and preliminary investigation - in criminal cases that are under their production;
2) to courts - on the cases which are in their production on the basis of definition of court;
3) bailiffs – on the basis of the enforcement documents in their proceedings on the basis of the decision of the bailiff authorized by the court;
4) state revenue bodies - on issues related to the calculation, retention (accrual) of mandatory pension contributions, mandatory professional pension contributions of the audited person;
5) to the Prosecutor-on the basis of the resolution on carrying out an inspection within its competence on the material under consideration by it;
Besides these, information can be provided to the authorized body on the issues raised in connection with the statement of the depositor (recipient) or in connection with the carrying out of inspections of the activities of the single accumulation pension Fund, voluntary accumulation pension Fund; authorized body for financial monitoring; representatives of the depositor (recipient) on the basis of a notarized power of attorney or a court decision; the Central Executive authority; auditing organizations conducting annual mandatory auditing of the unified accumulation pension Fund; PSC – for the provision of public services based on the application of the depositor (recipient).
3. I learned from the news that in the future they want to make a joint annuity for the spouses, which raises another question: when you divorce your spouse, pension savings can be considered jointly acquired property or not?
As you know, according to the Code of RK "On marriage (matrimony) and family", the property acquired by spouses during marriage is their joint property; possession, use and disposal of community property made by mutual consent of the spouses. However, pension assets are classified as property rights. That is, a depositor who owns pension savings cannot use and dispose of them, nor can his spouse. These powers become available to the depositor at the time of their receipt by virtue of reaching the retirement age or other grounds provided for by law. Thus, pension savings held by UAPF JSC and not received by the depositor cannot be recognized as common property of the spouses.
4. Hello, I see how even well-known global companies are losing money during the coronavirus pandemic. How secure are my retirement savings? Are there any guarantees that I won't lose my savings tomorrow?
There is no reason to worry, because Kazakhstan's savings system is different in that we have a unique system of state guarantees for the safety of pension savings. Guarantee the safety of pension assets is also ensured by the fact that all savings accumulated in the Fund, whose shareholder is the government of the Republic of Kazakhstan, as Trustee 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 mandatory pension contributions and mandatory professional pension contributions to the UAPF in the amount of contributions actually made, taking into account the level of inflation at the time of receiving the right to pension payments. Calculation and payment of the difference between the amount of actually paid mandatory pension contributions, mandatory professional pension contributions, taking into account the level of inflation, and the amount of pension savings is carried out by NAO State Corporation "Government for citizens "(State Corporation). In other words, the State Corporation calculates the amount of all listed contributions with the level of inflation for the entire period of being in the accumulative pension system and compares it with the pension savings on the individual pension account of the depositor. Information about the amount of the remaining pension savings on the specified date is provided by the UAPF. If the balance of pension savings is lower than the calculated amount of contributions, taking into account the level of inflation, the state reimburses this difference. This means that depositors ' savings are reliably protected and it does not depend on how events in the financial markets develop and the situation with investment income develops.
5. I recently read that in addition to mandatory contributions to the UAPF, there are also voluntary pension contributions. What is their advantage?
Voluntary pension contributions (VPS) are money that a depositor makes on their own initiative to the UAPF, either for their own benefit or to the account of another recipient of pension payments. DPA can be performed by both individuals and legal entities. Even minors can enter into a contract on DPV. But in this case, the legal representative must provide the necessary documents.
One of the advantages of DPS is that the depositor can independently determine their size and frequency. In addition, your savings, as well as mandatory pension contributions, are credited with investment income, which allows you to increase your assets. A nice bonus will be the fact that you can receive payments from voluntary pension contributions starting from the age of 50.
You can open a DPV account in your favor on the website enpf.kz in the section "Electronic services" 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 app or terminals.
If the depositor enters into a contract on the DPA in their favor, then only their identity card is sufficient. If in favor of a third party, you will need documents proving the identity of both. Legal entities provide a set of documents, which is presented on the website enpf.kz.
It should be noted that as of October 1, 2020, more than 56.5 thousand individual pension accounts were opened in the UAPF. They have accumulated more than 2.14 billion tenge.