Kazakhstanis increased their pension savings by KZT1 trillion in a year
Key indicators of UAPF as of September 1
As of September 1, 2022, pension savings in the amount of KZT13.97 trillion were formed on the accounts of contributors of the Unified Accumulative Pension Fund. For the year (01.09.2021- 01.09.2022), the amount increased by KZT1.02 trillion or 7.9%.
The main amount of pension savings was formed at the expense of compulsory pension contributions (CPC) and amounted to KZT13.6 trillion. The amount of pension savings on compulsory occupational pension contributions (COPC) amounted to KZT416.0 billion, the amount of pension savings on voluntary pension contributions (VPC) amounted to about KZT3.0 billion.
Incoming flows, in particular, contributions this year continue to increase. For eight months of 2022, pension contributions in the total amount of about KZT1.1 trillion were received on the accounts of depositors, which exceeded the figure for the same period in 2021 by 29% or KZT246.7 billion. It should be noted that the growth occurred in all types of contributions. Of the total contributions, 95.3% are receipts to the UAPF from the CPC - KZT1.0 trillion (an increase over the past 12 months by 29%), KZT50.1 billion from the COPC (an increase of 37%). KZT1.6 billion (an increase of 293%) was transferred under the VPC.
A significant increase in pension savings was achieved thanks to net investment income, which from January 1 to September 1, 2022 amounted to KZT694.7 billion.
The number of individual pension accounts in the UAPF as of September 1, 2022 amounted to 12.0 million units. The largest number of accounts opened for compulsory pension contributions (CPC) - 10,907,012 units. The number of accounts formed at the expense of the COPC is 581,410 units, the IPSA for accounting for VPC is 346,793 units
Since the beginning of the year, UAPF has paid over KZT1 trillion. Most of the payments were lump-sum pension benefits (LPB) for the improvement of housing conditions and medical treatment - KZT868.3 billion. Age benefits amounted to KZT75.9 billion, inheritance benefits - KZT43.2 billion, payments in connection with leaving for permanent residence outside the Republic of Kazakhstan - KZT34.0 billion, about KZT17.5 billion were transferred to insurance organizations, payments for burial - KZT3.7 billion and disability payments - KZT1.6 billion.
It should be noted that the amount of the average monthly benefit payment according to the schedule from the UAPF (in connection with reaching retirement age) amounted to 29,859 tenge, and the maximum amount of the monthly benefit payment was 707,326 tenge.