Pension savings of Kazakhstanis exceeded 11 trillion tenge

Key indicators of JSC "Unified Accumulative Pension Fund"
as of March 1, 2020
Pension assets of UAPF JSC, one of the most important financial institutions of Kazakhstan, in the first two months of operation in 2020 increased by 283 billion tenge. Thus, the pension savings of our citizens have reached over 11 trillion, an increase of 3% in two months.
The main amount of pension savings was formed on compulsory pension contributions (OPV) and amounted to 10.8 trillion tenge, having increased over the past 12 months by 17%. The amount of pension savings on compulsory professional pension contributions (CPPV) amounted to 257 billion tenge (an increase of 25%), the amount of pension savings on voluntary pension contributions (VSP) amounted to almost 2 billion tenge (an increase of 6%).
Note that the total number of individual pension accounts for all types of contributions of UAPF JSC exceeded 10 million, or rather - 10 498 852 units (excluding technical contracts: without IIN, in the absence of full details). The growth since March last year was 3%. Most of the ISPs are compulsory pension contributions - 9.9 million (3% growth), followed by compulsory professional pension contributions - 514 thousand accounts (6% growth). The largest increase is observed in voluntary pension contributions; as of March 1, 2020, the UAPF has 55,221 DPA accounts, which is 12% more than in 2019.
It is important to mention the work of the UAPF under the so-called technical contracts, which include the IRS of unidentified contributors (recipients) who do not have an individual identification number (IIN), as well as incorrect details are indicated in the last name, first name, patronymic and date of birth (IRS without IIN). From March 1, 2019 to March 1, 2020, UAPF employees managed to identify more than 20 thousand such accounts, and reduce their total number by 11%. Thus, as of March 1 of this year, 186.8 thousand technical contracts remain in the UAPF.
Average savings on individual pension accounts of contributors (recipients) on OPV (excluding technical agreements) amounted to 1.11 million tenge, which is 12% higher than the same indicator of the previous year.
Pension contributions in the total amount of 175.2 billion tenge were received on the accounts of contributors for 2 months of 2020, which exceeded the indicators for the first 2 months of 2019 by 20%. Payments amounted to 32.1 billion tenge, most of which accounted for payments for age (12.2 billion tenge), for leaving for permanent residence outside the Republic of Kazakhstan (8.4 billion tenge), transfers to insurance organizations (5.4 billion tenge), heirs (5.2 billion tenge). Net investment income was credited to accounts of depositors (recipients) in the amount of 139.9 billion tenge.