Payments from the UAPF are made in accordance with the methodology approved by the resolution of the Government of the Republic of Kazakhstan dated October 2, 2013 No. 1042 (as amended from April 1, 2021). According to this methodology, payments to retired persons are calculated as follows: the amount of pension savings is multiplied by the rate of pension savings payments – 6.5%, then divided by 12. As a result, the amount of monthly payments from the UAPF will be calculated in the first year from which the payment will be received. For a certain category of recipients: persons with disabilities of Group 1 or 2 established indefinitely, as well as persons who have worked in harmful and dangerous industries, whose savings have been accumulated for at least sixty months at the expense of mandatory professional pension contributions, the methodology for calculating pension payments provides for correction and increase coefficients.
In the following years, the amount of the monthly pension payment will be increased annually by the indexation rate of pension payments – 5%.
Thus, from January 1, 2022, payments to retired pensioners from April 1, 2021 increased by 5%. In the period from January 1, 2018 to April 1, 2021, persons who exercised the right to receive pension payments from the UAPF received payments according to the old method. That is, the amount of pension savings was multiplied by the current value factor and divided for 12 months. However, since January 1, 2022, their last year's pension payments have also been indexed by 5%.
It should be noted that the monthly pension payment from the UAPF is made in the amount of at least 70% of the subsistence minimum. Accordingly, from January 1, 2022, the minimum payment from the UAPF amounted to 25,212.60 tenge.
If the amount of pension savings on the day of applying for payment does not exceed twelve times the minimum pension established by the law on the Republican budget for the corresponding financial year, this amount is paid to the recipient from the UAPF once (in 2022-555,624 tenge = 12 * 46,302 tenge).
For pensioners who have realized the right to receive payments before January 1, 2018, the calculation for 2022 is as follows: the annual amount of their pension payment consists of the maximum value of thirty times the minimum pension (30 x 46 302 = 1 389 060 tenge in 2022) and the increase in the amount of pension savings by the coefficient of the current value of pension savings at the appropriate age of the recipient. Payments are made according to the previously selected schedule.
We remind you that pension payments from the UAPF are made until the pension savings in the individual pension account are exhausted.
The UAPF was established on August 22, 2013 on the basis of NPF GNPF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan through the state property and privatization committee of the Ministry of Finance of the Republic of Kazakhstan. Trust management of pension assets of the UAPF is carried out by the National Bank of the Republic of Kazakhstan. Since January 1, 2016, the functions of developing proposals to improve the efficiency of pension asset management have been transferred to the National Fund Management Council headed by the president of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts mandatory pension contributions, mandatory professional pension contributions, voluntary pension contributions, personal accounting of pension payments, pension savings and payments, provides the Depositor (recipient) with information about the state of pension savings (read more www.enpf.kz on the site).