On May 2, 2026, the “Blooming of Sievers Apple Tree” festival, dedicated to a unique natural phenomenon, was held at a high organizational level in the territory of the Zhongar-Alatau State National Nature Park, near the village of Topolevka in the Sarkand district of the Zhetysu region.
The large-scale event aimed to enhance the tourism potential of the region, develop ecological tourism, promote natural heritage, and foster a culture of conservation of the Sievers apple tree, a species of global significance.
The festival attracted more than 7,000 visitors. In addition, over 50 bloggers and influencers took part in the event, contributing to the promotion of Zhetysu’s tourism potential and the festival’s visibility among a wider international audience.
It is worth noting that the Zhetysu region is one of the key natural habitats of the wild Sievers apple tree, considered the ancestor of all cultivated apple varieties in the world. According to scientists, approximately 48% of the global natural population of this unique species is concentrated in this region.
As part of the festival, guests were offered a rich program, including visits to the blooming Sievers apple orchards, a plein air art competition, cultural and mass events, national sports games, craft exhibitions, workshops, and a concert program.
A significant part of the program was an international creative project featuring artists from Russia, China, Uzbekistan, Kyrgyzstan, Turkey, and Kazakhstan. Participants presented their works and were awarded for their contribution to cultural exchange and the promotion of the region’s natural heritage through art.
The main musical guests of the festival were Kazakh performers Bayansulu and Kuandyk Rakhym, whose performances became a vibrant highlight of the evening program.
Included in the national calendar of events of the Republic of Kazakhstan, the festival once again confirmed its importance as a key cultural and tourism platform contributing to the development of domestic and inbound tourism, the strengthening of the Zhetysu region’s tourism image, and the international promotion of its unique natural potential.
В Жетісу земельные участки, расположенные на побережье Балхаша, выставлены на открытый аукцион для инвесторов. Это один из конкретных шагов, направленных на развитие побережья, - сообщает пресс-служба акима области Жетісу.
Ранее был разработан Генеральный план и Проект детального планирования прибрежной зоны Балхаша, в рамках которых проведены работы по обеспечению необходимой инженерной инфраструктурой. В частности, дорога от города Талдыкоргана до Балхаша была заасфальтирована, проложены все необходимые инженерные сети — водоснабжение, электроснабжение и канализация. Сейчас местные власти ведут работу по привлечению инвесторов для строительства современных зон отдыха.
- Земельные участки площадью 12, 24 и 36 соток будут выставлены на открытый аукцион для всех инвесторов. Это позволит оперативно запускать успешные проекты. Открывается возможность реализации проектов любого масштаба — от небольших гостиниц до крупных рекреационных комплексов. Кроме того, участки площадью 2 гектара будут предоставляться крупным инвесторам по решению Регионального координационного совета. Для получения дополнительной информации можно обратиться в акимат Сарканского района или позвонить в колл-центр по номеру 8 (72839) 22-99-2, -сообщил аким Сарканского района Галымжан Маманбаев.
Отметим, что купальный сезон на озере Балхаш длится с 1 июня по 1 сентября, то есть в течение всего лета есть возможность принимать туристов. Береговая зона отлично подходит для пляжного отдыха, водных видов спорта и рыбалки. В настоящее время количество туристов за сезон достигает 50 000 человек, а в будущем этот показатель имеет потенциал увеличиться до 500 000 человек.
Пресс-служба акима области Жетісу.
As of May 1, 2025, since February 1, 2024, 97,615 applications have been executed (transferred to authorized operators for crediting to applicants' bank accounts) for an amount of over USD 11.49 million. Of these, 56,937 applications for an amount of over USD 6.70 million have been executed for the purpose of improving housing conditions, and 40,678 applications for an amount of approximately USD 4.79 million have been executed for paying for education. Let us remind you that the recipient of target savings (TS) has the right to use the entire amount or part of it, the remainder of the unused amount remains in the target savings account (TSA).
The most popular sub-goals for using funds to improve housing were: replenishment of a contribution to housing construction savings for further accumulation (55,539 applications were completed for a total of approximately 6.55 million US dollars), making a down payment to obtain a mortgage loan for the purchase of housing - 442 applications for a total of approximately 49.94 thousand US dollars, and the purchase of housing in civil transactions (final settlement) - 370 applications for a total of more than 38.57 thousand US dollars.
The most popular sub-goals in terms of paying for education were: payment for educational services of educational organizations located in the Republic of Kazakhstan, in installments (for each academic period or academic year) or in full at one time (for the entire period of study) (35,617 applications were completed for a total of approximately 4.24 million US dollars), replenishment of an educational savings deposit under an agreement on an educational savings deposit (3,789 applications were completed for a total of over 412.21 thousand US dollars), payment for educational services of foreign educational organizations in installments (for each academic period or academic year) or in full at one time (for the entire period of study) (1,067 applications were completed for a total of over 114.96 thousand US dollars).
Detailed information on payments of targeted savings for the purpose of improving housing conditions and (or) paying for education by authorized operators and regions can be found on the website enpf.kz.
Let us remind you that according to the program "National Fund for Children", 50% of the investment income of the National Fund of the Republic of Kazakhstan is distributed once a year among children who are citizens of the Republic of Kazakhstan who were born in 2006 and later. For 2023, all recipients of the TS were credited with 100.52 US dollars, for 2024 - 129.38 US dollars. Children who received their first funds from the National Fund in 2023, with the exception of persons born in 2006, were credited with investment income in the amount of 3.04 US dollars this year. As a result, the target savings of a child born in 2006 amount to 100.52 US dollars, and those born in 2007 – 232.94 US dollars.
Adult citizens must independently obtain information about their TS through their personal account on the Internet resources of the UAPF or e-government, and then contact an authorized operator to open a bank account in US dollars and submit an online application for payment of TS to improve housing conditions and (or) pay for education.
You can familiarize yourself with the terms of the program, get instructions, and answers to your questions on the website kids.enpf.kz and on the БЖЗҚ ЕНПФ YouTube channel. We also note that a video instruction on the implementation of the "National Fund for Children" program, the algorithm of actions before and after the child reaches adulthood is posted on the БЖЗҚ ЕНПФ YouTube channel at the link: https://www.youtube.com/watch?v=HHQNAxfskX8.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz)
Pension and target savings (accrued to minor citizens of the Republic of Kazakhstan within the framework of the program "National Fund for Children") are the property of an individual in whose name the account in the UAPF is opened. Accordingly, these savings are inherited.
At the same time, before entering into inheritance rights, family members of a deceased person who has savings in the UAPF at the expense of compulsory pension contributions (CPC) and (or) compulsory occupational pension contributions (COPC), and (or) voluntary pension contributions (VPC) may make a one-time payment for burial at the expense of the CPC, COPC, VPC of the deceased person within the amount of 94-fold monthly calculation indicator established for the relevant financial year by the law on the republican budget, but not more than the available funds in the account of the deceased person. If the remaining savings in the deceased person’s account after a one-time payment for burial amounts to an amount not exceeding the minimum pension established for the relevant financial year by the law on the republican budget, this remainder is paid as a burial payment to the family members of the deceased.
The amount of savings from the CPC, COPC and VPC remaining after one-time payment for burial amounts to an amount not exceeding the minimum pension established for the relevant financial for burial, is inherited in the manner prescribed by law.
Please note that the legislation of the Republic of Kazakhstan (hereinafter referred to as the RK) does not provide for payment for burial at the expense of targeted savings.
According to the Civil Code of the RK, in order to receive inherited pension and (or) targeted savings, the heir must submit an application to a notary or an official authorized by law at the place of opening of the inheritance for acceptance of the inheritance. It is worth considering that this must be done within six months from the date of opening of the inheritance, i.e. within six months from the date of death of the testator.
At the same time, to simplify the procedure for inheriting savings, as well as to optimize interaction between the Ministry of Justice of the Republic of Kazakhstan, the Republican Notary Chamber and the UAPF, an Agreement was concluded on the interaction of the state information system “Unified Notary Information System “E-Notariat” (UNIS) and the UAPF information system. As part of this agreement, since February 2019, notaries, if there is an inheritance case registered in the UNIS, send online requests to the UAPF to obtain information about the balances and movements of money in the accounts of deceased persons, without sending written requests, which has optimized the processing of issuing a certificate of inheritance. After receiving a certificate of the right to inheritance, the heir has the right to provide the necessary package of documents to any branch of the UAPF. In addition to personal application, documents for receiving inheritance payments can be provided through an attorney or by mail.
If the documents submitted to the UAPF, including a death certificate of a person who has savings in the UAPF and died outside the Republic of Kazakhstan, a certificate of inheritance rights are issued by foreign organizations and institutions, as well as notarial actions in terms of certifying the accuracy of a copy of a document with the original, the authenticity of the signature of the recipient of payments on the application, certification of a power of attorney are made in a foreign state, then these documents must be translated into the state or Russian language and legalized, except in cases where otherwise established by international treaties ratified by the Republic of Kazakhstan. If the recipient of a one-time payment for funeral or the heir of a deceased person who has savings in the UAPF is a foreigner, including the heir’s attorney/legal representative of the recipient, then as an identification document of the recipient/authorized person/legal representative, a foreign passport is presented to the UAPF, also translated into the state or Russian language and, if necessary, notarized and legalized, except in cases where otherwise established by international treaties ratified by the Republic of Kazakhstan.
After submitting a package of necessary documents, the UAPF makes payments of savings within the time limits established by law.
Please note that the list of necessary documents for processing applications for the assignment of payments in connection with death (for funeral or heirs) can be found on the UAPF website. In addition, the procedure for submitting documents by heirs to receive savings is demonstrated on the UAPF you-tube channel.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz)
The topic: “New in pension legislation: ECPC.”
UAPF specialists will talk about the introduction from January 01, 2024. Employer's compulsory pension contributions (ECPC), will explain which category of employees will be covered by them and will receive an additional funded pension benefit upon retirement.
In addition to the main agenda, participants will be able to receive qualified advice on all issues regarding the funded pension system.
Registration is required to participate in the event.
At the specified time, please follow the link (https://enpf.webex.com/weblink/register/rd901a0f14ed8f8ab4027ac54483636e3 ).
Event number: (2523 029 6057)
Event password: (15032024)
As of December 1, 2023, pension savings in the amount of KZT17.4 trillion were formed in the individual accounts of contributors (beneficiaries) of the Unified Accumulative Pension Fund. Since the beginning of the year, their increase as of December 1, 2023 amounted to KZT2.7 trillion (18.4%). Compared to the same date last year, the volume of pension savings increased by almost KZT3 trillion or 20.5%.
The increase is formed taking into account incoming flows in the form of contributions and investment income, as well as outgoing flows in the form of pension payments, including scheduled and one-time payments for housing and treatment, for the purposes of inheritance, burial, travel for permanent residence, etc.
The amount of pension contributions for 11 months of 2023 amounted to KZT1,927.3 billion, which is 25.4% or KZT390.4 billion higher than last year. Let us note that the increase compared to the same period last year occurred in CPC – 25.5%, COPC – 23.9%, VPC – 0.8%.
96.8% of the savings of Kazakhstanis are formed through compulsory pension contributions (CPC). As of December 1, 2023, the volume of CPC amounted to KZT16.8 trillion (an increase over the year - 20.3%, since the beginning of the year - 18.2%). The amount of pension savings for compulsory occupational pension contributions (COPC) amounted to KZT553.3 billion, having increased by 26.9% since December 1 last year, and by 24.2% since the beginning of this year. The largest increase (52.3% over the year, 43.1% since the beginning of the year) was shown by savings on voluntary pension contributions (VPC), the volume of which amounted to KZT5.1 billion.
Net investment income accrued to individual pension saving accounts of UAPF contributors since the beginning of the year amounted to about KZT1,245.7 billion.
Outgoing flows in the form of benefits from the UAPF since the beginning of the year as of December 1, 2023 amounted to about KZT531.4 billion. At the same time, a significant part of this amount consists of lump sum pension benefits (LSPB) for improving housing conditions and medical treatment - more than KZT255.4 billion, which is 71.7% lower than last year.
Payments in connection with reaching retirement age amounted to KZT139.6 billion.
Inheritance payments were also made - KZT48.3 billion, payments in connection with leaving for permanent residence outside the Republic of Kazakhstan - KZT37.2 billion, payments to persons with disabilities - KZT2.5 billion, funeral payments - KZT6.8 billion. KZT41.4 billion were transferred to insurance organizations.
Note that the amount of the average monthly benefit according to the schedule from the UAPF (in connection with reaching retirement age) was 32,138 tenge, and the maximum amount of the monthly benefit was 742,692 tenge. Let us remind you that for the same period last year, the average monthly benefit according to the schedule from the Unified Pension Fund was 29,876 tenge, and the maximum monthly benefit amount was 707,326 tenge.
The number of individual pension saving accounts in the UAPF as of December 1, 2023 is 12.3 million units, of which: 11.1 million - for CPC, 637,958 - for COPC, 393,844 - for VPC.
All relevant information on statistical data on pension assets, including by region of the republic, is posted on the enpf.kz website in the “Indicators” section.
The Unified Accumulative Pension Fund for 11 months of the current year (from 01/01 to 01/12/2023) provided 22.8 million services to its investors, of which more than 15.8 million in electronic format, 5.1 million in automatic format. 1.2 million contributors were served face-to-face, including 1.0 million people who contacted the Fund’s offices directly.
One of the most popular services remains the issuance of statements on the status of an individual pension saving account (IPSA) - since the beginning of the year, more than 20.8 million have been issued. Of these, about 15.8 million (or 69.3%) are in electronic form, and about 4.4 million (19.4%) were sent automatically to the addresses of contributors and beneficiaries who had previously chosen the “e-mail” method of information and 0.6 million statements were provided at the Fund’s offices.
Let us remind you that in the personal account on the website and in the mobile application of the UAPF, contributors (beneficiaries) have the opportunity to use such services as making changes and additions to their details, obtaining a certificate of availability of an individual pension insurance system, submitting an application for pension benefits in connection with the determination of disability 1 or 2 groups for an indefinite period, tracking the status of an application for benefit, transferring part of the savings to an investment portfolio manager, predictive calculation of a future pension using a pension calculator, etc. 24/7 anywhere in the world.
Over the past 11 months since the beginning of the year, 322 thousand individual pension saving accounts (IPSA) were opened automatically in the UAPF information base. This became possible thanks to the integration of the UAPF information systems and the State Database “Individuals”, from where the Fund receives identification data about new contributors (full name, year of birth, etc.) using IIN.
During the reporting period, a total of 309 thousand applications were accepted to change details, of which 239 thousand were received at the Fund’s offices.
UAPF field service departments: mobile agents and mobile office crews provided 133 thousand services. As part of outreach efforts, 32,976 road presentations were held, attended by 715,000 people. The media published 42,720 materials based on information from the UAPF.
Let us remind you that any company can apply for a presentation and consultation on the funded pension system with a visit to the office, for which you just need to call the call center at 1418 or contact through the Fund’s website or mobile application.
For the UAPF, it is always a priority to provide high-quality consulting and information services to the Fund’s contributors (beneficiaries). As of December 1, 2023, the number of requests from contributors through feedback channels amounted to 688 thousand.
Consulting services of the UAPF can be obtained through messengers (chat bot on WhatsАpp and Viber at +7 777 000 14 18), call center at 1418 (calls within Kazakhstan are free), on the corporate website enpf.kz, as well as on official pages UAPF on social networks Instagram, Facebook, VKontakte, Twitter, Telegram, Odnoklassniki.
UAPF JSC presents a report on the management of pension assets by the National Bank of the Republic of Kazakhstan (NBRK) and investment portfolio managers (IPM) as of December 1, 2023 on the website enpf.kz. A detailed report on investing pension savings is posted on the enpf.kz website in the “Indicators - Investment Activity” section. The total volume of pension assets as of December 1, 2023 amounted to about KZT17,364.76 billion. At the same time, the pension assets of the UAPF, which are in trust management of the National Bank of the Republic of Kazakhstan, amounted to KZT17,347.35 billion. Pension assets managed by IPM amounted to KZT17.41 billion.
Investment portfolio of pension assets managed by the NBRK
The main directions for investing pension assets of the NBRK as of December 1, 2023 are as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan - 47.55%, bonds of quasi-public companies - 9.94%, bonds and deposits of second-tier banks of the Republic of Kazakhstan - 6.03%, deposits of the NBRK - 2.67%, securities of international financial organizations - 2.11%, government securities of foreign states - 1.46%.
The investment portfolio, broken down by the currencies in which financial instruments purchased from pension assets are denominated, as of December 1, 2023, looks like this: investments in national currency - 69.29%, in US dollars -30.67%, in other currencies - 0.04% of the portfolio of pension assets.
From the analysis of the structure of income received, it follows that income in the form of remuneration on securities, including on placed deposits and reverse repo operations and from market revaluation of securities, amounted to KZT1,286.94 billion, for assets under external management – KZT2.12 billion, other income – KZT4.88 billion. The revaluation of foreign currency was negative and amounted to KZT14.50 billion.
Thus, due to the diversification of the investment portfolio of pension assets by instruments, industries and currencies, the total income as of December 01, 2023 from the beginning of the year is positive.
As a result of investment activities, as well as due to the volatility of foreign exchange rates and changes in the market value of financial instruments, the amount of accrued investment income as of December 1, 2023 from the beginning of 2023 amounted to KZT1,279.44 billion.
The return on UAPF pension assets distributed to the accounts of contributors (beneficiaries) from the beginning of 2023 amounted to 8.11% with inflation of 8.9%.
At the same time, as of December 1, 2023, the return on pension assets for the last 12 months (from December 2022 to November 2023) for UAPF contributors (recipients) was 8.9%.
Let us recall that in the medium and long term, a positive real (exceeding accumulated inflation) return on pension savings is ensured.
The detailed structure of the investment portfolio of financial instruments managed by the National Bank of Kazakhstan, indicating the issuers and an overview of investment activities are posted on the official website of the UAPF. Let us recall that in Kazakhstan there is a model of state guarantee of the safety of pension savings. In accordance with Article 217 of the Social Code of 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 receipt of the right to pension benefits.
Investment Portfolio Managers
The total amount of funds managed by the IPM is KZT17.41 billion.
As of December 1, 2023, pension assets under trust management of Jusan Invest JSC amounted to KZT5.4 billion.
The company's most significant investments: government securities of the Ministry of Finance of the Republic of Kazakhstan - 40.89%, shares of Exchange Traded Funds (ETF) - 22.71%, cash in investment accounts - 18.77%, repo - 15.88%. Note that 67.90% of the portfolio is presented in tenge; 32.10% - in US dollars.
As a result of investment activities, as well as due to the volatility of foreign exchange rates and changes in the market value of financial instruments, the amount of accrued investment income for 2023 as of December 1 amounted to KZT459.49 million. The return on pension assets was 10.7%.
The detailed structure of the investment portfolio of financial instruments managed by Jusan Invest JSC, indicating the issuers, is presented on the UAPF website.
As of December 1, 2023, pension assets under trust management of Halyk Global Markets JSC amounted to about KZT3 billion.
The main investments in the portfolio structure are as follows: “reverse repo” (no more than 90 calendar days) – 39.91%, bonds of quasi-public organizations of the Republic of Kazakhstan – 13.65%, equity instruments of foreign issuers (ETF units) – 8.84%, bonds of microfinance organizations – 8.62%, securities having the status of government issued by the central governments of foreign countries – 8.45%. Investments in national currency accounted for 71.51% of the portfolio, in US dollars - 28.49%.
As a result of investment activities, the amount of accrued investment income as of December 1 from the beginning of 2023 amounted to KZT354.77 million. The return on pension assets amounted to 28.61% from the beginning of activity and 13.86% from the beginning of 2023.
The detailed structure of the investment portfolio of financial instruments managed by Halyk Global Markets JSC, indicating the issuers, is presented on the UAPF website.
Pension assets of the UAPF, which are in trust management of BCC Invest JSC as of December 1, 2023, amounted to KZT2.6 billion.
Among the main areas of investment, the following can be identified: bonds of quasi-public organizations of the Republic of Kazakhstan - 26.9%, REPO - 22.34%, government bonds of the Republic of Kazakhstan - 19.05%, shares (ETF on indices) - 13.93%, US government bonds – 5.52%, cash in investment accounts – 4.27%, MFO bonds – 3.32%, corporate bonds of resident issuers of the Republic of Kazakhstan – 3.01%, portfolio. 73.06% of the portfolio was invested in instruments in national currency, and 26.94% in US dollars.
As a result of investment activity since the beginning of the year, as of December 1, 2023, the amount of accrued investment income amounted to KZT176.27 million. The return on pension assets was 11%.
The detailed structure of the investment portfolio of financial instruments managed by BCC Invest JSC, indicating the issuers, is presented on the UAPF website.
Pension assets of the UAPF, which are in trust management of Centras Securities JSC, as of December 1, 2023 amounted to KZT987.4 million.
34.51% of assets are invested in government securities of the Ministry of Finance of the Republic of Kazakhstan, bonds of quasi-public organizations - 19.32%, bonds of second-tier banks of the Republic of Kazakhstan - 16.79%, cash in investment accounts is 2.45%; REPO – 9.02%, shares and depository receipts of issuers of the Republic of Kazakhstan – 8.65%, US government bonds – 8.23%. 75.94% of the portfolio was invested in instruments in national currency, and 24.06% in US dollars.
As a result of investment activities and changes in the market value of financial instruments, the amount of accrued investment income as of December 1, 2023 from the beginning of the year amounted to KZT89.83 million. The return on pension assets since the beginning of 2023 has amounted to 9.11%.
The detailed structure of the investment portfolio of financial instruments managed by Centras Securities JSC, indicating the issuers, is presented on the UAPF website.
As of December 1, 2023, pension assets held in trust by Halyk Finance Subsidiary of the Halyk Bank of Kazakhstan JSC amounted to KZT5.4 billion.
The main investments in the portfolio structure are as follows: “reverse repo” (no more than 90 calendar days) – 51.69%, cash in accounts – 12.98%, bonds of quasi-public organizations of the Republic of Kazakhstan – 9.77%, government securities of the Ministry of Finance of the Republic of Kazakhstan – 9 .13%, shares of Exchange Traded Funds (ETF) – 6.09%, government securities of foreign countries – 4.49%.
85.18% of the portfolio was invested in instruments in national currency, in US dollars - 13.82%, in euro currency - 0.99%.
As a result of investment activities, the amount of accrued investment income as of December 1 from the beginning of 2023 amounted to KZT153.15 million. The return on pension assets since the beginning of 2023 has amounted to 15.29%.
The detailed structure of the investment portfolio of financial instruments managed by Halyk Finance Subsidiary of the Halyk Bank of Kazakhstan JSC, indicating the issuers, is presented on the UAPF website.
Let us note that after receiving pension assets from the UAPF, the IPM invests them in the permitted financial instruments specified in the Rules for the implementation of investment portfolio management activities, approved by the resolution of the Board of the National Bank of the Republic of Kazakhstan dated July 1, 2023 No. 62, and provided for in the Investment Declaration of the IPM. When transferring pension savings to the management of the pension insurance company, the state guarantee is replaced by a guarantee from the management company to ensure a minimum level of return on pension assets. The minimum level of return is calculated based on the weighted average return of pension assets transferred to the management of the pension insurance system operating on the market.
Let us remind you that from July 1, 2023, contributors can transfer to trust management no more than 50% of pension savings at the expense of compulsory pension contributions (CPC) and compulsory occupational pension contributions (COPC), without taking into account the minimum sufficiency threshold for investment portfolio managers (IPM), by choosing such a company yourself. Contributors who have voluntary pension savings can transfer them to the IPM in the amount of 100%.
Net investment income accrued to the accounts of UAPF contributors for the period from January to November 2023 amounted to more than KZT1.2 trillion, which exceeds the same period last year by KZT468.54 billion or 60.3%.
The return on pension assets of the UAPF under the management of the National Bank of the Republic of Kazakhstan (NBRK) as of December 01, 2023 from the beginning of the year amounted to 8.11%.
Investment income consists of income in the form of remuneration on financial instruments (securities, deposits and other transactions), market and currency revaluation of financial instruments, income on assets under external management, etc. National Bank of the Republic of Kazakhstan and investment portfolio managers (IPM), who are managers of pension assets, in order to obtain investment income, place pension assets in various financial instruments of various sectors of the economy in various currencies in the Republic of Kazakhstan and abroad. Diversification ensures safety and sustainable return on pension savings. Thus, due to portfolio diversification, positive investment income was earned over 11 months.
Please note that pension savings are long-term investments and it is advisable to analyze the amount of investment income for a period of at least 1 (one) year. Short-term data (daily, monthly, etc.) are not indicative, because depend on daily market conditions.
Let us remind you that in Kazakhstan there is a unique guarantee of the safety of compulsory pension contributions, taking into account the level of inflation. Even if the return decreases in a particular period, which affects the accumulated return of the contributor upon the onset of the right to pension benefit payments, compensation for the difference is guaranteed by the state.
The entire system of investment management and accounting of pension assets is transparent: each contributor has the opportunity to see his investment income in his personal account on the enpf.kz website or in the mobile application.
Information on the investment management of UAPF pension assets and on the financial instruments in which UAPF pension assets are placed is published on the official UAPF website (www.enpf.kz) in the “Indicators/Investment activities” section.
A lot of interesting and useful information, including interviews with accumulative pension system experts on investing pension assets, is on the БЖЗҚ ЕНПФ YouTube channel.
From January 1, 2024, payments from the UAPF to pensioners who retired after January 1, 2018 increased by 5%.
Pension benefits from the Unified Accumulative Pension Fund are made in accordance with the Methodology for calculating the amount of pension benefits, approved by Decree of the Government of the Republic of Kazakhstan dated June 30, 2023 No. 521 (hereinafter referred to as the Methodology).
In accordance with the Methodology, pension benefit payments to citizens retiring are calculated as follows: in the first year of receiving payments, the amount of pension savings is multiplied by the pension savings payment rate of 6.5% and divided by 12.
For beneficiaries of certain categories: people with disabilities of 1 or 2 groups, established indefinitely, as well as people who worked in hazardous industries, whose savings were formed through compulsory occupational pension contributions for a total of at least sixty months, the Methodology provides for correction factors that increase the amount monthly pension benefit. For persons satisfying more than one of the above conditions, the adjustment factor with the highest value is applied.
At the same time, monthly pension benefits from the UAPF are paid in the amount of at least 70% of the subsistence minimum (hereinafter referred to as the minimum subsistence minimum) established for the corresponding financial year by the law on the republican budget (in 2024, the minimum subsistence level is 43,407 tenge). Thus, since the beginning of the year, the amount of the minimum benefit from the Unified Pension Fund amounted to 30,384.9 tenge (70% * 43,407 tenge).
In subsequent years, the size of the monthly pension benefit increases by the indexation rate of pension benefits in the amount of 5%.
If the amount of pension savings on the date of payment from the UAPF 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 beneficiary from the UAPF in a lump sum (in 2024, the size of the one-time pension payment is 694,236 tenge = 12 * 57,853 tenge).
For persons who exercised their right to receive pension benefits from the UAPF before January 1, 2018, pension benefits are calculated according to the methodology in force at the time of pension benefits: the amount of the annual pension benefit is calculated and does not exceed the largest of thirty times the minimum pension (in 2024: 1,735,590 tenge =30*57,853 tenge) and the value calculated as the product of the amount of pension savings by the coefficient of the current value of pension savings at the corresponding age of the beneficiary.
Pension benefits from the UAPF are paid until the pension savings in the individual pension saving account are exhausted.