On the Open Doors Day, the Unified Accumulative Pension Fund traditionally received its guests to talk about the funded pension system and answer any questions of interest. The focus of the open day agenda was the topical and exciting topic for many Kazakhstanis: "What benefits can be received from the UAPF and how to calculate your future pension?"
UAPF employees held it in the virtual space online.
At the online meeting, we talked about pension payments from the UAPF, where the Fund’s specialists spoke about their types: in connection with reaching retirement age; establishing disability of the first and second groups, if the disability is established indefinitely; the death of the CPC contributor, an individual for whom the COPC, VPC, are transferred; departure to a permanent place of residence outside of Kazakhstan; persons who have reached 55 years of age, for whom the COPC has been paid in total for at least 84 months at the time of applying for a pension payment; citizens of the EAEU member states. The UAPF employees also explained how the pension payment amount is calculated, the procedure for receiving one-time and monthly payments, the requirements for retirement and the factors affecting its size, the options available for receiving payments from pension savings formed in the funded system, how to develop a personal pension savings plan, etc. Particular attention will be paid to explaining the concept of the "income replacement ratio", which determines what part of the contributor's earnings will be received as a pension.
The contributors who participated in the event learned not only about the payment mechanism, but also calculated their future pension using a pension calculator, and were clearly convinced that with regular replenishment of the account, you can significantly increase your payments from the UAPF.
The event aroused great interest among the participants and was held in the context of active discussion.
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 atwww.enpf.kz )