Unified Accumulative Pension Fund (UAPF) was created on 31 July 2013, its founder and shareholder is the Government of the Republic of Kazakhstan.
UAPF is the assignee under all existing contracts on provision of pensions and accumulates all pension assets formed at the expense of obligatory pension contributions which earlier were distributed between private accumulative pension funds.
Transfer of personal pension accounts of contributors and their pension accumulation from pension funds will be implemented according to the diagram as approved by Order No. 356 of the Chairman of the RK National Bank dated 24 September 2013, in full volume with saving the right of property on the pension accumulation of contributors.
The RK National Bank will control UAPF pension assets.
In order to organize investment, the RK National Bank will provide the option to choose organizations controlling investment portfolio according to investment strategy. At the same time, investment strategy and recommendations on the list of allowed financial tools for placement of UAPF pension assets will be approved by the UAPF Council for Control of Pension Assets under the President of the Republic of Kazakhstan.
Its members and provision are approved by the President of the Republic of Kazakhstan. The Council will be composed of representatives of Administration of the President of the RK, RK Government, RK National Bank, participants of financial market and domestic independent experts.
The state will save guarantee on safety of pension accumulations on obligatory pension contributions, obligatory professional pension contributions.
Thus, responsibility of the state for safety of pension assets and support of investment profitability will be increased.
At the present time, the Rules of unified accumulative pension fund (resolution of the government of the Republic of Kazakhstan No. 984 dated 18 September 2013) have been approved and according to that it is provided that information on pension accumulation, provided to contributor (receiver) by UAPF, includes data on:
1) the amount of pension contributions, fine, transfers came in from the date of opening contributor (receiver) personal pension account in UAPF with specifying the date of their actual incoming;
2) the amount of calculated investment income (loss) per each month and total amount as of required date from the date of opening contributor (receiver) personal pension account in UAPF;
3) value of commission from investment income and pension assets, as approved by the Board of National Bank of the Republic of Kazakhstan, from the date of opening of contributor (receiver) personal pension account in UAPF;
4) the amount of pension payments and (or) transfers of pension accumulations with specifying dates and the amounts of withheld personal income tax from the date of opening personal pension account in UAPF.
Informing of contributor (receiver) of UAPF on the status of pension accumulation is carried out according to the method chosen by contributor (receiver):
1) electronic – sending of message to e-mail address (e–mail) of contributor (receiver), specified in the application on opening contributor (receiver) personal pension account or in separate contract;
2) with personal address of contributor (receiver) directly to UAPF;
3) with personal address of contributor (receiver) via Internet with use of given user login and password;
4) through population service centers.
Moreover, all citizens are enabled to address to population service center (PSC) to ask for state service "Output of information on entering and movement of means of contributor of accumulative pension fund", which contains data on the amount of withheld and deducted 10% obligatory pension contributions to accumulative pension funds.
The amount of pension accumulations with account of investment income is represented in extracts from accumulative pension funds.
Thus, it is necessary to pay attention that obtaining data from PSC on entering of 10% obligatory pension contributions and extracts from accumulative pension fund on pension accumulation (10% + investment income), the margin of that investment income makes up, is seen.
Also we want you to pay attention that contributor (receiver) is considered to join the contract on pension provision at the expense of obligatory pension contributions from the date when unified accumulative pension fund receives electronic notification message from the authorized organization (National Bank) on including the data on the contract on pension provision at the expense of obligatory pension contributions in the unified list of natural persons signed the contract on pension provision at the expense of obligatory pension contributions.