NEWS

The volume of pension savings of Kazakhstanis as of August 1, 2023 amounted to 16.4 trillion KZT. Over the year, it grew by 2.7 trillion KZT or 20%.

Pension savings at the expense of compulsory pension contributions (CPC) multiplied by 19.5% over the year and amounted to 15.8 trillion KZT as of August 1, 2023.

Pension savings on compulsory occupational pension contributions (COPC) amounted to about 517 billion KZT, an increase of 27.8% over the year.

The maximum increase of 57.8% was demonstrated by savings at the expense of voluntary pension contributions (VPC), as of 01.08.2023 year they amounted to about 4.5 billion KZT.

The average amount of savings at the expense of CPC on one individual pension account (IPA) amounted to 1,438.5 thousand KZT, which is 18.1% more than last year. At the same time, the calculation takes into account the IPA of all depositors: both those who have just started accumulating funds on the IPA, and those who have been making contributions for 25 years. The amount of savings is more dependent on the regularity and volume of the contribution based on the income of the depositor.

The increase in savings is formed at the expense of incoming flows in the form of pension contributions and investment income. At the same time, pension contributions for January-July 2023 amounted to 1,198.4 billion KZT, which is 26% more than the same period last year: CPC increased (IPA received 1,142.3 billion KZT, an increase compared to the same period last year - by 26%), COPC (54.82 billion KZT, an increase of 26%). The volume of VPC amounted to 1265 million KZT.

Net investment income for January-July 2023 amounted to more than 760.9 billion KZT.

Outgoing flows in the form of payments from the UAPF since the beginning of the year amounted to about 286.2 billion KZT. Most of this amount is made up of lump-sum pension payments (LPP) for improving housing conditions and treatment – about 132 billion KZT. Compared to last year, this indicator has decreased by 85%.

Payments in connection with reaching retirement age amounted to about 83.3 billion KZT.

Also, inheritance payments were made – 30.04 billion KZT, payments in connection with leaving for permanent residence outside the Republic of Kazakhstan – 22.4 billion KZT, payments to persons with disabilities – 1.6 billion KZT, funeral payments – 3.5 billion KZT. About 13.3 billion KZT was transferred to insurance organizations.

It should be noted that the amount of the average monthly payment according to the schedule from the UAPF (in connection with reaching retirement age) amounted to 32,122 KZT, and the maximum amount of the monthly payment was 742,692 KZT. Recall that for the same period last year, the average amount of the monthly payment according to the schedule from the UAPF was 29,812 KZT, and the maximum amount of the monthly payment was 707,326 KZT.

As of August 1, 2023, the number of IPAs in the UAPF amounted to 12.22 million units, of which: 1,1.02 million for CPC, 621,353 for COPC, 381,774 for VPC.

All up-to-date information on statistical data on pension assets, including in the context of the regions of the republic, is available on the enpf.kz website in the section “Indicators”.