PRESS RELEASES

1. When, for whom and for what purpose were special social benefits introduced?

From January 1 of this year, in Kazakhstan, on behalf of the Head of State, in order to increase the social security of citizens of the Republic of Kazakhstan, foreigners and stateless persons permanently residing in the country, employed in hazardous working conditions, a special social benefit has been introduced, which will be carried out through the State Corporation “Government for citizens."

The Unified Accumulative Pension Fund provided 10.5 million services to the population from January 01, 2024 to February 01, 2024, which is 4 times more than the same period last year. Of these, more than 2 million were in electronic format, 8.3 million were in automatic format. More than 115 thousand services were provided in person, including about 107 thousand directly in the Fund’s offices.

UAPF JSC (hereinafter referred to as UAPF) presents a report on the management of pension assets by the National Bank of the Republic of Kazakhstan (hereinafter referred to as NBRK) and investment portfolio managers (hereinafter referred to as IPM) on the website enpf.kz in the section “Indicators - Investment activities”.

Net investment income accrued to individual pension savings accounts of UAPF contributors for the first month of this year amounted to more than KZT109.6 billion. This figure is higher than the same period last year by KZT45.7 billion or 72%.

As of February 1, 2024, pension savings of Kazakhstanis amounted to more than KZT18.1 trillion. In the first month of 2024, their increase amounted to about KZT240.5 billion (1.3%). Compared to the same date last year, the volume of pension savings increased by KZT3.3 trillion (21.9%).

History

On December 20, 2019, a meeting of the Supreme Eurasian Economic Council was held, at which the heads of the member states of the Eurasian Economic Union (EAEU) signed the Agreement on pension provision for workers of the member states of the Eurasian Economic Union, according to which each EAEU member state guarantees citizens of other member states of EAEU a volume of rights to pension provision equal to the volume of rights provided to its citizens under similar conditions.

According to the Social Code of the Republic of Kazakhstan, persons with disabilities of the first and second groups are exempt from paying compulsory pension contributions (CPC) to the Unified Accumulative Pension Fund (UAPF), if the disability is established for an indefinite period. At the same time, the employer is allowed to withhold and transfer CPC to the UAPF based on the application of the above persons. Thus, Kazakhstanis who have a disability of the first or second groups, established indefinitely, have the right to submit an application at their place of work for consent to withhold CPC in the UAPF.

Recently, fake information about the payment of compensation to Kazakhstanis from the National Fund has been spreading on social networks and instant messengers. According to this information, any resident of Kazakhstan can receive compensation. UAPF JSC warns that this is not true and clicking on the attached link leads to a fake website of the National Fund, where scammers, through deception, learn from gullible citizens THEIR personal information, tax deductions, work experience, purchasing power, IIN and, using this data, may steal funds from bank accounts.

Shares of Air Astana JSC show a price increase of about 13% compared to the purchase price.

UAPF JSC informs that, according to the instructions of the Head of State, in order to increase the social security of citizens of the Republic of Kazakhstan, foreigners and stateless persons permanently residing in the territory of the Republic of Kazakhstan, upon reaching the age of 55 and paying for them compulsory occupational pension contributions (hereinafter referred to as COPC) for a total of at least 84 months from January 1, 2024, the following payments were introduced:

From January 1, 2024, the savings system of Kazakhstan has been supplemented with a new component – employer’s compulsory pension contributions (ECPC).