The National Bank of the Republic of Kazakhstan (NBRK) held a briefing for media representatives on the investment of pension assets management of JSC "Unified Accumulative Pension Fund".
The presentation made by the Deputy Director of Securities Market Department of the NBRK Elena Nikiforova and Deputy Director of the Department of monetary operations of the NBRK Nurzhan Tursunhanov, who also answered the journalists' questions about the state of UAPF pension assets, the main approaches to their investment, as well as the results of the investment activity in the current year.
Representatives of the National Bank during the briefing explained that for 11 months of 2016 the profitability of pension assets, distributed to depositors' (recipients) accounts of JSC "Unified Accumulative Pension Fund" amounted to 8.15%, with the rate of inflation over this period of 7.5% . "The National Bank of Kazakhstan, managing pension funds, aims to ensure both the safety of pension assets, and achieve a return on pension assets above inflation", stressed N. Tursunhanov.
Representatives of the National Bank explained to reporters the policy of National Bank on management of pension assets and answered the questions regarding decision on placement of UAPF own funds as a separate legal entity.
It was noted that a decision on determination of the strategic investment directions of pension assets is adopted by the Board on the Management of the National Fund of the Republic of Kazakhstan (BMNF), established by the President of the Republic of Kazakhstan. The structure of BMNF also includes representatives of the Government of the Republic of Kazakhstan, Senate of Kazakhstan, Majilis of the Parliament of the Republic of Kazakhstan, the Presidential Administration of the Republic of Kazakhstan and Chairman of the National Bank.
Investment of pension assets is carried out by the National Bank in accordance with the list of financial instruments allowed for acquisition using pension assets, approved by the Government of the Republic of Kazakhstan.
By the way, the list of financial instruments included in the pension assets and investment declaration is available on the official website of JSC "Unified Accumulative Pension Fund».
N. Tursunhanov told, in turn, in what directions, approved by the Board of Management of the RK National Fund, pension assets were invested in the past year. According to him, in 2016 the main directions of investment of pension assets is to purchase government securities to finance the national budget deficit, the purchase of foreign exchange for investment шт overseas financial markets, investing in financial instruments of second-tier banks (STB) for financing of small and medium businesses (SMB) and the purchase of debt securities of subjects of quasi-public sector to finance priority projects in real sector of Kazakhstan economy.
During the briefing, journalists were informed about the structure of pension assets.
"According to the NBRK, on December 1, 2016 pension savings of depositors of JSC "Unified Accumulative Pension Fund" amounted to 6.636,9 bln. tenge, including pension contributions in the amount of 5.276,4 bln. tenge (80%) and investment income in the amount of 1.360,6 bln. tenge (20%). Since its inception in August 2013. JSC "Unified Accumulative Pension Fund" amount of pension payments to depositors, including transfers to insurance organizations amounted to 397 bln. tenge", said Elena Nikiforova.
As it was stated by representatives of the National Bank, UAPF permanently provide full payment of the pension savings of citizens - there were no facts of complaints from the public on the late payment or non-payment of pension savings have been received.
In addition, the compulsory pension contributions made by citizens to UAPF are protected against inflation by extending guarantee of the state to ensure their safety.
"The National Bank reports annually on the results of investment activities to BMNF", added E.Nikiforova. "As UAPF is an independent legal entity established as a joint stock company, it has the right of proper tyownership separately from the pension assets, and is responsible of the property for its obligations, on its own behalf to acquire and exercise property and personal non-property rights and obligations . Investing own assets of JSC "Unified Accumulative Pension Fund" carried out independently in accordance with the policy of investing of its own funds as defined by UAPF ".
In conclusion, we note that the event is conducted by the National Bank in the framework of the policy of openness and accessibility of information to strengthen active communication with the public and representatives of the financial market.