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How much money did Kazakhstanis accumulate in UAPF?

As of September 1, 13.97 trillion tenge were accumulated in the accounts of depositors of the Unified Accumulative Pension Fund. Over the year, the amount has increased by 1.02 trillion tenge or 7.9%, the UAPF press service reports.
How much money did Kazakhstanis accumulate in UAPF?

The main amount of pension savings was formed out of mandatory pension contributions (MPC) and amounted to 13.6 trillion tenge. The amount of pension savings on mandatory professional pension contributions (MPPC) made up 416 billion tenge, the amount of pension savings on voluntary pension contributions (VPC) was about 3 billion tenge.

Inflows, in particular, contributions continue to increase this year. For eight months of 2022, pension contributions in the total amount of about 1.1 trillion tenge have been received on depositors’ accounts, which exceed the figure for the same period in 2021 by 29% or 246.7 billion tenge. It should be noted that the growth occurred in all types of contributions. 95.3% of total contributions paid to the UAPF are MPC (mandatory pension contributions) in the amount of 1 trillion tenge (a 29% increase over the past 12 months), MPPC (mandatory professional pension contributions) in the amount of 50.1 billion tenge (a 37% increase), and 1.6 billion tenge of VPC (voluntary pension contributions) (a 293% increase).  

A significant increase in pension savings was achieved thanks to net investment return, which amounted to 694.7 billion tenge from January 1 to September 1, 2022.

As of September 1, 2022, the number of individual pension accounts in the UAPF was 12.0 million units.

UAPF has paid over 1 trillion tenge since the year beginning. Most of the payments of 868.3 billion tenge were nonrecurrent pension payments (NPP) for the improvement of housing conditions and medical treatment. The old age pensions amounted to 75.9 billion tenge, inheritance payments were 43.2 billion tenge, payments due to change of permanent residence outside the Republic of Kazakhstan formed 34.0 billion tenge, about 17.5 billion tenge were transferred to insurance organizations, funeral payments were 3.7 billion tenge and disability payments amounted to 1.6 billion tenge.

It should be noted that the average monthly payment from the UAPF according to the schedule (upon reaching the retirement age) amounted to 29,859 tenge, and the maximum monthly payment was 707,326 tenge.

Photos are from open sources.

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