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About 40.8 billion tenge were transferred from UAPF to LICs

As of April 1, 2024, pension savings in the amount of 18.9 trillion tenge were formed on individual and conditional accounts of UAPF depositors, the Fund’s press service reports.
About 40.8 billion tenge were transferred from UAPF to LICs

96.6% of the savings of Kazakhstanis were formed through mandatory pension contributions (MPC), the volume of which exceeded 18.2 trillion tenge (a 22.3% increase for the year, 5.5% - since the year beginning). The amount of pension savings for mandatory professional pension contributions (MPPC) is 599.7 billion tenge having enhanced by 25.8% over the year and by 5.5% since the year beginning. The maximum increase (49% for the year, 11.3% since the year beginning) was shown by savings on voluntary pension contributions (VPC), the volume of which made 5.9 billion tenge.

From January 1, 2024, additional funds are being transferred to the pension accounts of depositors (recipients), mandatory employer pension contributions (MEPC). For 3 months of 2024, the amount of pension savings through MEPC has made around 37.5 billion tenge.

Net investment return accrued to individual and conditional pension accounts of UAPF depositors since the year beginning amounted to about 569.5 billion tenge.

For 3 months of this year the cash outflows in the form of payments from the UAPF have made about 193 billion tenge. The bulk of funds of about 83.7 billion tenge make lump pension payments (LPP) for improving housing conditions and medical treatment, which is 2.4 times higher than last year.

“The payments upon reaching retirement age were around 44.6 billion tenge. Inheritance payments of 13 billion tenge were also made, payments due to permanent residence outside the Republic of Kazakhstan were 7.7 billion tenge, payments to persons with disabilities made 790.3 million tenge, and funeral payments were 2.5 billion tenge. About 40.8 billion tenge were transferred to insurance organizations,” the UAPF concluded.

Photos are from open sources.

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