For the first 9 months of 2024, the net investment income of Kazakhstanis amounted to KZT2.09 trillion and exceeded the volume of pension contributions by KZT76 billion

ANNOUNCEMENT

For the first 9 months of 2024, the net investment income of Kazakhstanis amounted to KZT2.09 trillion and exceeded the volume of pension contributions by KZT76 billion

For the first 9 months of 2024, the net investment income of Kazakhstanis amounted to KZT2.09 trillion, which is KZT716.3 billion or 52.3% more than the same period last year.

At the same time, due to compulsory pension contributions (CPC), compulsory occupational pension contributions (COPC), voluntary pension contributions (VPC), contributors and beneficiaries received net investment income in the amount of KZT2.08 trillion, which exceeds the volume of these contributions, which amounted to KZT1.85 trillion.

Net investment income from employer’s compulsory pension contributions of the (ECPC), the transfer of which began only in 2024, amounted to KZT9.06 billion with a contribution volume of KZT160.6 billion.

The return on pension assets of the UAPF, formed at the expense of CPC, COPC, VPC, under the management of the National Bank of the Republic of Kazakhstan for 9 months of 2024 amounted to 11.22%, with inflation for this period being 5.7%.

The return on UAPF pension assets formed at the expense of ECPC as of October 1, 2024 since the beginning of the year is 8.87%. At the same time, the return on UAPF pension assets over the last 12 months as of October 1, 2024 amounted to 12.47% with inflation of 8.3%.

Investment income consists of income in the form of remuneration on financial instruments (securities, deposits and other transactions), market and currency revaluation of financial instruments, income on assets under external management, etc. To preserve pension assets and generate income, the National Bank of the Republic of Kazakhstan (NBRK) and investment portfolio managers (IPM) constantly diversify the investment portfolio. That is, assets are invested in different financial instruments, currencies and are regularly redistributed taking into account the market situation. The reviews of investment activities of the National Bank of the Republic of Kazakhstan, monthly posted on the website enpf.kz, reflect that as of October 1, 2024, income was received on all types of instruments.

Accumulated investment income in the long term also exceeds inflation. Since the foundation of the funded pension system in 1998, as of October 1, 2024, the cumulative accumulated return was 919.3% with inflation for the entire period being 803.01%.

The entire system of investment management and accounting of pension assets is transparent: each investor has the opportunity to see their investment income in their personal account on the enpf.kz website or in a mobile application.

Information on the investment management of UAPF pension assets and on the financial instruments in which UAPF pension assets are placed is published on the official UAPF website (www.enpf.kz) in the “Indicators/Investment activities” section.

A lot of interesting and useful information, including interviews with experts of the funded pension system about investing pension assets, is on the БЖЗҚ ЕНПФYouTube channel.

UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan “On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan”, ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz).