In Kazakhstan, due to the complication of the epidemiological situation and the increase in the incidence of coronavirus infection (COVID-19), a fourteen-day quarantine has been introduced since July 5 with a number of restrictive measures in order to prevent the spread of coronavirus.
Now the procedure for opening a pension account in the Unified Accumulative Pension Fund is simplified and does not require the personal presence of a contributor. In accordance with the amendments to the Law on Pension Provision of the Republic of Kazakhstan, to open an individual pension saving account (IPSA) for accounting for compulsory pension contributions (CPC), an individual does not need to contact the UAPF service offices in order to file an application for opening an IPSA.
Despite the ongoing quarantine in some cities of Kazakhstan in connection with the spread of coronavirus infection (COVID-19), contributors to the Unified Accumulative Pension Fund receive full services.
Since the beginning of 2020, pension contributions in the total amount of KZT 428.2 billion have been received on contributors' accounts, which exceeded the figures for the first 5 months of 2019 by 12%. More than 95% of the total amount of contributions made to the UAPF were compulsory pension contributions (CPC) – KZT 408 billion, over KZT 20 billion came from compulsory occupational pension contributions (COPC), KZT 134 million made voluntary pension contributions (VPC).
In the first five months of 2020, the Fund paid pension benefits to their 209,213 beneficiaries. In total, over 794 thousand pension benefit payments and transfers to insurance organizations were made in the total amount of KZT 62.4 billion, including:
According to the results of five months of 2020, the number of individual pension saving accounts in the Unified Accumulative Pension Fund increased by almost 1 million units. As of January 1 of this year, the number of IPSA was 10,672,567 units, and by June 1 reached 11.6 million (11 682 546).
The results of the annual independent sociological study, which determined the level of financial literacy of the population in the field of pension provision, are summed up.
In Kazakhstan, in recent weeks, a phased removal of the quarantine restrictions has begun. It is very important to take into account the current situation with the spread of coronavirus infection (COVID-19) and the ongoing quarantine in some cities of our republic. In this regard, the Unified Accumulative Pension Fund reports that in five regional branches (Aqmola, Aqtobe, Kostanai, Kyzylorda and North Kazakhstan regions) and a branch office in the city of Nur-Sultan, a gradual transition to full-time in-person customer service has begun.
As of May 1, 2020, the total number of individual pension saving accounts for all types of contributions to the Unified Accumulative Pension Fund amounted to 11,460,521 units. In January - April 2020, the number of individual pension accounts for all types of contributions increased by 978,170 units, including 1,034,627 new accounts opened.
For the past year, for the provision of pension services to remote settlements of the country, UAPF JSC and Kazpost JSC have been implementing a joint project to provide services to contributors and beneficiaries of the Fund in the branches of the national postal operator.
Today, each contributor to the Unified Accumulative Pension Fund can independently calculate their future retirement benefits using one of the most popular services on the Fund's website, the Forecast Pension Calculator. It covers all components of a pension within the multi-level pension system of Kazakhstan: state basic pension and old-age (or PAYG) pension, as well as a pension formed from compulsory pension contributions (CPC), compulsory occupational pension contributions (COPC) and voluntary pension contributions (VPC).