To date, the pension system of the Republic of Kazakhstanundergoes significant changes. More recently, various pension funds of Kazakhstan worked on the territory of the republic, which meant competition, and hence the possibility of competition among themselves for attracting clients. However, in a few years, such a system has not yielded good results. The financial crisis was a heavy test for non-state organizations, which, in turn, had to take on all the obligations to recover losses of depositors. Therefore, it was decided to merge the pension funds of Kazakhstan into one, which will be subordinated directly to state structures. On the one hand, this implies control, and on the other hand - the guarantee of the safety of depositors' money.
The first and leading
The People's Pension Fund of Kazakhstan from the first daydiscovery began to enjoy the greatest confidence of citizens. If you look at the official data, you can see that around 40% of all pension savings are concentrated around the country. The remaining 60% are distributed among other funds. Such indicators allow the PF of the People's Bank to be the main investor not only in Kazakhstan, but also abroad. The pension fund of the People's Bank of Kazakhstan is chosen by every fourth working citizen, and the number of depositors is constantly growing.
Merging structures
Until 2014, every resident of the country hadChoose where to store your money. True, no one could dispose of them. How it looked like: every month 10% of your salary is deducted, and the third-party organization disposes of them at its discretion, gets a profit, which does not hurry to share with its investors. The pension funds of Kazakhstan demonstrated their inconsistency, and a decision was made to merge these structures.
In April 2014, the chairman of the ENPF fundannounced that since today all contributions are transferred to the EPPF. The accumulations were transferred in the amount in which they were formed at the time of transfer. Pension funds of Kazakhstan reported on the funds paid.
Currently
All clients of former funds became contributors to the EPPF.On the one hand, they did not have much choice, because the alternative no longer exists, but, on the other hand, they were assured that now the deposits are securely protected. Moreover, the state will monitor not only the safety, but also the multiplying of these amounts. In other words, Kazakhstan's pension fund has become more transparent. Now citizens can receive full information about their savings, including extracts from the fund's offices.
Data on depositors
The single pension fund of Kazakhstan already in 2014opened for its new depositors about 2.5 million individual accounts, each of which is assigned to one of the depositors. In parallel, agreements were concluded on voluntary pension provision, there were about one and a half million of them. The pooling of funds took place in the regular mode, strictly in accordance with the approved procedures. The transfer of pension assets occurred in one banking day.
Information Support
Accumulative pension fund of Kazakhstanassumes full transparency of the state of accounts for depositors. People need to know what happens to their money and how much they can expect when they retire. In the spring of 2017, the introduction of a centralized warning of citizens about savings was introduced. To do this, just tell the nearest branch how you want to receive them.
Данные могут приходить в виде СМС-сообщения либо in the form of an extract to e-mail. In addition, having received a personal password, you can go to the site yourself and view the replenishment of your account. Here, too, information will be posted on investment savings or losses incurred by the fund, which also become a problem for ordinary citizens.
New technologies
At EPNF today developed and implemented a mobileapplication for smartphones and tablets. Now you do not need to take printouts or request data. Directly from your phone, you can open an individual page and view the statement, contact the nearest branch and get new information about the fund.
The application works in two languages, soit is convenient for the entire population of Kazakhstan. In order to authorize the application, you need to enter a login and password, through which the contributor enters the EPPF site. If you do not have one, you will need to go to any office and get data.
Use of pension money
This is a question that most people care about.Deducting 10% of their monthly wages, they do not have the ability to control the contributions of these funds, and also to use them if there is a serious need. A reasonable question arises: why can a bank or a fund at its own discretion risk risking pension money, sometimes investing in unprofitable financial institutions, and a person is deprived of the opportunity to receive part of the accumulated, even if badly needed?
It should be noted that the pension model is notis static. It is constantly changing. The world experience, appeals and wishes of depositors are studied, and settlements are conducted. Indeed, early withdrawal of funds is an actual problem. There are people who need money today, for example, to pay for the treatment of a serious illness.
Prerequisites for payments
When funds were disconnected, the possibility of obtainingmaterial means before retirement was practically zero. Only after the consolidation of all assets and accounts of depositors in the EPPF it became possible to create a single base and keep records of savings. And only now, 18 years after the creation of the pension system, funds on a separate pension account have become any significant. This allowed us to talk not only about ensuring the life of a person in retirement, but also about increasing prosperity before retiring to a well-deserved rest.
Special purpose
Withdraw money from a pension fund in Kazakhstanit is still impossible, but this issue is constantly being studied. Turning to the world experience, we see that these funds can not be taken for running costs. A prerequisite is an exclusively targeted use of pension funds. This can be a vital operation or payment of a part of the mortgage debt for the purchase of a single home. Experts argue that the free disposal of accumulated funds can not be allowed, because otherwise, in a few dozen years, we will get a whole generation left without a livelihood. This money has a strictly defined purpose - ensuring life after retirement. And only after accumulating a sufficient amount, it will be possible to start using them ahead of schedule.
What amount should be in the account
So, today we are developing a model based onwhich a person must first accumulate a financial pillow that will ensure his life in retirement, and after exceeding this threshold begin to gradually use these funds. But this is not a question of their complete seizure. After the depositor is 50 years old (for women) or 55 (for men), he has the right to transfer his savings to one of the insurance companies, after which the latter begins to charge payments in accordance with the concluded contract.
Pension annuity
This is another concept that will bemeet future pensioners. It is through this program that you can receive your money before the retirement age. As mentioned above, people can receive them through insurance companies. Having estimated the accumulated amount, the company charges an annual payment, which will increase annually by 5%.
But it's not so simple.To exercise this right, a woman should have at least KZT 8 800 000 on her account at the time she turns 50. A man under 55 must earn at least 6,300,000. After signing the contract, you will receive 10% of that amount in your bank account within a week. And then every year - 25% each. For example, if at the time of the conclusion of the contract there were 10 000 0000 tenge on the account, the lump sum payment will be 1 000 000 tenge, and the annual payment - 400 000. They are appointed for life.
Annuity Features
Payments are appointed on an ongoing basis, up toend of human life. In addition, under the agreement, you can set a period for the heirs from 0 to 30 years. The insurance company gives an opportunity to receive an additional one-time payment up to 8% of the amount of savings. And of course, indexing will be carried out every year. While it is assumed that it will be 5%, but it is possible that over time this amount will change in the big direction. For further changes in the work of the pension fund, you can follow the official website.
