BAKU, Azerbaijan, May 19
By Nargiz Sadikhova - Trend:
Pension savings of Kazakhstan’s Unified Accumulative Pension Fund (UAPF) have increased by 1.9 trillion tenge ($4.5 billion) or 19 percent as of May 1, 2020, compared to May 1, 2019, and amounted to 11.6 trillion tenge ($27.8 billion), Trend reports with reference to UAPF.
The major share of pension savings accounts for compulsory pension contributions and amounts to 11.4 trillion tenge ($27.3 billion), having increased by 8 percent over first four months of 2020.
The volume of pension savings on compulsory professional pension contributions amounted to 273 billion tenge ($654.3 million, 11 percent increase), the volume of pension savings on voluntary pension contributions exceeded 2 billion tenge ($4.7 million, increase of 7 percent).
A total of 347.1 billion tenge ($831.9 million) worth of pension contributions were transferred to the accounts of depositors since the beginning of 2020, which is 15 percent more than during the same period of 2019.
Payments amounted to 52.6 billion tenge ($126.06 million), most of which accounted for payments by age (21.4 billion tenge or $51.2 million), on leaving for permanent residence outside Kazakhstan (12.6 billion tenge or $30.1 million), transfers to insurance organizations (9.8 billion tenge or $23.4 million), payments to the heirs (7.4 billion tenge or $17.7 million), and payments for burial (0.8 billion tenge or $1.9 million).
Since the beginning of 2020 till May 1, a total of over 536 billion tenge ($1.2 billion) of net investment income has been transferred to the accounts of UAPF depositors, which is 381.1 billion tenge ($913.4 million) more compared to the same period last year.
Net investment income amounted to 154.9 billion tenge ($371.2 million) over the same period of 2019.
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