Almat. January 27th. KazTAG - the translation of a part of the pension savings of a citizen of the Republic of Kazakhstan, over the "threshold of minimal sufficiency" in the trust management of private management companies will take
30 days, declares the agency for regulation and development of the financial market (ARRFR) of the Republic of Kazakhstan.
The contributor will select from the ENPF Internet Management Investment List (which will appear on the ENPF website, when the rules for the target use of pension savings - KazTAG) will write a statement and ENPF in the ENPF, after checking, will translate part of the accumulations within 30 days. The residue of pension savings will continue to be under the control of the National Bank, - follows from the information distributed ArrFR on Wednesday.
The "minimum sufficiency threshold" can be found on the ENPF website. For example, for age 20 years for 2021, it is T1.71 million, for age 30 years - T2.5 million, 40 years old - T3.42 million, 50 years - T4.47 million, 59 - 62 months - T5.56 million .
Translate part of its pension savings over the threshold of minimal sufficiency in trust management of private managers can contributors who have not reached the retirement age and submitted pension annuity agreements with insurance companies.
According to information that manage pension assets should have a license and experience, sufficient amount of equity, major shareholder and not have violations of prudential standards and cases of unscrupulous behavior in the securities market (CB).
Pension accumulations transmitted to confidential administration of private managers are stored in the pension system and are used on pension payments on schedule. The depositor, no more than once a year, can translate its accumulations from one to another managing company or return to the Office of the National Bank, is indicated in the information.
10 days before the retirement age, the accumulation of private management is returned to ENPF.
Also, conveying its accumulations into managing, the investor agrees with the Investment of the Management Company and assumes the investory, therefore not the government, and the management company guarantees the minimum level of profitability of pension assets adopted in management.
If a negative difference arises, the manager should reimburse its depositor at the expense of its own capital.
Indicators of minimum and weighted average return on pension assets will be calculated monthly and published on the website of the National Bank.
Interests of depositors when interacting with a private manageing company will be protected by a contract.
To be taken into account, their pension assets transferred to trust management will, according to the ArrFR, on the ENPF account, open in the Custodian bank, which controls their target use. Also, ENPF will continue to take into account pension savings in its informsystem in the context of individual retirement accounts (IPS) of depositors. In suspension or deprivation of the license of the management company, pension assets will return to the Costodile account of the ENPF in the National Bank.
The depositor of part of its pension savings will be transferred to the income tax at the time of transfer to private governance.
The ArrFR has determined a list of financial instruments for investing in pension assets by private managers: the State Committee of the Republic of Kazakhstan and foreign countries, equity and debt non-governmental securities (NCB) issued by Kazakhstani and foreign organizations, deposits in second-level banks of the Republic of Kazakhstan and in non-resident banks. The limits of investment of pension assets are established. At the same time, the investment strategy determines determined by the most control company within the framework of the investment.
The Commission of Governors does not exceed 7.5% of the investment received and is determined by the Treaty between the Managing and ENPF.