Передача Пенсионных Накоплений

From 1 July 2023
The rules have been simplified - depositors can transfer up to 50% of their pension savings to trust management, while the condition “exceeding the sufficiency threshold” has been cancelled
From 2021
It is possible to use pension assets above the sufficiency threshold for housing improvement, certain types of medical treatment, transfer to the management of investment portfolio managers
Until 2021
Pension assets of the Unified National Pension Fund are managed only by the National Bank of Kazakhstan

Up to 50% of savings
Can be placed in trust management
No minimum amount
Even 1,000 tenge can be transferred to management
There are no expenses
When transferring the savings, all costs are borne by the UAPF and the investment company
The control of private managers is stricter
We are controlled by - the regulator Agency for Regulation and Development of the Financial Market, the custodian bank (where the money is kept) and the pension fund itself

26 years
Experience in asset management
Up to 17% per annum
Target investment income on pension assets
$130 million
Top 5 largest investment managers by asset size
More than $60 million
Assets under management
$57 million
Top 3 public mutual funds under management
More than 4.7 billion ₸
Top 3 in terms of pension assets under management

1
Select BCC Invest JSC in the UAPF personal account
In the ‘Services’ section, click on ‘Submission of an application for (the) selection (change) of an investment portfolio manager or for the return of pension savings’ and select BCC Invest JSC
2
Fill in the application form and enter the transfer amount
Within 5 days, the UAPF confirms the request for transfer of pension assets
3
Track savings through the UAPF
Within 30 days pension savings are transferred to the Management Company BCC Invest JSC

Go to the UAPF website

- Bonds of quasi-governmental organisations of the Republic of Kazakhstan
  34.43%
- Government bonds of the Republic of Kazakhstan
  12.71%
- Repo
  11.85%
- Bonds of second-tier bank of the RK
  9.37%
- Corporate bonds of RK issuers
  9.29%
- Corporate bonds of foreign issuers
  6.85%
- Units (ETFs on indices) and other assets
  6.68%
- Bonds of MFO
  4.00%
- Government securities of foreign countries
  3.20%
- Shares and depositary receipts of RK issuers
  1.67%
- Cash on investment accounts
  0.61%

State license No. 3.2.235/12 dated July 10, 2018 to carry out activities on the securities market

State license No. 3.4.3 dated 15 July 2024 for banking operations: Banking operations in national and foreign currency

Or contact us

pensiya@bcc-invest.kz

We'll answer all your questions

When can pension savings be transferred back to the UAPF?
Pension savings transferred to the management of investment portfolio managers can be returned to the UAPF not earlier than 1 year from the date of transfer
How long can a depositor's savings be held by a management company?
According to pension legislation, pension savings transferred to the management of investment portfolio managers may be managed until the depositor reaches retirement age
How often can pension savings be transferred to the management of investment portfolio managers?
Investment income will be reinvested. When you reach retirement age, you will receive your pension savings together with investment income
What should a depositor who has transferred his pension savings to the management of investment portfolio managers do at retirement?
According to the current legislation, 10 days before the depositor's retirement age, the money from the investment portfolio managers is automatically transferred to the UAPF for calculation and accrual of pension payments from the funded system
What fees are paid for the transfer?
There are no transfer fees when transferring pension savings from/to the UAPF. Exactly the amount indicated in the application is transferred.
Who can transfer pension savings to the Investment portfolio manager?
Depositors who have an open pension account with the UAPF for mandatory pension contributions, aged between 18 and 61 (for women in 2024) and 63 (for men), may transfer part of their pension savings. Depositors who have reached the retirement age are not entitled to transfer their pension savings to investment portfolio managers.
Can accrued investment income be withdrawn from pension savings transferred to an investment portfolio manager?
Withdrawal of accrued investment income accrued on the amount of pension savings transferred to the investment portfolio manager is not provided for. Investment income is accrued on the pension account.
What will happen to my savings if the management company loses its license, terminates the agreement with the UAPF or goes bankrupt?
In case of the above situations, the pension savings of the depositor together with the accrued investment income may be transferred to another management company or returned to the UAPF in accordance with the current legislation.
How can the activities of an investment portfolio manager to which pension savings have been transferred be monitored?
Pursuant to legal requirements, investment portfolio managers are obliged to publish monthly information on pension savings transferred for management on their own official website. Also, information on the results of pension assets management, investment portfolio structure and investment declaration is published on the UAPF website in the section “Indicators”.
Where can I find out information about my savings transferred to an investment portfolio manager and the amount of accrued investment income?
Since the pension savings transferred to an investment portfolio manager are anonymized, information on the amount of pension savings and the amount of accrued investment income is reflected in the statement of the individual pension account with the UAPF. The statement can be obtained at an UAPF branch, in the UAPF personal account on the website www.enpf.kz or in the UAPF mobile application.
Can a depositor independently choose financial instruments for investing his/her own pension savings or independently manage his/her pension savings transferred to an investment portfolio manager?
In accordance with the current legislation, pension savings are managed by a professional manager who has a license to carry out such activities and who meets the requirements for such companies defined by the legislation of the Republic of Kazakhstan and other legislative acts.
How is the safety of pension savings guaranteed when investing in investment companies?
Guaranteeing the safety of pension assets is ensured by establishing requirements for investment portfolio managers to compensate for the negative difference between the nominal return on pension assets at the expense of their own capital, received by the investment portfolio manager and the minimum value of return on pension assets in accordance with the Social Code of the Republic of Kazakhstan, as well as the Resolution of the Board of the Agency of the Republic of Kazakhstan on Regulation and Development of Financial Market No. 62 dated 26 June 2023.
Is there an option to choose an investment policy when transferring funds?
The depositor's choice is limited only by the choice of the management company. Each management company already defines its own investment policy in the document ‘Investment Declaration’, which is published both on the manager's website and on the website of the UAPF at the link ссылке
Why have returns in the Pension Asset Management been lower than in the Unified Accumulative Pension Fund in past periods?
Lower profitability of managers at the initial stage was due to low activity of depositors in transferring their pension savings to trust management. Due to small amounts transferred to management, management companies were limited in terms of investing pension money in instruments that can be purchased only in lots (large volumes from 100 thousand dollars, for example), which did not give an opportunity to form a portfolio of securities with higher profitability. While the UAPF has a large amount of money in its portfolio and some of it has already been invested in such instruments. However, as of 1 July 2024, the picture is very different. The indicators can be found in the documents at this link

Disclaimer. Important information

Information on Risks for Clients of JSC "BCC Invest"

The material and information on securities, including foreign securities, currency, and derivative financial instruments with various types of underlying assets (hereinafter referred to as "Financial Instruments") provided and published by JSC "BCC Invest" is distributed solely for informational purposes. The distribution of such material and information does not constitute investment advisory activities and is not an individual investment recommendation.

The information provided by JSC "BCC Invest" is not a comprehensive presentation of current financial or commercial events and should not be used as such. The recipient of the material provided and published by JSC "BCC Invest" should not rely solely on the presented information for decision-making. Calculations, historical data, and other information that may be contained in the material prepared by employees of JSC "BCC Invest" are based on information and data obtained from public sources. JSC "BCC Invest" does not verify and is not obliged to verify the completeness, accuracy, and reliability of such information.

Any information provided by JSC "BCC Invest" is used by the client solely at their discretion and at their own risk. The information provided by JSC "BCC Invest" does not constitute an offer to purchase and/or an obligation to sell any financial instrument, an inducement to enter into a transaction, or a recommendation to the information recipient on investment, tax, and legal matters, including regarding the suitability of the transaction for the specific goals of the information recipient.

Before conducting transactions with Financial Instruments, information about which is provided by JSC "BCC Invest," recipients of this information must review the documents characterizing the Financial Instruments (prospectus, etc.) and conduct comprehensive consultations with their financial, legal, tax, accounting, and other advisors before entering into a transaction with Financial Instruments.

Entering into transactions with Financial Instruments involves certain risks, responsibility for which cannot be attributed to JSC "BCC Invest," as they are beyond the reasonable control of the parties, and their ability to foresee and prevent the consequences of such risks is limited or impossible.

Potential Financial Instruments (options, futures, derivatives, or complex financial instruments, etc.) are not suitable for all investors, and trading these instruments is considered risky.

Information on projected positive returns should be regarded as assumptions. Past performance is not a guarantee of future results. The value of investments can fall or rise, and investors may not recover the amount of their initial investment. Some investments may become infeasible due to market illiquidity or lack of a secondary market (investor interest), and therefore, the valuation of investments and the determination of investor risks may not be subject to quantitative assessment.

Investments in illiquid securities involve a high degree of risk and are suitable only for experienced investors who are insensitive to such risks and do not require easy and quick conversion of investments into cash.

Securities denominated in foreign currencies are subject to fluctuations in exchange rates, which can adversely affect the value or price of investments, as well as the income derived from investments.

Other risk factors affecting the price, value, or income from investments include, but are not necessarily limited to, political risks, economic risks, credit risks, and market risks. Investments in emerging markets and securities of emerging markets carry a high degree of risk, and investors should conduct thorough due diligence before making such investments. Financial instruments are not bank deposits, and the associated risks are not insured under current legislation. The return of investments and the yield on investments in financial instruments are not guaranteed by the government.

The recipient of the information must independently assess the feasibility of entering into transactions with Financial Instruments. The recipient should not enter into a transaction if its economic and legal substance, documentation, conditions, and associated risks remain unclear or do not align with the recipient's goals, intentions, and expectations.

JSC "BCC Invest" does not provide guarantees or assurances and does not accept any responsibility regarding the financial results that the recipient of the information may achieve based on the use of the provided information.

Conflict of Interest

We hereby inform you that JSC "BCC Invest" provides services similar to those described in standard brokerage and nominal holding service agreements to third parties. Additionally, it accepts orders from third parties under other contracts and conducts transactions and other operations with securities and other financial instruments in the interests of third parties and its own interests. JSC "BCC Invest" also provides other services to third parties in the manner of combining types of professional activities in accordance with the current legislation of the Republic of Kazakhstan, including informational services, financial consulting, underwriting, bondholder representative services, asset trust management, and market-making services.

During the provision of the aforementioned services, JSC "BCC Invest" receives remuneration for such services, which may lead to a conflict of interest between JSC "BCC Invest" and the client.

JSC "BCC Invest" does not recommend that clients engage in transactions with financial instruments if the execution of such transactions will result in a conflict of interest.

Information on Risks When Investing in Mutual Investment Funds

Before conducting transactions with shares of mutual investment funds, information about which is provided by JSC "BCC Invest," recipients of this information must review the documents characterizing these financial instruments, the investment declaration, and the rules of the mutual investment fund. When deciding to conduct a transaction with shares, it is necessary to consider that investing in financial instruments carries the risk of not receiving the expected income, losing part or even all of the invested funds, and incurring potential expenses and losses.

The value of shares may increase or decrease.

Past investment results do not determine future returns.

The government does not guarantee the profitability of investments in investment funds.

State license №3.2.235/12 dated 10.07.2018 for conducting activities in the securities market.

Increase your pension savings with BCC Invest!

Ensure your retirement with professional pension management

From 1 July 2023

From 2021

Until 2021

Up to 50% of savings

No minimum amount

There are no expenses

The control of private managers is stricter

26 years

Up to 17% per annum

$130 million

More than $60 million

$57 million

More than 4.7 billion ₸

1

Select BCC Invest JSC in the UAPF personal account

2

Fill in the application form and enter the transfer amount

3

Track savings through the UAPF

Bonds of quasi-governmental organisations of the Republic of Kazakhstan

34.43%

Government bonds of the Republic of Kazakhstan

12.71%

Repo

11.85%

Bonds of second-tier bank of the RK

9.37%

Corporate bonds of RK issuers

9.29%

Corporate bonds of foreign issuers

6.85%

Units (ETFs on indices) and other assets

6.68%

Bonds of MFO

4.00%

Government securities of foreign countries

3.20%

Shares and depositary receipts of RK issuers

1.67%

Cash on investment accounts

0.61%

Or contact us

When can pension savings be transferred back to the UAPF?

How long can a depositor's savings be held by a management company?

How often can pension savings be transferred to the management of investment portfolio managers?

What should a depositor who has transferred his pension savings to the management of investment portfolio managers do at retirement?

What fees are paid for the transfer?

Who can transfer pension savings to the Investment portfolio manager?

Can accrued investment income be withdrawn from pension savings transferred to an investment portfolio manager?

What will happen to my savings if the management company loses its license, terminates the agreement with the UAPF or goes bankrupt?

How can the activities of an investment portfolio manager to which pension savings have been transferred be monitored?

Where can I find out information about my savings transferred to an investment portfolio manager and the amount of accrued investment income?

Can a depositor independently choose financial instruments for investing his/her own pension savings or independently manage his/her pension savings transferred to an investment portfolio manager?

How is the safety of pension savings guaranteed when investing in investment companies?

Is there an option to choose an investment policy when transferring funds?

Why have returns in the Pension Asset Management been lower than in the Unified Accumulative Pension Fund in past periods?