From July 1 facilitated order of transfers into accumulative pension system will be introduced in the republic

/INTERFAX-KAZAKHSTAN, Almaty, June 27, 06/ - From July 1 this year in Kazakhstan facilitated procedure of payments transfers into accumulative pension system (APS) will be introduced. "If before on pension dues transferring by employer several payments orders were formed per each accumulative pension fund, then from July 1 this year one order for all employees will be formed and forwarded directly to the state Center for pension payments", - General director of the Center for pension payments (SCPP), Almas Kurmanov said on Tuesday in Astana in the seminar on APS optimization problems and introduction of obligatory social insurance. In its turn SCPP as a unified registration center of pension payments further on will transfer pension dues to that accumulative pension fund (APF), with which the employee has the contract, A.Kurmanov noted. Thereupon, a unified electronic database of depositors and unified registration center of all APFs working are being created in SCPP. Applied measures on APS optimization, he emphasized, will allow widening the participation of population in APS, providing with efficiency of pension dues, managing by pension assets, providing with anonymity of pension dues, transparency of pension funds working. As A. Kurmanov noted that optimization of pension system of the republic is implemented pursuant to amendments of the government, inserted last year into the law of pension security. Currently, in the republic 14 APF work, including one state (SAPF), which have 77 affiliates and 77 representations in the regions of the republic. 10 organizations, 3 out of them are APFs, having license for self-managing by pension assets implement Investment management by pension assets, they are as follows: Accumulative pension fund JSC "SAPF", APF of Halyk Bank of Kazakhstan JSC and APF BTA Kazakhstan JSC. Retirement accumulations in accumulative pension funds (APF) of Kazakhstan, as of June 1, 2006 totaled KZT757.4 bn. (current exchange rate is 119.71/$1). Accumulative pension system has acted in Kazakhstan since 1998. It acts along with unite with pension system, received from soviet times. At the same time there was noted in the seminar of necessity of information and explanatory actualization of a system of obligatory social security in the republic. As the director of pension provision department of the Ministry of labor and social protection of population, Gulnar Dilimbetova informed to journalists in lobby interviews, "actually about 3 m. people take part in the system of obligatory social insurance, i.e. over 4.5 m. capable of working citizens remain uncovered by the second level of social insurance". "This means that, subsequently, in case of social risk coming - disablement, disability, these persons (mainly, self-busy) will be able to pretend only on base state allowance on disablement or disability of a bread-winner and will not get payments on reimbursement of lost income", - G. Dilimbetova said. In Kazakhstan since January 1, 2005 pursuant to the law "Of obligatory social insurance" the system of obligatory social insurance has been introduced as one of the form of social protection of citizens, implemented by state. Accumulation of social dues and payment to participants of the system of obligatory social insurance are being made by State fund of social insurance JSC, trustee manager of which is the National bank of Kazakhstan. 100% of fund' shares belong to the state. Owing to G. Dilimbetova, as of June 1, 2006 over KZT22 bn. were accumulated in the fund. For a year and a half of its working 3 thousand Kazakhstan citizens have received allowances. Payments due to system of obligatory social insurance are made only in 3 cases: under disablement, under disability of bread-winner and loss of workplace by persons, working in enterprises of all forms of property, and also who are busy with individual labor activity. More than 15.2 m. people live in Kazakhstan. [2006-06-28]