AFS of Kazakhstan characterized the republic's accumulative pension system as of May 1, 2008

/IRBIS, Dinara Mukasheva, May 22, 08/ - Kazakhstan agency for financial market and financial organizations regulation and supervision (FSA) in its scheduled press-release dedicated to the republic's financial market has characterized the country's accumulative pension system as of May 1, 2008. According to AFS, as of May 1, 2008 a total of 14 accumulative pension funds were functioning in Kazakhstan, which have 75 branches and 48 representatives in the regions of republic. The license on investment management of pension assets of accumulative pension funds have 13 legal entities, 8 of them were accumulative pension funds, which had licenses for independent management of pension assets. In April of current year, there were no any licenses distributed for independent management of pension assets. Changing of main indicators, characterizing the condition of accumulative pension system of Kazakhstan --------------------------------------------------------------------------- Changing (in %) relative to values ----------------------------- As of May As of Apr As of Jan As of May Indicator 1,08 1,08 1,08 1,07 ----------------------------------- --------- --------- --------- --------- The number of individual pension accounts on compulsory pension fees 9,322,932 +0.3 +1.1 +5.8 total sum of pension accumulations (bn. KZT) 295.2 -76.6 -75.5 Х Amount of accounts of depositors on voluntary pension fees 41 260 +0.2 +0.9 +5.7 total sum of pension accumulations (m. KZT) 849.7 +1.6 +5.8 +23.2 Amount of accounts of depositors on voluntary professional pension fees 3 992 +1.1 +3.7 +4.9 total sum of pension accumulations (m. KZT) 58.3 +3.9 +11.0 +51.8 Pension savings of depositors 1,300.1 +2.4 +7.6 +31.8 (bn. KZT) Total income of pension fees (bn. KZT) 994.8 +2.4 +9.1 +32.4 Total net investment income* 360.1 +2.8 +6.0 +33.3 The sum of pension payments to -82.9 +2.2 receivers (bn. KZT) 2.6 -69.4 --------------------------------------------------------------------------- * from investment of pension assets, distributed for individual pension accounts of investors от In total sum of pension savings of depositors, stake of net investment earning as of May 1, 2008 made 27.70%, increasing compared to April of current year by 0.11 basis points. Pension payments and transfers to insurance organizations from accumulative pension funds as of May 1, 2008 made KZT74.1 bn. In April, 2008 by funds were made pension payments for amount of KZT2.6 bn. (3.58%). Transfers of pension savings of depositors from one fund to other increased for April by KZT10.7 bn. (by 4.58%) and as of May 1, 2008 totaled KZT244.1 bn. As of May 1, 2008 average weighted coefficients of nominal income on pension assets of accumulative pension funds made: - For April 2003 - April 2008: 46.94%. Corrected average weighted coefficient of nominal income - 43.33% (accumulated inflation level for similar period - 59.63%); - For April 2005 - April 2008: 32.69% (accumulated inflation level for similar period - 39.69%); - For April 2007 - April 2008: 8.76% (inflation level for similar period - 19.10%). As of April 1, 2008, one accumulative pension fund is in the process of mandatory liquidation by the court decision, 1 accumulative pension fund - APF Valut Transit Fund JSC. In April, 2008, AFS didn't reveal violations of legislation, which regulates the activity of accumulative pension funds. [2008-05-22]