AFS of Kazakhstan characterized the republic's accumulative pension system as of February 1, 2009

/IRBIS, Dinara Mukasheva, February 24, 09/ - Agency of Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (AFS) in its scheduled press-release dedicated to the republic's financial market and financial organizations has characterized Kazakhstan accumulative pension system as of February 1, 2009. According to AFS, as of February 1, 2009 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, 9 of them were accumulative pension funds, which had licenses for independent management of pension assets. In January 2009, accumulative pension funds were not given license for independent management of pension assets. Changing of main indicators, characterizing the condition of accumulative pension system of Kazakhstan (in bn. KZT) ---------------------------------------------------------------------------- Changing (in %) relative to values --------------------- As of As of As of Indicator Feb. 1, 09 Jan. 1, 09 Feb. 1, 08 ------------------------------------------- ---------- ---------- ---------- The number of individual pension accounts on compulsory pension fees (items) 9,610,859 -0.02 +4.0 total sum of pension accumulations 1,434.4 +1.3 +17.4 Amount of accounts of depositors on voluntary pension fees (items) 41,738 +0.6 +1.8 total sum of pension accumulations 926.3 -3.4 +13.0 Amount of accounts of depositors on voluntary professional pension fees (items) 4,029 -0.02 +4.6 total sum of pension accumulations (m. KZT) 62.2 +8.0 +15.6 Pension savings of depositors 1,439.1 +1.3 - Total income of pension fees (bn. KZT) 1,205.3 +1.7 +29.5 Total net investment income* 308.7 +0.6 -8.5 The sum of pension payments to receivers (bn. KZT) 4.0 +53.8 +29.0 Transfers of pension accumulations to other funds 333.1 +2.5 +54.2 ---------------------------------------------------------------------------- *from investment of pension assets, distributed for individual pension accounts of investors As of February 1, 2009 average weighted coefficients of nominal income on pension assets of accumulative pension funds made: - For 5 year period (January 2004 - January 2009) - 37.27 % (accumulated inflation level for similar period - 61.03 %). Corrected average weighted coefficient of nominal income - 30.82 %; - For 3 year period (January 2006 - January 2009) - 21.63 % (accumulated inflation level for similar period - 39.99 %); - For 12 month period (January 2008 - January 2009) - (-1.41 %) (inflation level for similar period - 8.70 %). In January 2009 AFS concluded written agreement on corrective measures, mandatory for implementation and directed for abortion of violation of requirements, established by the Legislation with one accumulative pension fund. No letters-liabilities and written directions were demanded from accumulative pension funds in January 2009. As of February 1, 2009 one accumulative pension fund is in the process of forced liquidation by the court decision (APF Valut Transit Fund JSC). [2009-02-24]