AFS characterized the republic's accumulative pension system as on August 1, 2009

/IRBIS, Dinara Mukasheva, August 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 on August 1, 2009. According to AFS, as at August 1, 2009 a total of 14 accumulative pension funds were functioning in Kazakhstan, which have 76 branches and 48 representatives in the regions of republic. The license on investment management of pension assets of accumulative pension funds have 14 legal entities, 10 of them were accumulative pension funds, which had licenses for independent management of pension assets. In July 2009, 0 accumulative pension fund was given the 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 %) ---------------------- As on For a since For a Indicator August 1, 09 month 2009 year ------------------------------------- ------------ ------ ----- --------- The number of individual pension accounts on compulsory pension 7,587,586 -20.4 -21.1 -19.4 fees (items) total sum of pension accumulations 1,674.7 +2.1 +18.3 +22.3 Amount of accounts of depositors on voluntary pension fees (items) 40,303 -0.7 -2.9 -2.6 total sum of pension accumulations 914.3 +0.8 -4.7 -0.7 Amount of accounts of depositors on voluntary professional pension fees 4,071 -0.02 +1.0 +1.4 (items) total sum of pension accumulations 74.1 +3.1 +28.6 +22.7 (m. KZT) Pension savings of depositors 1,679.8 +2.1 +18.3 +22.2 Total income of pension fees 1,353.8 +1.9 +14.3 +27.3 (bn. KZT) Total net investment income* 421.5 +2.6 +37.3 +13.3 The sum of pension payments to 2.7 -15.6 +3.8 +12.5 receivers (bn. KZT) Pension payments and transfers in insurance companies from the NPF, 116.4 +2.4 +26.4 +43.5 billion KZT Transfers of pension accumulations to other funds 557.9 +26.2 +71.6 2.0 times ------------------------------------------------------------------------- * from investment of pension assets, distributed for individual pension accounts of investors The stake of "net" investment income in total sum of pension savings of depositors (receivers) made 25.1 %, for July 2009, the stake increased by 0.1 percent points. As at August 1, 2009 average weighted coefficients of nominal income on pension assets of accumulative pension funds made: - For 5 year period (July 2004 - July 2009) - 44.93 % (accumulated inflation level for similar period - 62.87 %). Corrected average weighted coefficient of nominal income - 40.08 %; - For 3 year period (July 2006 - July 2009) - 21.51 % (accumulated inflation level for similar period - 39.38 %); - For 12 month period (July 2008 - July 2009) - 1.62 % (inflation level for similar period - 6.9 %). For abortion of separate norms of the current Legislation, 1 written direction, 1 letter-liabilities and were demanded from accumulative pension funds in July 2009. As at August 1, 2009 one accumulative pension fund is in the process of forced liquidation by the court decision (APF Valut Transit Fund JSC). On the meeting of the Board of FSA, which was held on August 5, 2009, the management of pension funds have adopted the following resolutions: - "About Approval of Instruction on normative values of prudential norms, the method of calculation for pension funds"; - "On Making Addenda and Amendments to the Resolution of the Board of the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Institutions on March 26, 2005 # 109" On approval of Rules evaluation of financial instruments held in the investment portfolios of pension funds. " [2009-08-24]