In the UAPF personal account, in the "Services" tab, select the "Transfer of Pension Savings to the trust management of the investment portfolio manager" tab. In this section you choose JSC "Jusan Invest". In the UAPF application, you can transfer the desired part of pension savings to private management. Our professional team, following its strategy, invests in reliable and profitable financial instruments. You receive income from retirement savings and investments. Upon reaching retirement age, you will receive your savings together with the increase from investments. Detailed video instruction
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The transfer of pension savings is available to citizens who have not reached retirement age and have pension savings in the UAPF that exceed the minimum sufficiency threshold.
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The state of pension savings can be viewed on the eGov website.kz or in the eGov.kz application. At the same time, through your personal account on the UAPF website or using an assistant cabinet.enpf.kz/porog, you can check how many funds are available for transfer to trust management.
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In the UAPF personal account, in the "Services" section, then in the "Transfer of pension savings" section, you must select the management company and the amount. The UAPF will make a transfer to the management company of your choice, which invests according to its strategy and investment declaration.
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Within 30 calendar days from the date of receipt of the application, the UAPF will transfer assets from the trust management of the NBRK to the trust management of Jusan Invest.
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Depositors retain the right to transfer their pension savings to another management company or return to the pension system of the UAPF under the management of the National Bank of the Republic of Kazakhstan.
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The main terms of the Pension Savings Management Agreement are determined by the regulatory legal act of the Authorized Body. The established requirements include, but are not limited to, the procedure for managing pension assets, the minimum yield allowed for acquisition of financial instruments, and the financial stability of management companies. These requirements serve as the basis for determining the style and strategy of managing pension savings of Jusan Invest.
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The results of the investment activity of JSC "Jusan Invest" can be tracked on the UAPF website. Preliminary information on the structure and strategy of investing pension savings proposed by JSC "Jusan Invest" can be found on our website.
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Since the process of transferring pension savings to the trust management does not relate to withdrawal, the transferred assets will not be taxed.
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If you transferred your savings to the management of Jusan Invest, then you will be able to return them back to the UAPF after 2 years.
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Assets are located outside the balance sheet of any organization, in the Central depository and the International depository. According to the Law on the Securities Market of the Republic of Kazakhstan, securities are stored and recorded only in banks that are not affiliated with us. Even if the management company defaults, nothing will happen to the assets transferred to management.
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The team has chosen a balanced investment strategy, implying a reasonable distribution of assets by currencies, classes of instruments, industries and geography. The most important investment criterion is the investment attractiveness of financial instruments and the risks associated with them. Detailed information and portfolio composition at the link
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Yes, it is possible to divide them between several Management Companies and at the same time, you can even leave any amount in the UAPF. But migration between Management Companies is possible only once a year.
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You can send any amount above the minimum allowable threshold. The transfer function to Jusan Invest will appear in your personal account in the UAPF, and you will see there exactly what amount can be transferred.
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The income from the investment will be reinvested. Upon reaching retirement age, you will receive your retirement savings along with investment income.
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There is a legal limit on the currency of 50% in tenge, i.e. part of the amount must be invested in tenge. And where to invest pension money in tenge so as not to take risks?! Only in NBRK notes and bonds of the Ministry of Finance. At the moment, the rates are quite high and have a good premium to inflation.
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We do not charge a management fee. Only the commission from the investment income at the level of 5%. For example, the yield on the portfolio will be 15%, of which 0.75% is our commission.
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There is no provision for investors to participate in the investment, because this is a trust management. Moreover, all the money will be depersonalized, and we will not even know which of the depositors transferred the funds to our management company.
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The management company can change the investment strategy once a year.
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The securities are out of the balance sheet of any organization, so everything will remain intact. Moreover, the securities are stored in depositories, not banks, and will be returned to the UAPF custodial account.
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Local securities - in the Central Securities Depository (a subsidiary of the National Bank), foreign securities - in Euroclear. We work only in the legal field of the Republic of Kazakhstan.
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Since the transfer of pension savings to the management company does not apply to withdrawal, the transferred assets are not taxed.
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The minimum target yield on your retirement savings managed by Jusan Invest is 13%.
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This is the minimum target profitability in tenge, the result of our backtest shows an average annual return of 16.07% per annum over the past 7 years.
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Pension savings transferred to the management company retain all the same properties and principles as those in the UAPF.
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Management companies must ensure a minimum level of profitability for pension assets taken into management. The minimum level of profitability = 70% of the weighted average profit of all pension assets transferred to the management of private management companies (PMC). In the event of a negative difference between the nominal return received by Jusan Invest and the minimum return on pension assets following the results of the estimated period, Jusan Invest will have to compensate this difference to the depositor at the expense of its own capital. For example, the weighted average return of all PMC will be at the level of 15%, which means that each PMC should provide a return of at least 10.5% (70% of 15). If the PMC shows 9%, then Jusan Invest compensates for the difference of 1.5% (10.5–9) from its own capital.
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The management company takes care of these costs.
*Custodian Bank is a professional participant of the securities market, which carries out accounting of financial instruments and money of clients and confirmation of rights on them, custody of clients' documentary financial instruments with assumption of obligations on their safekeeping and other activities in accordance with legislative acts of the Republic of Kazakhstan.
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Such a mechanism is not provided for in the current version of the law, but discussions on this issue are taking place in the AFK.
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Depositors have the right to transfer savings for other purposes within the time limit established by law.
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You can view the profitability of pension assets transferred to management in your personal account on the UAPF website/Personal Account/Services/Getting an statement from the IPA. The last page of the received document contains data for the period since the transfer.
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Cancellation of the application is available only before the execution of the specified application by the UAPF, i.e. before the retirement savings are written off from the IPA. The application for cancellation does not require specifying the reason, i.e. the reason is an independent decision of the depositor. Please note that the executed application cannot be canceled, even if it was submitted in error. We ask you to be careful.
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