Article 57. Accounting and reporting of the unified accumulative pension fund and voluntary accumulative pension funds of the Social Code of the Republic of Kazakhstan

Home / RLA / Article 57. Accounting and reporting of the unified accumulative pension fund and voluntary accumulative pension funds of the Social Code of the Republic of Kazakhstan

1. The Unified Accumulative Pension Fund, in accordance with the procedure established by the legislation of the Republic of Kazakhstan, maintains accounting records and prepares financial statements separately according to:

1) pension assets formed by mandatory pension contributions, mandatory occupational pension contributions and voluntary pension contributions;

2) pension assets formed by the employer's mandatory pension contributions;

3) own funds intended to support the financial and economic activities of the unified accumulative pension fund.

4) target savings and target assets formed by transfers from the National Fund of the Republic of Kazakhstan.

IZPI's note! The second part of paragraph 1 is amended by the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective sixty calendar days after the date of its first official publication).

A voluntary accumulative pension fund maintains accounting records and prepares financial statements separately for its own funds and pension assets formed from voluntary pension contributions.

IZPI's note! Article 57 is provided to be supplemented by paragraph 1-1 in accordance with the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective sixty calendar days after the date of its first official publication).

1-1. The Unified Accumulative Pension Fund and voluntary accumulative pension funds submit financial and other reports to the National Bank of the Republic of Kazakhstan, as well as primary statistical data in accordance with the regulatory legal acts of the National Bank of the Republic of Kazakhstan.

2. Pension savings from mandatory pension contributions, mandatory occupational pension contributions and voluntary pension contributions are recorded in individual pension accounts of depositors of mandatory pension contributions, individuals for whom mandatory occupational pension contributions and voluntary pension contributions (recipients of pension payments) are listed separately in accordance with the procedure determined by the authorized body for regulation, control and supervision. financial market and financial organizations.

3. Conditional pension obligations are recorded in accordance with the procedure determined by the authorized body for regulation, control and supervision of the financial market and financial organizations.

4. The procedure for the formation of conditional pension obligations, including the formation and use of reserve funds, their calculation methodology and structure are determined by a regulatory legal act of the authorized body for regulation, control and supervision of the financial market and financial organizations.

5. Automated information systems in the form of software for a single accumulative pension fund and voluntary accumulative pension funds are used to record pension assets and savings in an individual pension account and ensure the reliability, safety and protection of information from unauthorized access.

The requirements for automated information systems for accounting for pension assets and savings are established by the authorized body for regulation, control and supervision of the financial market and financial organizations, taking into account the requirements of the Law of the Republic of Kazakhstan "On Informatization".

6. The accounting of pension savings from voluntary pension contributions of individuals for whom voluntary pension contributions (recipients of pension payments) are transferred is conducted by voluntary accumulative pension funds in accordance with the procedure determined by the authorized body for regulation, control and supervision of the financial market and financial organizations.

7. Control over the correctness of accounting for pension contributions and accrual of investment income to depositors of mandatory pension contributions, individuals for whom mandatory pension contributions from the employer, mandatory professional pension contributions, voluntary pension contributions (recipients of pension payments) are transferred, is carried out by the authorized body for regulation, control and supervision of the financial market and financial organizations.

8. The Unified Accumulative Pension Fund and voluntary accumulative pension funds are required to ensure the accounting and storage of documents used in accounting and in the preparation of financial statements. The list of documents to be stored and their retention periods are established by the authorized body for regulation, control and supervision of the financial market and financial organizations.

The Social Code of the Republic of Kazakhstan dated April 20, 2023

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