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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of July 26, 2013 No. 185

About approval of Rules of collection of commission fee by the single accumulation pension fund

(as amended on 27-04-2021)

According to the Law of the Republic of Kazakhstan of June 21, 2013 "About provision of pensions in the Republic of Kazakhstan" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve Rules of collection of commission fee by the single accumulation pension fund.

2. This resolution becomes effective after ten calendar days after day of its first official publication, and extends to the relations which arose on August 23, 2013.

Chairman of National Bank

G. Marchenko

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of July 26, 2013 No. 185

Rules of collection of commission fee by the single accumulation pension fund

Chapter 1. General provisions

1. These rules of collection of commission fee by the single accumulation pension fund (further – Rules) are developed according to the subitem 3) of article 8 of the Law of the Republic of Kazakhstan of June 21, 2013 "About provision of pensions in the Republic of Kazakhstan" (further – the Law on provision of pensions) and determine procedure for collection of commission fee by the single accumulation pension fund (further - ENPF).

Chapter 2. Procedure for collection of commission fee of ENPF

2. For the purpose of collection of commission fee of ENPF from pension assets calculation and charge of commission fee are performed from current value of pension assets of ENPF determined according to the Rules of implementation of accounting and assessment of pension assets approved by the resolution of Board of National Bank of the Republic of Kazakhstan of February 26, 2014 No. 24, registered in the Register of state registration of regulatory legal acts at No. 9274, as of the beginning of day of the first at which calculation and charge of commission fee will be made.

3. Charge of commission fee of ENPF from pension assets is made in proportion to the number of calendar days in month in which calculation is made.

4. Collection of commission fee from pension assets is made by transfer of commission fee from the investment account of ENPF on the current account ENPF based on the reconciliation statement signed by authorized representatives of the bank custodian managing investment portfolio and ENPF.

5. For calculation and charge of commission fee from investment revenue the daily investment revenue from pension assets of ENPF is used. The commission fee from investment revenue is calculated and charged daily.

In case of negative investment revenue the negative commission fee is calculated by use of the size of commission fee approved by the managing director of pension assets according to article 53 of the Law on provision of pensions.

The cumulative commission fee from investment revenue for month under report decreases by the amount of negative commission fee.

In case of excess of negative commission fee over cumulative commission fee in month under report the amount of excess is recognized quality of receivables on the added negative commission fee from investment revenue on pension assets.

6. The commission fee from investment revenue calculated according to Item 5 of Rules is listed from the investment account of ENPF on condition of lack of receivables on cumulative negative commission fee, as of the end of month under report.

In case of agreement cancelation with managing investment portfolio pension assets are transferred to the control to National Bank of the Republic of Kazakhstan from the managing director of investment portfolio and the managing director of investment portfolio compensates receivables on the added negative commission fee (in case of its availability) at the expense of equity by transfer to the investment account of ENPF.

 

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