RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of February 26, 2014 No. 32

About approval of Translation rules of pension accruals in insurance company under the agreement of retirement annuity

According to the Law of the Republic of Kazakhstan of January 10, 2014 "About modification and amendments in some legal acts of the Republic of Kazakhstan concerning social security" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Translation rules of pension accruals in insurance company under the agreement of retirement annuity.

2. This resolution becomes effective after ten calendar days after day of its first official publication and extends to the legal relationship which arose since January 1, 2014.

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of February 26, 2014 No. 32

Translation rules of pension accruals in insurance company under the agreement of retirement annuity

Translation rules of pension accruals in insurance company under the agreement of retirement annuity (further - Rules) are developed according to the Law of the Republic of Kazakhstan of June 21, 2013 "About provision of pensions in the Republic of Kazakhstan" (further - the Law) and determine procedure for transfer of pension savings in insurance company by the agreement of retirement annuity.

Chapter 1. General provisions

1. In these rules the concepts provided in the Law and also the following concepts are used:

1) Fund sender:

the single accumulation pension fund from which pension accruals of the investor (receiver) at the expense of compulsory pension contributions, compulsory professional pension contributions are transferred to insurance company in connection with the conclusion with insurance company of the agreement of retirement annuity;

the single accumulation pension fund or the Voluntary accumulation pension fund from which pension accruals of the investor (receiver) at the expense of voluntary pension contributions in connection with the conclusion with insurance company of the agreement of retirement annuity are translated;

2) transfer of pension savings - the consecutive actions of Fund sender, bank custodian of Fund sender necessary for transfer of the transferred amount of the pension accruals created at the expense of compulsory pension contributions, compulsory professional pension contributions and (or) voluntary pension contributions in insurance company;

3) the statement for transfer of pension savings - the written address about transfer of pension savings, the created at the expense of compulsory pension contributions, compulsory professional pension contributions, voluntary pension contributions from the single accumulation pension fund or voluntary pension contributions from the Voluntary accumulation pension fund in insurance company in connection with the conclusion with insurance company of the agreement of retirement annuity.

1-1. For the purposes of these rules the insurance company is understood as the insurance resident organization of the Republic of Kazakhstan or branch of the insurance nonresident organization of the Republic of Kazakhstan.

Chapter 2. Procedure for transfer of pension savings in insurance company under the agreement of retirement annuity

2. The investor (receiver) for the purpose of transfer of pension savings in insurance company submits the following documents to Fund sender:

1) the statement for transfer of pension savings in the form approved by the internal document of Fund sender;

2) the identity document of the investor (receiver), for identification;

3) the original of the agreement of the retirement annuity signed by the investor (receiver) with insurance company.

3. In case of impossibility of the personal address of the investor (receiver) with the statement for transfer of pension savings the investor (receiver) issues to physical person or legal entity (further - the attorney) notarially certified power of attorney on the address with the statement for transfer of pension savings with indication of in the power of attorney of the name of insurance company.

4. The attorney for the purpose of transfer of pension savings in insurance company in addition to the documents specified in subitems 1) and 3) of Item 2 of Rules, in addition provides in Fund sender:

1) the original of notarially certified power of attorney or its notarially attested copy if the power of attorney contains powers on representation of interests of the principal at the same time in several organizations;

2) notarially attested copy of the identity document of the investor (receiver);

3) the identity document of the attorney, for identification.

5. The fund sender checks correctness of specifying of the data which are subject to filling in the statement for transfer of pension savings and issues to the investor (receiver) or the attorney the receipt on documents acceptance in the form approved by the internal document of Fund sender with indication of in it the complete list of the submitted documents and date of their acceptance.

If investor (receiver) is person specified in the subitem 3) of Item 1 of Article 31, the subitem 3) of Item 1 of article 32 of the Law, the Fund sender within the agreement signed between The Government for Citizens State corporation and Fund sender requests data on availability from the addressed investor (receiver) of the established disability of the first or second group is termless.

If Fund sender is the single accumulation pension fund, then the above-stated data are requested from the centralized database of disabled people.

If investor (receiver) is person specified in the subitem 1) of Item 1 of article 32 of the Law, the Fund sender checks in the automated information system the fact of payment of compulsory professional pension contributions in total at least 60 (sixty) calendar months.

6. The fund sender in case of documents acceptance represents to the investor (receiver) or the attorney the motivated written answer with indication of the reasons of impossibility of acceptance and execution of the statement for transfer of pension savings in the following cases:

1) representation of incomplete document package, the Rules provided by Items 2 or 4;

2) lack of pension accruals on the individual retirement account of the investor (receiver) or lack of the individual retirement account opened addressed to the investor (receiver);

3) expiration of the identity document of the investor (receiver) or attorney, for date of filing of application about transfer of pension savings;

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