RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of October 20, 2015 No. 194

About approval of the standard agreement of retirement annuity, establishment of the Method of calculation of insurance premium and insurance payment from insurance company under the contract of retirement annuity, admissible expense level of insurance company for conducting case on the signed agreements of retirement annuity, and also rate of indexation of insurance payment

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

1. Approve the Standard agreement of retirement annuity according to appendix 1 to this resolution.

2. Establish the Method of calculation of insurance premium and insurance payment from insurance company for the agreement of retirement annuity according to appendix 2 to this resolution.

3. Establish:

1) the admissible expense level of insurance company, branch of the insurance nonresident organization of the Republic of Kazakhstan on conducting case on the signed agreements of retirement annuity in the amount of no more 1,5 (one and a half) percent from the size of insurance premium and 3 (three) percent from each insurance payment;

2) rate of indexation of insurance payment in the amount of at least 7 (seven) percent.

4. Declare invalid the resolution of Board of National Bank of the Republic of Kazakhstan of August 27, 2013 No. 242 "About approval of the Method of calculation of insurance premium and insurance payment for agreements of the retirement annuity performed by insurance company or the independent expert, the admissible expense level of insurance company on the conducting case on the signed agreements of retirement annuity, the standard agreement of retirement annuity" (registered in the Register of state registration of regulatory legal acts at No. 8814, published on November 26, 2013 in the Yuridicheskaya Gazeta newspaper No. 178 (2553)).

5. To department of methodology of control and supervision (Abdrakhmanov N. A.) in the procedure established by the legislation to provide:

1) together with Legal support department (Dosmukhambetov N. M.) state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) the direction of this resolution on official publication in information system of law of Ad_let of the republican state company on the right of economic maintaining "The republican center of legal information of the Ministry of Justice of the Republic of Kazakhstan" within ten calendar days after its state registration in the Ministry of Justice of the Republic of Kazakhstan;

3) placement of this resolution on official Internet resource of National Bank of the Republic of Kazakhstan after its official publication.

6. To department of the international relations and public relations (Kazybayev A. K.) provide the direction of this resolution on official publication in periodic printing editions within ten calendar days after its state registration in the Ministry of Justice of the Republic of Kazakhstan.

7. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Kozhakhmetov K. B.

8. This resolution becomes effective since January 1, 2016 and is subject to official publication.

Appendix 1

to the Resolution of Board of National Bank of the Republic of Kazakhstan of October 20, 2015 No. 194

Standard agreement of retirement annuity

Insurance company or branch of the insurance nonresident organization

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