3. A recipient shall be obliged:
1) within 3 days after beginning to work to inform about personified pension account numbers and data of the accumulative pension fund;
2) inform the accumulative pension fund about changes that influence the fulfillment of accumulative pension fund obligations before a recipient.
Article 29. Pension Rules of Accumulative Pension Funds.
1. Accumulative pension funds shall establish pension rulesincluding:
1) procedure for changing or discontinuation of the pension contract;
2) procedure and conditions of pension contributions and payments;
3) responsibilities on obligations of accumulative pension fundsbefore recipients and contributors;
4) information about status of pension accumulations;
5) terms of transfer of pension accumulation from one accumulative pension fund to another;
6) other particularities of relations between accumulative pension funds, contributors and recipients;
2. Pension Rules shall be approved by the authorized body.
1. Pension rules must not infringe upon the interests of contributors to accumulative pension funds and a recipient of voluntary contributions.
Article 30. Pension Contract of the Contributor and the Accumulative
Pension Fund
1. A pension contract shall be concluded between an accumulative pension fund and a contributor in the written form in accordance with the standard pension contract.
2. Standard pension contract shall be worked out and approved by the authorized body and shall contain the following data:
1) name, legal address and banking information of the accumulative pension fund;
2) last name, name, patronymic (if available) and address of a contributor (if an individual), name, location and bank information (if a legal entity);
3) subject of the contract;
4) parties' rights and obligations;
5) procedure and terms of pension contribution payment;
6) personified account number;
7) procedure for reporting of an accumulative pension fund on the status of pension accumulation;
8) responsibilities of parties for non-fulfillment of the obligations;
9) validity of the contract;
10) procedure and terms of the contract annulment and changing;
11) information on a recipient of voluntary pension contributions.
Article 31. Responsibility of Pension Contract Parties
1. An accumulative pension fund shall be responsible for its obligations before a contributor and a recipient only by its own property.
2. Recipients and contributors shall be not responsible for the accumulative pension fund obligations, as well as the accumulative pension fund shall be not responsible for recipients' and contributors' obligations.
Chapter 8. Organization of Accumulative Pension Funds
Article 32. The State Accumulative Pension Fund
1. The State Accumulative Pension Fund shall be established as a closed joint stock company the founder of which is the Government of the Republic of Kazakhstan.
2. The State Accumulative Pension Fund shall exercise its activity by allocation of pension assets to state securities, deposits of state banks, securities of international financial institutions within the procedure defined by the authorized body on regulation of securities market.
Article 33. Types of Non-State Accumulative Pension Funds
1. Non-state accumulative pension funds may be:
1) open ended;
2) corporate.
2. Open-ended accumulative pension funds shall accept pension contributions from citizens irrespective of their employment, and place of residence.
3. Corporate accumulative pension funds shall be created for recipients-employees of one or several legal entities who are the founders and shareholders of this fund.
4. Cancellation of the labor contract of a recipient and a legal entity shall be the grounds for pension contract cancellation with corporate accumulative pension funds.
Article 34. Organizational-Legal Form of a Non-State Accumulative
Pension Fund
A non-state accumulative pension fund shall be created in the form of a closed-end joint-stock company.
Article 35. Affiliates and Representations of Accumulative Pension
Funds
Accumulative pension funds shall have the right to open branches andrepresentations upon the agreement of the authorized body
Article 36. Founders and Shareholders of a Non-State Accumulative
Fund
1. Founders and shareholders of an open ended accumulative pension fund may be legal entities and individuals, residents of the Republic of Kazakhstan. Legal entities of the Republic of Kazakhstan may be the founders and shareholders of a corporate accumulative pension fund.
1. During foundation of an accumulative pension fund no entity shall be entitled to direct or indirect ownership and management of more than25 per cent of voting shares of such accumulative pension fund.
During operation of an accumulative pension fund no entity shall be entitled to direct or indirect ownership and/or management of more than 25 per cent of voting shares of such accumulative pension fund except cases permitted by the authorized body.
These restrictions shall be not applied to a corporate accumulative pension fund.
3. A state owned enterprise and an enterprise with a block of shares or a state share may not be founders or shareholders of non-state accumulative pension funds except cases permitted by the authorized body.
4. In the event of decrease of pension accumulations real value shareholders of corporate accumulative pension funds shall bear solidarity responsibility for it and shall reimburse the losses of the investment income within the procedure specified by the Government of the Republic of Kazakhstan.
Article 37. State Registration of Accumulative Pension Funds
State registration of accumulative pension funds shall be carried out in accordance with legislation of the Republic of Kazakhstan.
Article 38. Name of a Non-State Accumulative Pension Fund
1. Name of non-state accumulative pension fund must contain the words «accumulative pension fund».
2. Non-state accumulative pension funds shall be forbidden to use in their names the words «national», «central», «state», «governmental», «guarantying», «guaranteed», «insuring», «insured» full or abbreviated forms in any language. Name must not affirm or mean insurance of guarantee of investment income rate made in favor of a recipient.
Article 39. Licensing of Activity Concerning Collection of Pension
Contributions, Allocation of Pension Assets and Performing of Pension
Payments
1. The authorized body within the procedure established by legislation shall license activity on collection of pension contributions and performing of pension payments.
2. Procedure for licensing on pension contribution collection, and performing of pension payments of accumulative pension funds shall be defined by legislation on licensing.
3. The authorized body shall have the right to suspend a license for activity of the accumulative pension fund for six months on any of the following grounds:
1) doubtful information on which a license was based;
2) accumulative pension fund activity delay for more than a yearfrom the day of a license granting;
3) systematic non-fulfillment or improper fulfillment by the fund of its obligations on pension contracts (three and more cases during 12 successive calendar months);
4) violation of legislative and normative acts of the Republic of Kazakhstan, Rules of an accumulative pension fund and normative acts of the authorized body or non-fulfillment of written instructions of the authorized body;
5) non-submission or submission of deliberately doubtful reporting and data;
4. Decision on suspending of a license to activity of the accumulative pension fund made by the authorized body shall be brought to the attention of contributors to an accumulative pension fund.
Article 40. Procedure for Holding a Managerial Position in
Accumulative Pension Funds
1. Head of the Executive body and his deputies, Chief Accountant and his deputies, First Manager and Chief Accountant of the branch (representation) shall be considered to be the managerial staff of an accumulative pension fund.
2. The following person may not be a member of the managerial staff of an accumulative pension fund:
- having no higher education;
- having conviction, which is not cancelled within procedure specified by the law;
- who was the manager or the official of the legal entity declared bankrupt or subject to sanitation, forced liquidation during his management.
3. A citizen shall have the right to be a manager of accumulative pension funds on passing the qualification test within the procedure established by the authorized body.
Article 41. Rights, Obligations and Carrying out of Activity of
Accumulative Pension Funds
1. Accumulative pension funds shall have the right to:
1) carry out collection of pension contributions;
2) receive commissions for its activity;
1. exercise other rights according to the conditions of a pension contract.
2. Accumulative pension funds shall be obliged to:
1) perform pension payments to recipients within the procedure established by the Government of the Republic of Kazakhstan;
2) carry out individual accounting of pension contributions and pension payments;
3) provide a contributor and a recipient with the information on his pension contributions not less than once a year and on his request;
4) provide confidentiality of information on the recipient's pension contributions;
5) be responsible for violation of pension legislation and terms of a pension contract in accordance with legislation of the Republic of Kazakhstan;
6) transfer the recipient's pension accumulations from one accumulative pension fund to another on his request;
7) conclude contracts with a company on management of pension assets to investment management of pension assets (except the State Accumulative Fund);
8) publish statistic and other information about its activity for standard periods of time of one, three, five and ten calendar years; publication of information on guarantee and promises of income on contributions to accumulative pension funds shall be not allowed;
9) provide citizens who concluded pension contracts with the accumulative pension funds with equal terms;
10) bear other responsibilities in accordance with legislation of the Republic of Kazakhstan.
3. For the purpose of protection of rights and interests of contributors the accumulative pension funds shall be prohibited to:
1) perform industrial activity;
2) trade of movable and immovable property, except securities and other financial instruments defined by the authorized body on regulation of securities market;
3) perform insurance activity;
4) transfer pension assets under mortgage;
5) issue of other types of securities except shares;
6) establishment of a «golden share» of a non-state accumulative pension fund.
Article 42. Effective Measures Applied by the Authorized Body
1. In case of violation of legislation by the accumulative pension funds the authorized body shall have the right to apply the following effective measures:
1) issue a written instruction on elimination of revealed shortfalls within the established terms, which is obligatory for fulfillment;
2) put forward the question before shareholders on dismissal of the managerial staff of the accumulative pension fund;
3) impose and exact penalties within the procedure specified by legislation;
4) discontinue or recall a license.
2. An accumulative pension fund or a person to whom the authorized body has applied effective measures shall have the right to appeal its actions within the legal procedure.
Article 43. Reorganization of a Non-State Accumulative Pension Fund
1. Reorganization (merger, joining, division, separation) of a non-state accumulative pension fund shall be carried out according to the decision of the shareholders' General Meeting on permission of the authorized body.
Petition on getting permission for reorganization of a non-state accumulative fund shall be accompanied by the following documents:
- decision of the General Meeting of a non-state accumulative pension fund on its reorganization;
- documents, which describe presumed conditions, forms, procedure and terms of reorganization of a non-state accumulative pension fund;
- financial forecast of the impact of reorganization including the settlement balance of a non-state accumulative pension fund after its reorganization and legal entities formed as a result of reorganization of the non-state accumulative pension fund.
Petition on obtaining permission for reorganization of a non-state accumulative pension fund shall be considered by the authorized body within one month beginning the day of submission of the full package of documents.
2. The reorganized accumulative pension fund within 2 weeks beginning the day of getting permission from the authorized body for reorganization shall inform all its contributors and recipients on the forthcoming changes by way of written notification and publishing of a corresponding announcement in mass media.
Article 44. Rejection of Granting Permission for Reorganization of a
Non-State Accumulative Pension Fund
Rejection of granting permission of the authorized body for reorganization of a non-state accumulative pension fund shall be made on any of the following grounds:
1) in the absence of proper decisions of the General Meeting of shareholders of a reorganized non-state accumulative pension fund;
2) violation of contributors' and recipients' interests as a result of estimated reorganization;
3) violation of the requirements of antimonopoly legislation as a result of estimated reorganization.
Article 45. Liquidation of a Non-State Accumulative Pension Fund
1. An accumulative pension fund may be liquidated:
1) according to the decision of the General Meeting of shareholders of a non-state accumulative pension fund on availability of permission of the authorized body;
2) according to court decision in cases stipulated by legislative acts of the Republic of Kazakhstan.
1. Voluntary and forced liquidation, authorities of the Liquidation Commission shall be defined by legislation of the Republic of Kazakhstan with regards to details set forth in paragraphs 3-7 of the present Article.
2. Petition of an accumulative pension fund on obtaining permission to voluntary liquidation must be considered by the authorized body during a month beginning the day of submission:
- decision of the General Meeting of shareholders on voluntary liquidation;
- evaluation of pension assets as of the day of making decision on liquidation;
- measures on the period and stages of transfer of pension assets and preparation of accumulative pension funds to cancellation of its activity approved by the General Meeting of shareholders.
In the event of giving permission to voluntary liquidation the authorized body must give grounds for its decision and inform the management and the shareholders of the accumulative pension fund on rejection.
On receiving permission of the Authorized body to voluntary liquidation the accumulative pension fund shall create a liquidation commission to the composition of which one representative of the Authorized body shall be included.
3. A liquidated non-state accumulative pension fund must notify recipients and contributors by mail and through mass media about liquidation of non-state accumulative pension fund within 10 days.
4. The Liquidation Commission shall undertake measures on transfer of pension assets of a liquidated non-state accumulative pension fund, its obligations on pension contracts to another non-state accumulative pension fund within the procedure established by the Authorized body.
Recipients and contributors of liquidated non-state accumulative pension fund shall have the right to choose another fund within the period of time specified by the Liquidation Commission.
5. The Liquidation Commission shall be obliged within seven days after adoption of the liquidation balance sheet and the report to present them to the Authorized body and to the RK Ministry of Justice.
6. The creditors' demands of the liquidated non-state accumulative pension fund shall be met after transfer of pension assets within the procedure established by legislation of the Republic of Kazakhstan.
Chapter 9. Equity of accumulative pension funds
Article 46. Formation of Equity of Accumulative Pension Funds
Equity of accumulative pension funds shall be formed at the expense of:
1) contributors' and shareholders' contributions to the Charter Capital;
2) commissions;
3) other sources stipulated by legislation.
Article 47. Particularities of Formation of the Charter Capital of
Accumulative Pension Funds
1. The Government of the Republic o Kazakhstan shall define the amount of the Charter Capital of the State Accumulative Pension Fund.
2. The Authorized body shall define minimum amount of the Charter Capital of a non-state accumulative pension fund.
3. The Charter Capital of an accumulative pension fund shall be paid by cash means.
4. On formation of the Charter Capital to pay for shares of a non-state accumulative pension fund resources of legal entities within their equity or their net assets shall used.
5. The Charter Capital must be fully paid as of the moment of obtaining a license.
Article 48. Commissions of Accumulative Pension Funds
1. Maximum amount of commissions received, as percentage of pension contributions and investment income shall be specified by the Authorized body.
Distribution of commissions between a non-state accumulative pension fund and a company on management of pension assets shall be defined by the contract.
It is forbidden to conclude an agreement with affiliated companies on pension assets management on more favorable terms and amounts of distribution of commissions in comparison with non-affiliated companies on pension assets management.
2. Income received from use of accumulative pension fund's equity shall be totally owned by the accumulative pension fund.
Chapter 10. Accounting and reporting of accumulative pension funds.
Secret of pension accumulations
Article 49. Accounting in Accumulative Pension Funds
1. Accumulative pension funds shall keep accounting and submit financial reporting within the procedure specified by legislation.
2. Accounting of pension accumulations on recipients' individual accounts shall be carried out within the procedure defined by the Authorized body.
Article 50. Secret of Recipient's Pension Accumulations
1. Secret of pension accumulations shall include information about availability, of recipients and numbers their individual pension accounts, about the balance and cash flow on these accounts.
Accumulative pension funds shall guarantee the secret of pension accumulations.
2. Officials, personnel of accumulative pension funds and other persons who due to their official responsibilities have access to information, which is considered a secret of pension accumulations shall not have the right to disclose information, which is the secret of pension accumulations and shall bear responsibility for disclosure in accordance with legislation of the Republic of Kazakhstan except the cases specified by paragraphs 3-5 of the present Article.
3. The secret of pension accumulations may be disclosed to a contributor who perform pension contributions, to the recipient or to a third person on the basis of the recipient's written agreement.
4. Certificates on balances and cash flow on individual pension accounts may be submitted to:
1) bodies of inquiry and preliminary investigation - on cases under their proceeding;
2) courts - on cases under court proceedings based on court decisions;
3) tax bodies - on the issues related to taxation of an examined entity.
5. Certificates on availability of a recipient's individual pension account, on balances and cash flow on them in case of the recipient's death shall be given to persons mentioned in the will, courts, notary offices and foreign consulate institutions on inherited cases
Chapter 11. Management of pension assets of a non-state accumulative
pension fund
Article 51. Procedure for Management of Pension Assets of a
Non-State Accumulative Pension Fund
Investment management of pension assets of a non-state accumulative pension fund shall be carried out by an company on management of pension assets within the procedure specified by the Authorized body on regulation of securities market.
Article 52. Companies on Management of Pension Assets of Non-State
Accumulative Pension Funds
1. Companies on management of pension assets of non-state accumulative pension fund shall be legal entities, professional participants of securities market created in the form of a closed-end joint-stock company within the procedure stipulated by legislation.
2. Name of a company on non-state accumulative pension fund pension assets management must contain the words «company on management of pension assets».
3. Minimum amount of the Charter Capital of the company on management of pension assets, the procedure for its formation and the structure shall be specified by the Authorized body on regulation of securities market.
4. Property of a company on management of pension assets shall be separated from pension assets of a non-state accumulative pension fund.
5. Maximum amount of commissions paid by a non-state accumulative pension fund to a company on management of pension assets shall be specified by the Authorized body on regulation of securities market.
Article 53. Managerial Staff of the Company on Management of Pension
Assets
1. First Manager of Executive body and his deputies, Chief Accountant and his deputies, Manager and Chief Accountant of a branch (representation) shall be considered as the managerial staff of the company on management of pension assets.
2. The following individuals may not be managers of a company on management of pension assets:
- individuals without higher education;
- individuals with non-canceled previous conviction in accordance with the procedure established by Law;
- an individual who previously was a manager of a legal entity, which was announced bankrupt or undergone conservation, sanitation, forced liquidation during the given individual's management.
3. Candidacy of the manager of the company on management of pension assets shall be elected by founders or shareholders on the agreement with the Authorized body on regulation of securities market.
4. A citizen shall have the right to take the position of a manager of a company on management of pension assets upon availability of a proper qualification certificate issued by the Authorized body on regulation of securities market.
Article 54. Investment Management of Pension Assets of a Non-State
Accumulative Pension Fund
1. Investment management of non-state accumulative pension fund pension assets shall be carried out on the basis of the agreement with one company on management of pension assets according to its choice.
2. A management company shall have the right to sign contracts on management of pension assets simultaneously with two or more non-state accumulative pension funds if conditions set in part three of the given Article are observed.
3. The amount of the management company's equity must be increased in proportion to the amount of pension assets under the management within the procedure specified by the Authorized body on regulation of security market.
4. The contract on management of pension assets shall be signed in the written form, non-compliance of the condition on the written form of the contract shall result to its invalidity.
5. The rules of the contract on trust property management shall be applied to the contract on management of pension assets.
Article 55. Obligations and Restrictions of the Activity of a
Company on Management of Pension Assets
1. A company on management of pension assets shall be obliged to:
1) invest pension assets within the procedure set by the Authorized body on regulation of securities market;
2) evaluate pension assets on a regular basis within the procedure set forth by legislation;
3) regularly transfer pension accumulations to recipients' pension payments within the procedure defined by the contract signed with a non-state accumulative pension fund;
4) regularly report on its operations to a non-state accumulative pension fund and the Authorized body on regulation of securities market;
5) publish information on their activities within the procedure defined by the Authorized body on regulation of securities market;
6) fulfill other obligations established by the Authorized body on regulation of securities market and the contract on management of pension assets.
2. For the purpose of protection of rights and interests of non-state accumulative pension funds the company on management of pension assets shall be prohibited to:
1) issue other types of securities except shares;
2) raise loan funds from banks for the period exceeding three months in the amount not exceeding the amount of equity;
3) purchase securities of affiliated persons and conclude other transactions with affiliated persons;
4) lend funds in any ways;
5) sell securities that are in the structure of pension assets on the conditions of their mandatory back purchase;
6) purchase any securities at marginal cost;
7) sign agreements on sale of securities that are not in the ownership of a non-state accumulative pension fund («short sales») as well as agreements for purchase of securities that are not issuing;
8) give any types of guaranties, conclude mortgage transactions with pension assets;
9) publish information containing guaranties and promises of revenues on pension assets investment;
10) carry out activity in the sphere of material production and trade of property other than securities and financial instruments.
Article 56. Formation of Equity of a Company on Management of
Pension Assets
The Authorized body on regulation of securities market shall specify procedure for formation of equity of an asset management company.
Article 57. Prudential Norms Obligatory for Observance
The Authorized body on regulation of securities market shall specify prudential norms obligatory for observation for the purpose of providing guaranties of solvency and financial stability of an asset management company.
Article 58. Licensing of Activity on Investment Management of
Pension Assets
Activity of an asset management company on investment management of pension assets of a non-state accumulative pension fund shall be licensed by the Authorized body on regulation of securities market within the procedure set forth by legislation.
Article 59. Responsibility of an Asset Management Company
In case of improper management of pension assets non-state accumulative pension fund may lay a claim to court on discontinuation of investment management and reimbursement of losses.
Section IV. Particularities of pension provision of military,
personnel of bodies of internal affairs and the state investigation
committee of the Republic of Kazakhstan
Chapter 12. Right to service pension payments
Article 60. Right to Service Pension Payments
1. The following military, personnel of bodies of Internal Affairs and the State Investigation Committee of the Republic of Kazakhstan shall be entitled to service pension payments:
1) having military service and service in bodies of Internal Affairs of not less than 25 years, of cut-off age specified by legislation of the Republic of Kazakhstan;
2) having military service and service in bodies of Internal Affairs of not less than 25 years, discharged within staff reduction procedure and for medical reason;
3) officers of military service, commanding and rank and file personnel of bodies of Internal Affairs and the State Investigation Committee of cut-off age established for military service, service in who reached the cut off age specified by legislation of the Republic of Kazakhstan being in bodies of Internal Affairs and the State Investigation Committee with total service period of 25 years and more including not less than 12 years and 6 months of military service and service in bodies of Internal Affairs and the State Investigation Committee of the Republic of Kazakhstan.
2. Military, personnel of bodies of Internal Affairs, the State Investigation Committee of the Republic of Kazakhstan discharged on the grounds, which are not mentioned in paragraph 1 of the present Article shall be entitled to pension payments on general terms in accordance with the present Law.
Article 61. Amounts of Service Pension Payments
1. Pension payments to military, personnel of bodies of Internal Affairs and the State Investigation Committee granted in accordance with paragraph 1 Article 60 of the present Law shall be specified as 60 per cent of military allowance defined in accordance with Article 60 of the present Law.
2. Pension payments for military, personnel of bodies of Internal Affairs and the State Investigation Committee granted in accordance with paragraph 1 Article 60 of the present Law, having service period not less than 10 years as of January 1, 1998 shall be specified as 2.4 per cent of military allowance defined in accordance with Article 63 of the present Law per each year of service as of January, 1 1998.
3. The amount of pension payment shall be increased by 2 per cent for each year of military service and the service in bodies of Internal Affairs exceeding 25 years.
1. The amount of pension payments shall be increased by 1 per cent of allowan ce specified in accordance with Article 63 of the present Law for each year of the total labor service exceeding 25 years
2. Total amount of pension payment calculated in accordance with paragraphs 1- 3 of the present Article may not exceed 75 per cent of allowance specified in accordance with Article 63 of the present Law.
Article 62. Calculation of Service Period
Calculation of years of service for military, personnel of bodies of Internal Affairs and the State Investigation Committee shall be made within the procedure specified by the Government of the Republic of Kazakhstan.
Article 63. Amount of Allowance Taken into Account for Pension
Provision
1. Amount of allowance taken into account for pension provision of military, personnel of bodies of Internal Affairs and the State Investigation Committee shall be defined as of the day of discharge (exclusion from the list of personnel) from service.
2. Amount of allowance taken into account for pension provision of military, personnel of bodies of Internal Affairs and the State Investigation Committee shall include the amount of salary according to position, salary (increment) on military (special) rank, proper increment on service period, the cost of ration and other increments established by legislation of the Republic of Kazakhstan.
3. Amount of allowance taken into account for pension provision of military, personnel of bodies of Internal Affairs and the State Investigation Committee shall be approved by a proper certificate of the established form signed by the corresponding financial body of the last service place.
Article 64. Period of Time for Granting and Carrying out of Pension
Payments
1. Payments from the Republican and the local budgets granted to military, personnel of bodies of Internal Affairs and the State Investigation Committee shall be made beginning the day of discharge from service (exclusion from the list of personnel) but not earlier than the day on which the allowance is paid.
2. Pension payments to military, personnel of bodies of Internal Affairs and the State Investigation Committee from the republican and local budgets shall be made in full irrespective of availability of salary of the recipient or other income as well as in case of their entering the state service.
3. Pension payments to military, personnel of the bodies of Internal Affairs and the State Investigation Committee from individual pension accumulations shall be made in accordance with the pension contract.
Article 65. Funds for Pension Payments
1. Pension provisions of individuals who retired before January 1, 1998 out of military and personnel of the State Investigation Committee of the Republic of Kazakhstan shall be carried out from the Republican budget, for personnel of bodies of Internal Affairs - from funds stipulated for maintenance of the corresponding services with retaining the established pension amount.
2. Pension provision to military and personnel of bodies of the State Investigation Committee of the Republic of Kazakhstan having military service or service in the bodies of the State Investigation Committee as of January, 1 1998 of more than 10 years shall be carried out from the Republican budget; personnel of bodies of Internal Affairs having service period as of January, 1 1998 more than 10 years from the funds stipulated for maintenance of bodies of Internal Affairs.
3. Military, personnel of bodies of Internal Affairs and the State Investigation Committee having military service period in bodies of the State Investigation Committee and Internal Affairs less than 10 years as of January 1, 1998, the procedure for payments to the State Accumulative Pension Fund or a non-state accumulative pension fund shall be specified as 20 per cent of the amount of military allowance defined by paragraph 2 Article 63 of the present Law, on an individual pension account by the contributor's choice.
Pension payments to the military, personnel of bodies of the State Investigation Committee of the Republic of Kazakhstan and the bodies of Internal Affairs shall be carried out from accumulative pension funds on the basis of individual pension accumulations as well as from the republican budget.
Pension payments to personnel of the Ministry of Internal Affairs shall be carried out from accumulative pension funds from individual pension accumulations and from funds stipulated for maintenance of bodies of Internal Affairs.
4. Military, personnel of bodies of Internal Affairs and the State Investigation Committee entered the service after January 1, 1998 shall be under the procedure for pension accumulation formation in accordance with paragraph 3 of the present Article. Pension payments for them shall be carried out from accumulative pension funds on the basis of individual pension accumulations.
Article 66. Bodies Carrying out of Pension Provision to Military,
Personnel of Bodies of Internal Affairs and the State Investigation
Committee
1. Pension provision to military, personnel of bodies of Internal Affairs and the State Investigation Committee who receive pension payments at the expense of resources of the republican and local budgets shall be carried out by the corresponding bodies of the Ministry of Defense and Internal Affairs, the State Investigation Committee, the Committee on National Security, the Republican Guard and the Services for President Security of the Republic of Kazakhstan.
