If a devaluation occurs and the value of the US dollar rises, we will pay more under the retirement annuity agreement.
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In November 1993, Kazakhstan had its own currency, the Tenge. During its existence, it has come a long way, switched to a freely floating exchange rate and fell 80 times. In the last 10 years alone, the Tenge has experienced three devaluations. During the last time, the national currency fell from 120 to 384 Tenge per Dollar (at the beginning of 2016).
We offer a solution - a retirement annuity program with devaluation protection. If the value of the US dollar rises, Freedom Life will pay more.
Amount of the additional payment is equal to the difference (if any) between the Dollar equivalent of the first pension at the date of the agreement conclusion and the Dollar equivalent of subsequent payments under the pension annuity agreement at the exchange rate at the date of payment.
Your benefits
Early Retirement
At 55 for men and at 53 for women
Annuity payments with devaluation protection
If devaluation happens, we will pay additional amount
Lifetime pension
Receiving regular payments throughout life. Payments do not stop, even if their amount exceeds the amount of the transferred savings
Profitable Investment
Indexation of insurance payments. Annually the amount of the pension will increase by 5% and this will be fixed in the insurance contract
Voluntary contributions
Ability to use voluntary pension contributions to conclude an agreement if the amount in the UNPF is currently insufficient
Inherited savings
You can inherit your savings if you use the terms of the guaranteed period *, which allows the heirs to receive benefits before it expires
Insurance conditions
- For a 55-year-old man - 7 985 465 Tenge
- For a 52-year-old woman - 10 465 611 Tenge
- For a man 45 years old - 7 263 310 Tenge
- For a 45 year old woman - 9 090 362 Tenge
- For men from 40 years old with CPPC - 8 205 844 Tenge
- For women over 40 with CPPC - 10 157 716 Tenge
CPPC - Compulsory Professional Pension Contributions.
Size of the annuity payment depends on the amount of pension savings, but cannot be lower than 70 percent of the subsistence level in effect on the date of conclusion of the pension annuity agreement.
How It Works
1
The Insured Determines
The amount of retirement savings to be transferred and the guaranteed period.
2
We are counting
Payment schedule and annuity payment, taking into account an annual increase of 7%.
3
We conclude an agreement
The policyholder and JSC "LIC "Freedom Life" conclude a Pension Annuity Agreement and an Insurance Agreement for an additional payment at the dollar rate.
4
Interaction with the UNPF
UNPF transfers pension savings to JSC "LIC "Freedom Life".
5
Getting paid
After the start of the agreement, Freedom Life LIC starts making annuity payments on schedule and additional payments in the event of an increase in the US dollar rate.
Sign the Agreement
- Click the button below to submit an online application.
- Afterwards, we will contact you. You will need to fill out a questionnaire and sign the agreement.
- You can pay the agreement monthly, quarterly, semi-annually, or in a lump sum.