More details about the Fund
The “State Social Insurance Fund” Joint-stock company (further the Fund) was established pursuant to the Resolution of the Government of the Republic of Kazakhstan of February 27, 2004 No. 237 “About establishment of “State Social Insurance Fund” Joint-stock company” with 100% participation of the state in its authorized capital stock. The authorized capital stock of the Fund is formed by money from the funds of the republican budget and is equal to Tenge forty-five million nine hundred fifty thousand. The increase of the authorized capital stock of the Fund may be performed on the basis of the decision of the sole shareholder, or of the court in accordance with the procedure stipulated by the legislation of the Republic of Kazakhstan.
On April 21, 2004 the Fund was registered as a legal entity (Certificate of Registration No. 16157-1901-AO). The rights of possession and use of the state-operated holding of shares of the Fund were transferred to the Ministry of Labor and Social Protection of the People of the Republic of Kazakhstan on the basis of an Acceptance report dated June 01, 2004 No. 10. The volume of issue of shares with nominal value of Tenge 1000 (one thousand) makes up Tenge 45950 thousand, while the authorized capital stock is equal to Tenge 45950 thousand. The number of issued shares is 45950 ordinary shares which are given the identification number KZ1C51240014, the form of issue is non-documentary. The issue of shares was paid in full, there are not any unfloated shares of the Fund.
The founder of the Fund is the Government of the Republic of Kazakhstan in the person of the Committee of State Property and Privatization.
The supreme body of the Fund is the sole shareholder. The rights and responsibilities of the sole shareholder of the Fund are established by the Law of the Republic of Kazakhstan dated May 13, 2003 No. 415-11 “About Joint-stock Companies” taking account of the restrictions established by the Law about social insurance.
The management body of the Fund is the Committee of Directors, which carries out the general management of the activities of the Fund, with the exception of making decisions on issues that are referred by the legislation of the Republic of Kazakhstan and the Charter of the Fund to the exclusive competence of the sole shareholder.
The executive body of the Fund is the President of the Fund, who solely performs the supervision of the current activities of the Fund.
The “State Social Insurance Fund” Joint-stock company (further the “Fund”) is a non-commercial organization in the form of a joint-stock company, the sole founder and participant of which is the state. The Fund carries out collection of social assignments and makes payments to the participants of the obligatory social insurance system in respect of which an event of social risk took place, including family members-dependants in case of loss of supporter of the family who was participant of the obligatory social insurance system.
The principal aim of the activities of the Fund is to implement the obligatory social insurance system in the Republic of Kazakhstan, to ensure safe custody and purposive use of social assignments.
The principal activities of the Fund are the following:
On April 21, 2004 the Fund was registered as a legal entity (Certificate of Registration No. 16157-1901-AO). The rights of possession and use of the state-operated holding of shares of the Fund were transferred to the Ministry of Labor and Social Protection of the People of the Republic of Kazakhstan on the basis of an Acceptance report dated June 01, 2004 No. 10. The volume of issue of shares with nominal value of Tenge 1000 (one thousand) makes up Tenge 45950 thousand, while the authorized capital stock is equal to Tenge 45950 thousand. The number of issued shares is 45950 ordinary shares which are given the identification number KZ1C51240014, the form of issue is non-documentary. The issue of shares was paid in full, there are not any unfloated shares of the Fund.
The founder of the Fund is the Government of the Republic of Kazakhstan in the person of the Committee of State Property and Privatization.
The supreme body of the Fund is the sole shareholder. The rights and responsibilities of the sole shareholder of the Fund are established by the Law of the Republic of Kazakhstan dated May 13, 2003 No. 415-11 “About Joint-stock Companies” taking account of the restrictions established by the Law about social insurance.
The management body of the Fund is the Committee of Directors, which carries out the general management of the activities of the Fund, with the exception of making decisions on issues that are referred by the legislation of the Republic of Kazakhstan and the Charter of the Fund to the exclusive competence of the sole shareholder.
The executive body of the Fund is the President of the Fund, who solely performs the supervision of the current activities of the Fund.
The “State Social Insurance Fund” Joint-stock company (further the “Fund”) is a non-commercial organization in the form of a joint-stock company, the sole founder and participant of which is the state. The Fund carries out collection of social assignments and makes payments to the participants of the obligatory social insurance system in respect of which an event of social risk took place, including family members-dependants in case of loss of supporter of the family who was participant of the obligatory social insurance system.
The principal aim of the activities of the Fund is to implement the obligatory social insurance system in the Republic of Kazakhstan, to ensure safe custody and purposive use of social assignments.
The principal activities of the Fund are the following:
- accumulation of social assignments;
- making social payments to participants of the obligatory social insurance system in respect of which an event of social risk took place, including family members-dependants in case of loss of supporter of the family who was participant of the obligatory social insurance system.
- investment activities by means of allocation of the Fund’s assets to the financial instruments via the National Bank of the Republic of Kazakhstan.
- carry out accumulation of obligatory social assignments;
- carry out the activities related to securities and other financial instruments;
- receive commission fee for the purpose of carrying out the activities of the Fund;
- receive information from the State Center for Pension Payments about flow of funds;
- request and receive information from the participants of the obligatory social insurance system which is required to support the activities of the Fund.
- ensure opportune transfer of funds for the purpose of making social payments by the State Center for Pension Payments;
- place temporarily available funds of the Fund to financial instruments via the National Bank of the Republic of Kazakhstan;
- ensure conducting of annual audit;
- fulfill other obligations in accordance with the legislative instruments of the Republic of Kazakhstan.
- pledge the assets of the Fund;
- carry out any business and other activities which are not stipulated by this Law.