In order to return the erroneously credited amount, the tax agent (employer) must contact the State Corporation “Government for Citizens” with an application for the return of erroneously transferred compulsory pension contributions. This application is also accompanied by a notarized statement of the contributor (beneficiary) agreeing to write off the erroneously credited amounts from his/her individual pension saving account.
The amount of your savings can be checked in your Personal Account on the UAPF website or mobile application. If you have never logged into your UAPF personal account, we recommend that you log in through the UAPF website using an EDS key and set a password that suits you for your Personal Account, so that in the future you can easily and quickly log into the mobile application and monitor regularity and the completeness of contributions, the accrual of investment income and the total amount of savings.
You can check your account statement in your Personal Account on the e-government portal egov.kz, as well as in any UAPF branch.
Incoming pension contributions are not just kept in individual pension saving accounts, but are invested and generate income for contributors. At the same time, the investment of pension savings is carried out by the National Bank and investment portfolio managers (IPM) in various financial instruments in various sectors of the economy, in different currencies. However, the situation in financial markets may change under the influence of economic, political and other factors that affect income in the form of interest on securities (deposits and other transactions), income in the form of market and currency revaluation of financial instruments, income on assets located in foreign countries. management, etc. Therefore, in certain periods, investment income can be both positive and negative, which is reflected in the total amount of pension savings. At the same time, diversification of the investment portfolio, when income on some instruments covers temporary losses on others, ensures the safety and sustainable profitability of pension savings in the long term. After all, let us remind you that pension savings are long-term investments and you need to analyze the amount of investment income for a period of at least one year.
But even if the instability of the financial markets is long-term and the real return is lower than inflation at the time of receiving the right to payments, the state guarantees beneficiaries the safety of compulsory pension contributions (CPC) and compulsory occupational pension contributions (COPC) under the management of the National Bank of the Republic of Kazakhstan in the amount of funds actually contributed from taking into account the level of inflation. Management companies are responsible for the safety of contributions with their own capital and guarantee the provision of a minimum level of return, which is calculated based on the weighted average return on pension assets transferred to the management of the pension insurance system operating on the market.
The calculation of minimum sufficiency thresholds (MST) is carried out in accordance with the determination methodology approved by the Decree of the Government of the Republic of Kazakhstan dated June 30, 2023 No. 521.
According to this methodology, when calculating the MST, such social indicators as the minimum wage, the minimum amount of the state basic pension payment, the minimum pension, the cost of living, as well as a number of other indicators are taken into account - the annual percentage rate of return on pension assets, the indexation rate of pension benefits from the Unified Accumulative Pension Fund, forecast frequency of compulsory pension contributions, age of pension benefits and others. At the same time, the indicators used in the Methodology have different effects on the size of the thresholds, and together they make it possible to calculate the required amount of pension savings required for each age of the contributor.
Thus, as a result of the calculations made, taking into account the approved socio-economic indicators and forecast data on the rate of annual return on pension savings, the MST size for 2024 was maintained at the level of 2023. Information about MST for each age is posted on the website enpf.kz.
The right to pension benefits from the UAPF in connection with leaving for permanent residence outside of Kazakhstan can be used by foreigners and stateless persons who have left for permanent residence outside the country and who have pension savings in the UAPF at the expense of compulsory pension contributions (CPC), compulsory occupational pension contributions (COPC) and voluntary pension contributions (VPC), and submitted documents in accordance with Kazakhstani legislation.
When receiving documents, the UAPF requests information from the information systems of government bodies of Kazakhstan about the availability of documents certifying the identity of a citizen of Kazakhstan, or a residence permit of a foreigner in Kazakhstan, or a certificate of a stateless person issued by an authorized Kazakh body, and their validity.
If these documents (in connection with the departure of the applied foreigner or stateless person outside the country for permanent residence, or the cancellation of a foreigner or stateless person’s permanent residence permit in Kazakhstan, or the loss/renunciation of Kazakhstan citizenship) are not valid, the UAPF makes a pension benefit payment.
There are 3 ways to submit documents to the UAPF:
You can pre-check the documents being sent for pension payments from the UAPF by using the UAPF electronic service “Preliminary check of documents for pension benefit payment”.
Please note that pension savings are paid only to the bank account of the beneficiary him/herself, including if the beneficiary is an incapacitated/partially capable adult. Payment of pension savings to the bank account of a legal representative (guardian/trustee), as well as an authorized person, is not allowed. Thus, a person applying for permanent residence in another country cannot transfer his pension savings to his close relatives or other persons.
Pension benefit payments to foreigners and stateless persons who have left for permanent residence outside the Republic of Kazakhstan are made at a time, unless otherwise provided by international treaties ratified by the Republic of Kazakhstan (clause 14, paragraph 2, chapter 2 of the Resolution of the Government of the Republic of Kazakhstan dated June 30, 2023 No. 521), within 10 (ten) working days from the date of receipt or receipt of the established documents by the UAPF.
For your information, we inform you that the UAPF website contains a list of necessary documents depending on the method of submitting them to the UAPF, requirements for their execution, as well as application forms and samples for filling them out, a sample power of attorney.
|
Why you need to apply for your pension on time?
The UAPF reminds that persons who have pension savings in the UAPF, formed through compulsory pension contributions and (or) compulsory occupational pension contributions, and who have reached the generally established retirement age, as well as persons with disabilities of the first and second groups, if the disability is established indefinitely, have the right to receive pension benefits from the UAPF according to the established schedule.
To assign pension benefits from the UAPF in connection with reaching retirement age, beneficiaries must promptly contact the Public Service Center at their place of residence, and for payment in connection with the establishment of disability of the first or second group indefinitely - to the UAPF divisions, including through the UAPF website if there is an electronic digital signatures. Documents can be submitted to the Public Service Center along with the application 10 days before the beneficiary reaches retirement age. We strongly recommend that you adhere to this deadline, because this is especially important for receiving a state pension, the assignment of which requires verification of work experience based on the submitted documents. In addition, according to the law, the assignment of old-age pensions and state basic benefits is made from the date of application. Such a day is considered the day of registration of the application and necessary documents in the Government for Citizens State Corporation (hereinafter referred to as the State Corporation, PSC) Let us remind you that people who have reached the generally established retirement age can receive an old-age pension: men upon reaching 63 years of age, women upon reaching 61 years of age in 2024. Pension benefits from the UAPF are made until pension savings are exhausted. Meanwhile, in order to provide proactive services for making pension benefits from the UAPF to persons who have reached retirement age, have pension savings in the UAPF and have not applied for their payment, the UAPF conducts an annual reconciliation together with the State Corporation to determine whether these citizens have assigned pension benefits according to age and state basic pension benefit from budget funds. Based on the results of the annual reconciliation, when identifying persons who have assigned pension benefits from budgetary funds, the UAPF makes pension benefit payments to them within the framework of the relevant agreement concluded with the State Corporation.
Thus, according to the results of the annual reconciliation as of March 1 of this year, out of about 200 thousand persons who have reached retirement age, have pension savings in the UAPF and have not applied for their payment, according to the State Corporation: · about 45 thousand people are not recipients of old-age pension benefits/basic pension; · about 92 thousand people are recipients of pension benefits based on age/basic pension/long service at the expense of budgetary funds, of which: - about 20 thousand citizens this year independently submitted applications to the Public Service Center at their place of residence for a pension benefit from the Unified Accumulative Pension Fund; - about 72 thousand citizens were assigned pension benefits from the UAPF in a proactive format based on the results of reconciliation; · about 63 thousand people have left for permanent residence outside the Republic of Kazakhstan or have died.
Thus, according to the results of the above reconciliation, the UAPF during March-April of this year paid pension benefits from the UAPF to about 72 thousand citizens without their contacting the Public Service Center in a proactive format.
|
As of May 1, 2024, within the framework of the National Fund for Children program, UAPF JSC executed (transferred to authorized operators for crediting to the bank accounts of applicants) 5,845 applications for a total amount of 585,641.64 US dollars, of which for the purpose of improving housing conditions, 2,634 applications were fulfilled in the amount of 263,664.90 US dollars, for payment of education - 3,211 applications in the amount of 321,976.74 US dollars.
Note that the recipient of target savings has the right to use both the entire amount due to him and part of it, while the balance of the unused amount remains in the target savings account (TSA).
Let us recall that in February 2024, the first TSA payments began to be received in the UAPF for citizens who reached 18 years of age in 2024, as part of the National Fund for Children program. According to the program, 50% of the investment income of the National Fund of the Republic of Kazakhstan (hereinafter referred to as the National Fund) is annually distributed among child citizens of the Republic of Kazakhstan of all ages up to 18 years.
TSA funds are intended to be used to improve housing conditions and pay for education through authorized operators who have entered into appropriate agreements with the UAPF, and are stored in US dollars. After reaching the age of majority, recipients of targeted savings can use them for the specified purposes.
The authorized operator for the use of targeted savings for housing is Otbasy Bank Housing Construction Savings Bank JSC.
You can use targeted savings for education through two authorized operators - Otbasy Bank Housing Construction Savings Bank JSC and Halyk Bank of Kazakhstan JSC.
Housing Improvement
The most active among those who chose to use funds to improve their living conditions were residents of Shymkent (526 applications were executed in the amount of 52,870.40 US dollars), in second place were residents of the Kyzylorda region (354 applications were executed in the amount of 35,582.52 US dollar), in third place are residents of Astana (204 applications were completed in the amount of US $20,399.30.
At the same time, the most popular sub-goals for using funds were: replenishing the deposit in housing construction savings for further accumulation (2,502 applications were completed in the amount of 250,502.02 US dollars), purchasing a home as a property under civil law transactions (final settlement) - 37 applications per the amount of 3,718.20 US dollars, making a down payment to obtain a mortgage loan for the purchase of a home – 32 applications in the amount of 3,215.08 US dollars.
Payment for Education
The most active Kazakhstanis who used funds to pay for education were residents of the city of Shymkent (584 applications were executed in the amount of 58,613.30 US dollars), in second place were residents of the Zhambyl region (322 applications were executed in the amount of 32,312.44 US dollars), in third place are residents of the Zhetisu region (287 applications were completed in the amount of 28,772.44 US dollars).
Among the most popular subgoals in this area, one can highlight payment for educational services of educational organizations located on the territory of the Republic of Kazakhstan, in shares (for each academic period or academic year) or in full at a time (for the entire period of study) - while 2,684 applications for the amount of 269,052.22 US dollars. In second place in popularity is replenishment of an educational savings deposit under an educational savings deposit agreement (386 applications were completed in the amount of 38,762.64 US dollars), in third place is payment for educational services of foreign educational organizations in shares (for each academic period or academic year) or in full at a time (for the entire period of study) (95 applications were completed in the amount of 9,539.52 US dollars).
Let us remind you that the amount will increase annually due to the growth of the National Fund and the receipt of investment income. In addition, the accrued funds will continue to be invested as part of the National Fund’s assets and bring additional investment income to children participating in the program until they reach the age of 18.
The total number of program participants as of 01/01/2024 is 6,919,131 children (children born from January 01, 2006 to December 31, 2023 inclusive). Of these, 304,815 participants will turn 18 years old in 2024 (children born from January 01, 2006 to December 31, 2006 inclusive). They were all awarded the same target claim amount of $100.52.
Parents or other legal representatives of a minor can check information about including a child in the list of participants in target requirements on the website kids.enpf.kz using the child’s IIN, where you can familiarize yourself with the terms of the program, receive instructions, and answers to questions of interest.
Parents can also check data on accruals for each child in their personal account on the egov.kz portal.
Kazakhstanis who turn 18 in 2024 can independently check the receipt of funds for the TSA through their personal account on the UAPF Internet resource and (or) the “electronic government” web portal.
Statistical reports on accruals by age and regions of the republic are posted on the website enpf.kz.
Detailed information on payments of targeted savings in order to improve housing conditions and (or) pay for education in the context of authorized operators and regions can be found on the website enpf.kz.
In the period from January 01, 2024 until March 31, 2024, the Unified Accumulative Pension Fund provided over 18.7 million services to the population. Of the transactions carried out, more than 6.1 million were carried out in electronic format, 12.1 million in automatic format, and more than 180 thousand in remote format. More than 296 thousand services were provided in person, including more than 279 thousand directly in the offices of the Fund.
As you know, the main operations of the UAPF, such as opening accounts and making many types of payments, are carried out automatically. The number of such services is growing steadily. In the first three months of 2024, the total number of open individual pension savings accounts (IPSA) for all types of pension contributions, including notional pension accounts (opened as a result of the transfer of ECPC by the employer) and target savings accounts (TSA - within the framework of the National Fund for Children program) exceeded 3.8 million. Target requirements of participants in the National Fund for Children program and payments to recipients of target savings are also taken into account in an automatic format.
Receiving a statement from an individual pension savings account is still a popular service. Since the beginning of the year, more than 6.9 million statements have been issued from the IPSA/NPSA/TSA, of which 5.4 million are in electronic form and more than 1.2 million in automatic mode.
During the reporting period, 90.9 thousand applications for lump sum pension benefits were accepted automatically. Of these, 63.6 thousand are for improving living conditions, 27.3 thousand are for paying for medical treatment.
The UAPF reminds that in the personal account on the website and in the mobile application, contributors (beneficiaries) have the opportunity to use services such as making changes and additions to their details, bank details, obtaining a certificate of availability of an individual pension savings account, submitting an application for the assignment of pension benefits in connection with establishing disability of group 1 or 2 indefinitely or through voluntary pension contributions, tracking the status of an application for payment, transferring part of the savings to an investment portfolio manager (IPM), predictive calculation of a future pension using a pension calculator, transfer of voluntary pension contributions, etc. 24/7 anywhere in the world.
For January-March 2024, more than 64.2 thousand applications were accepted to change details, of which 56.3 thousand were received at the Fund’s offices. When turning to UAPF specialists for a particular service, contributors, as a rule, receive additional consultations and advice on creating savings.
В рамках информационно-разъяснительной работы проведены более 8,4 тыс. выездных презентаций, на которых присутствовали 187 тыс. человек. В средствах массовой информации были размещены более 9,7 тыс. материалов по сообщениям ЕНПФ.
The number of contributor requests received through feedback channels amounted to more than 180 thousand.
Let us remind you that any company can apply for a presentation and consultation on the funded pension system with a visit to the office, for which you just need to call the call center at 1418 or contact through the Fund’s website or mobile application.
Consulting services of the UAPF can be obtained through messengers (chat bot on WhatsАpp and Viber at +7 777 000 14 18), call center at 1418 (calls within Kazakhstan are free), on the corporate website enpf.kz, as well as on official pages UAPF on social networks Instagram, Facebook, VKontakte, X, Telegram, Odnoklassniki.
Foreigners and stateless persons who have pension savings in the UAPF and who have left Kazakhstan can receive pension savings in full (minus individual income tax) before retirement age. To do this, they need to provide the fund (in person, by mail, or through an attorney or legal representative) with a package of documents, which can be found on the UAPF website. After this, pensions will be paid in a lump sum within ten working days.
Kazakh citizens who have retired due to long service can also use all their pension savings to improve their living conditions and (or) pay for medical treatment, namely:
- military personnel;
- employees of special government and law enforcement agencies;
- employees of the state courier service and other persons who have a length of service in military service, service in special state and law enforcement agencies, state courier service of at least 25 years and have reached the age limit established by law upon dismissal from service.
The full list of persons entitled to receive pension payments for long service is determined by Article 212 of the Social Code. To receive lump sum pension benefits to improve their living conditions, long-service pensioners can contact Otbasy Bank or other second-tier banks. To pay for medical treatment - only at Otbasy Bank.
At the same time, Kazakhstanis who have entered into a pension annuity agreement with a life insurance company can use all their pension savings early for housing and medical treatment, thereby ensuring that they receive monthly pension benefits of at least 70 percent of the subsistence level. A complete list of persons entitled to transfer pension savings to an insurance organization and the required package of documents for this is also listed on the official website of the fund.
We also inform you that persons who have pension savings in the UAPF, formed through compulsory pension contributions (CPC), can use part of their pension savings to improve their living conditions and pay for medical treatment:
- whose amount of pension savings exceeds the minimum sufficiency threshold. At the same time, a one-time pension payment cannot exceed the difference between the amount of pension savings at the expense of CPC and (or) compulsory occupational pension contributions of the contributor (beneficiary) and the established minimum sufficiency threshold;
- accomplished pensioners who have savings in the UAPF. They can use up to 50 percent of the remaining amount for housing and/or medical treatment, but only if their total pension (including old-age pension, basic pension and benefit payments from the Unified Accumulative Pension Fund) is at least 40 percent of their previously received salary.
The right to transfer pension savings to IPM trust management can be used by contributors of compulsory pension contributions (CPC), individuals for whom compulsory occupational pension contributions (COPC), voluntary pension contributions (VPC) are transferred, in an amount not exceeding:
- fifty percent of the amount of pension savings in the individual pension savings account (IPSA) of the CPC contributor, an individual for whom COPC are transferred, as of the date of receipt of this person’s application for (on) selection (change) of IPM. Upon subsequent transfer to IPM trust management, the amount of pension savings is determined taking into account previously transferred pension savings, taking into account IPM investment income (application must be submitted no more than once a year from the date of transfer of pension savings to IPM trust management);
Or
- not exceeding the amount of pension savings at the expense of CPC and (or) COPC on their individual pension insurance in the case of a concluded pension annuity agreement with an insurance organization;
- the amount of pension savings generated at the expense of VPC, subject to transfer to trust management of IPM, does not exceed the amount of available pension savings on the IPSA for VPC accounting.
Before transferring part of your pension savings to IPM trust management, it is recommended that you familiarize yourself with the current list of IPMs on the market, study their investment declarations on the UAPF website, reviews of investment activities, and learn more about the experience and performance results of the selected private company. You can get information about IPM and study their investment declarations on the website www.enpf.kz in the “Services” section - “Register of investment portfolio managers”. Detailed statistics on the transfer of pension savings to IPM trust management are also available on the website www.enpf.kz in the “Indicators” section - “Transfer of pension savings to management companies.”
We also note that pension savings can be transferred from one IPM to another no more than once a year. If you decide to return your savings to the management of the National Bank of the Republic of Kazakhstan (hereinafter referred to as the NBRK), this can be done no earlier than 1 year from the date of transfer of pension savings to IPM trust management.
Moreover, if pension savings were transferred several times to trust management of the same IPM in accordance with the application for the selection of IPM, then the return of pension savings to trust management of the NBRK is carried out no earlier than one year from the date of the initial transfer of pension savings to IPM trust management.