How to cancel an application for transferring pension savings into trust to theIPM?

From January 2021, legislative norms came into force that provide citizens with the right to use part of their pension savings not only to improve housing conditions and (or) pay for medical treatment, but also to transfer to management companies (investment portfolio managers - IPM) to investment management.

The contributor's pension savings can be transferred to IPM management:

- in the amount not exceeding the difference between the actual amount of pension savings of the contributor to the UAPF and the threshold for the minimum sufficiency of pension savings; or

- in an amount not exceeding the balance of pension savings on the contributor's account with the UAPF, in the case of a signed pension annuity agreement with an insurance organization, providing for lifelong benefits.

To transfer pension savings to one or several IPMs, a contributor must apply to the UAPF with an application. The application can be submitted through a personal account on the enpf.kz website or by personal contact to any regional branch of the UAPF. Step-by-step instructions for transferring IPM pension savings are posted on the website enpf.kz in the "Services" section - "Transfer of a part of the savings into the trust management of IPM"

UAPF transfers part of pension savings in excess of the sufficiency amount to the trust management of IPM within 30 calendar days after the date of receipt of the application from the contributor. Until the transfer of the declared amount to the investment portfolio manager, the contributor can change his decision to transfer part of the savings into trust and cancel his application.

Having made such a decision, the contributor must apply to the UAPF with an application, which can be submitted by personal appeal to any regional branch of the UAPF with an identity document, or through the Personal Accounton the enpf.kz website, where a new service for cancellation of applications for the transfer of pension savings has been launched into trust management of IPM.

When submitting an application for cancellation through your Personal Account on the enpf.kz website, you must perform the following steps:

• you first need to log in to your Personal Account;
• then go to the subsection of the Personal Account "Services" - "My applications for benefits / transfers";
• after that you need to make sure that the status of the application that you want to cancel has the status - "Accepted for processing";
• further, when viewing the details of this application, the "Cancel" button will be active for selection;
• the next step is to read and agree / disagree with the information provided, and sign an application with a personal digital signature.

Note that, if necessary, it is possible to view and / or download the cancellation statement.