The UAPF provided accounting data as of March 1 , 2023
For housing
Since January 2021, as of March 1, 2023, about 3.2 trillion tenge has been transferred from the UAPF to special accounts of Kazakhstanis opened in authorized operator banks to improve housing conditions. Thus, the Fund fulfilled 1,351,861 applications of depositors and recipients. The average amount withdrawn on one application is about 2.4 million tenge.
In February 2023, 3,400 applications were executed, which is slightly more than the number of applications executed in January 2023 (then the EPPF executed 3,061 applications). The amount of transferred savings also changed slightly: in February, 7.5 billion tenge was transferred to special accounts, whereas in the first month of 2023, more than 7.1 billion tenge of pension savings were transferred. For comparison, in February 2022, the UAPF executed 89,878 applications for improving housing conditions for a total amount of about 152 billion tenge.
On the website www.enpf .kz in the "Indicators" section, information is updated every working day on what purposes Kazakhstanis have used/plan to use lump-sum pension payments, including by region (subsections "Lump-sum pension payments for improving housing conditions by goals" and "Lump-sum pension payments for improving housing conditions", respectively).
Kazakhstanis plan to allocate 64.3% of the listed amounts for the purchase of housing in the ownership of civil law transactions (final settlement) and the construction of an individual residential building (if there is a land plot in the ownership).
Depositors (recipients) directed 12.9% of the used pension money to programs on the system of housing construction savings.
12% of the transferred amounts went to mortgage programs (from the initial payment to the full repayment of the mortgage loan).
8.24% of the listed amounts are deposits in housing construction savings for further accumulation.
Slightly more than 2% of the pension savings used went to other purposes (long-term rental of housing with subsequent purchase, purchase of a housing plot for construction, etc.).
Please note that the statistics on the applications executed by the UAPF are given. On the side of authorized operators, the goals of Kazakhstanis may change or the funds may return to the individual pension accounts (IPS) of depositors (recipients) in the UAPF. 464.8 billion tenge was returned for the entire period to the IPS of depositors (recipients) from authorized operators due to the fact that lump-sum pension payments were not used within the time limits established by law, at the request of the applicant and for other reasons. Of these, 2.1 billion tenge was returned in February 2023.
For treatment
Since January 2021, as of March 1, 2023, the UAPF has executed 407,345 applications for treatment totaling 325.7 billion tenge. The average amount of withdrawals for treatment for the period was about 0.8 million tenge. At the same time, in February 2023, 2,833 applications were executed in the amount of 3.6 billion tenge. For comparison, a month earlier, 2,537 applications were executed in the amount of 3.3 billion tenge. And in February 2022, 40,456 applications were executed in the amount of about 34 billion tenge.
Dentistry is still the most popular medical service for which pension savings are directed. More than 90% of completed applications indicate this goal.
At the same time, 32.7 billion tenge from the authorized operator (JSC "Housing Construction Savings Bank "Otbasy Bank") returned to the IPS of depositors (recipients) to the UAPF. These funds were not used within the time limits established by law, at the request of the applicant and for other reasons.
You can get acquainted with the current statistics on the use of pension savings for treatment on the website www.enpf .kz in the "Indicators" section - "Lump-sum pension payments for treatment".
To private management
As of March 1, 2023, the Investment Portfolio Manager transferred KZT 8.8 billion for the entire period on the basis of 5,947 applications. The total number of unique applicants is 3,415 people, which means that there are depositors who have decided to transfer part of their savings to several management companies. The average transfer amount is about 1.5 million tenge.
At the same time, the total amount of funds under the management of the UIP, taking into account investment income, is about 9.57 billion tenge.
As of March 1, 2023, five UIPS are operating on the market: JSC "Jusan invest", JSC "BCC Invest", JSC "Centras Securities", JSC "Halyk Global Markets", JSC "Halyk Finance". You can get acquainted with the information about them and study their investment declarations on the enpf website.kz in the "Services" section - "Register of investment portfolio managers".
Detailed statistics on the transfer of pension savings to trust management are also available on the enpf website.kz in the "Indicators" section - "Transfer of pension savings to management companies".
Recall that after the initial transfer of pension assets to the trust management of the UIP, the depositor has the right not more than once a year to submit an application to the UAPF for the transfer of his pension savings to the trust management from one UIP to another UIP. 56 applicants used this right: according to 78 applications, the UAPF made a transfer from one UIP to another for a total amount of 266 million tenge.
Recall that after receiving pension assets from the UAPF, the UIP invests them in authorized financial instruments specified in the Rules for the Implementation of Investment Portfolio Management Activities approved by Resolution No. 10 of the Board of the National Bank of the Republic of Kazakhstan dated February 3, 2014, and provided for in the Investment Declaration of the UIP.
According to the Law on Pension Provision, UIPS have the right to charge a commission for investment management. The maximum value of the remuneration of the UIP may not exceed 7.5% of the investment income received. The actual amount of the commission fee is approved annually by the management body of the UIP and may change no more than once a year.
Up-to-date information on the commission fee of the UIP for 2023 is available on the enpf website.kz in the section: "Services"-"Register of investment portfolio managers.
Depositors also have the right to submit an application to the UAPF for the return of pension savings held in the trust management of the UIP to the trust management of the National Bank, but not earlier than two years after the initial transfer of pension savings to the trust management of the UIP. Since the transfer of pension savings began in February 2021, this period has not expired yet. However, as of March 1, 2023, the statistics of the UAPF records the automatic return of pension savings from the trust management of the UIP to the trust management of the National Bank of the Republic of Kazakhstan in the amount of 33 million tenge. The reasons for auto-return are the achievement of retirement age, the death of the depositor, as well as departure for permanent residence outside the Republic of Kazakhstan.
During the period when pension savings are under the management of the National Bank until the depositor reaches retirement age, a guarantee of the safety of pension savings, taking into account the level of inflation, is in effect. When transferring pension savings to the trust management of the UIP, the guarantee of the state is replaced by the guarantee of the management company to ensure the minimum level of profitability of pension assets, which is calculated based on the weighted average yield of pension assets transferred to the management of the UIP operating in the market.
The UAPF was established on August 22, 2013 on the basis of JSC "NPF "GNPF". The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Property and Privatization Committee of the Ministry of Finance of the Republic of Kazakhstan. The trust management of pension assets of the UAPF is carried out by the National Bank of the Republic of Kazakhstan. Since January 1, 2016, the functions of developing proposals to improve the efficiency of pension asset management have been transferred to the National Fund Management Council. In accordance with the pension legislation, the UAPF attracts mandatory pension contributions, mandatory occupational pension contributions, voluntary pension contributions, pension payments, individual accounting of pension savings and payments, provides the depositor (recipient) with information on the status of his pension savings (more on www.enpf.kz )