How lump-sum pension benefits will be paid from April 1, 2022
From April 1 of this year, the thresholds for the minimum adequacy of pension savings (MAP) calculated for 2022 come into force. Earlier, in pursuance of the instructions of the President K-Zh. Tokayev, by Decree of the Government of the Republic of Kazakhstan dated December 13, 2021 No. 875, the validity period of the MAP, calculated for 2021, was extended until April 1, 2022.
In order to exercise the right to use part of pension savings, the contributor (beneficiary) needs to check their pension savings and make sure that there is an amount of pension savings available for withdrawal in order to improve housing conditions and (or) pay for treatment. This can be done in your personal account on the website and (or) in the UAPF or e-government mobile application.
Further, having decided to use part of the pension savings, you should apply in advance for a lump-sum pension benefit through the Internet resource of the bank-authorized operator. To date, authorized operators accepting applications for lump-sum pension benefits for improving housing conditions are Housing Construction Savings Bank Otbasy Bank JSC, Halyk Bank of Kazakhstan JSC, Altyn Bank JSC, Bank CenterCredit JSC and Bank Freedom Finance Kazakhstan”, for medical treatment - Housing Construction Savings Bank Otbasy Bank JSC. The authorized operator, within 2 working days after considering the application for a lump sum pension benefit, sends an electronic notification to the UAPF. On the part of UAPF, the amount available for withdrawal is checked taking into account the MAP on the day the electronic notification is received from the authorized operator. UAPF, within five working days from the date of receipt of the electronic notification, transfers to the authorized operator the amount of the beneficiary's lump-sum pension benefit.
Please note that since the MAP for 2022 comes into force on April 1, 2022, the UAPF will make lump-sum pension benefits according to the MAP values calculated for 2021, according to applications received by the UAPF from authorized operators until March 31, 2022, inclusive.
The Law of the Republic of Kazakhstan On Pension Provision in the Republic of Kazakhstan determines that MAP is the minimum amount of pension savings formed from compulsory pension contributions and (or) compulsory occupational pension contributions, determined in accordance with the methodology approved by the Government of the Republic of Kazakhstan. The methodology for determining MAP was approved by the Decree of the Government of the Republic of Kazakhstan dated October 2, 2013 No. 1042 (with amendments and additions dated January 6, 2021.
According to the Methodology, MAP values are calculated annually for each age and take into account the increase (indexation) of future pension payments and pension contributions. At the same time, such social indicators as the minimum wage, the minimum pension, the minimum amount of the basic pension benefit are used, which are annually indexed in accordance with the Law of the Republic of Kazakhstan On the Republican Budget.
Information on MAP values is available on the UAPF website at the link https://www.enpf.kz/ru/services/withdrawal/withdrawal-check.php