In UAPF pension accounts for CPC are opened automatically
Now the procedure for opening a pension account in the Unified Accumulative Pension Fund is simplified and does not require the personal presence of a contributor. In accordance with the amendments to the Law on Pension Provision of the Republic of Kazakhstan, to open an individual pension saving account (IPSA) for accounting for compulsory pension contributions (CPC), an individual does not need to contact the UAPF service offices in order to file an application for opening an IPSA.
Please note that if an individual does not currently have an IPSA in UAPF, it opens automatically upon receipt of the first contribution payment. In this case, the identification of an individual is carried out according to personal data (full name, IIN, date of birth) specified in the electronic format of the payment order when transferring the CPC, and UAPF will receive all the necessary information about the details of the current identification document of the individual about the place of permanent residence from information systems of state bodies.
Thus, from January to May (inclusive) of the current year, automatically, upon receipt of the first contribution, over one million accounts were opened, more precisely 1,075,220 IPSA. This is nine times more than the accounts were opened in the past 2019 for the same period, when 121,032 IPSA were opened in the first five months.
It is worth mentioning that with the automatic opening of the IPSA, the contributor is informed about the state of their pension accumulations exclusively by personal appeal to UAPF service offices. However, you can choose a more convenient way without even coming to the UAPF offices. It is enough to register using an electronic digital signature on the Fund’s website and control your savings in your personal account on the UAPF website (www.enpf.kz) or in the mobile application (ENPF). Also, in your personal account, in just a couple of clicks, you can not only get a statement from the IPSA, but also see the current indicators of pension assets, details of contracts and much more.