ANNOUNCEMENT
Young Kazakhstanis continue to actively use targeted savings within the framework of the National Fund for Children program
The UAPF continues to receive applications for the use of targeted savings within the framework of the National Fund for Children program.
Let us remind you that 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 until they reach adulthood. The first target requirements and target savings arrived in the UAPF accounts in February 2024. After turning 18, young people can use targeted savings for housing and/or education. To do this, they need to submit an application to banks that have become authorized operators for the use of target savings. The authorized operator for the use of targeted savings for housing is the Housing Construction Savings Bank Otbasy Bank JSC. Targeted savings for education can be used through two authorized operators - the Housing Construction Savings Bank Otbasy Bank JSC and the HALYK Bank of Kazakhstan JSC.
As of June 01, 2024 the UAPF executed (transferred to authorized operators for crediting to the bank accounts of applicants) 9,503 applications for a total amount of USD952,911.64, of which, in order to improve living conditions, 4,572 applications were executed in the amount of 458,220.04 US dollars, for payment for education - 4,931 applications amounting to USD494,691.60.
Home improvement
Among those who chose to use funds to improve their living conditions, the most active during the reporting period were residents of the city of Shymkent (768 applications were executed in the amount of USD77,104.16), Kyzylorda region (590 applications were executed in the amount of USD59,304.72) and East Kazakhstan region (339 applications were executed in the amount of USD34,074.72).
At the same time, the most popular sub-goals for using funds were:
- replenishment of the contribution to housing construction savings for further accumulation (4,382 applications were executed in the amount of USD439,279.86 - 95.8% of all executed applications),
- acquisition of home ownership through civil transactions (final settlement) – 60 applications in the amount of USD5,978.86 (1.3%),
- making a down payment to obtain a mortgage loan for the purchase of a home – 46 applications in the amount of USD4,622.36 (1%).
Payment for education
The most active Kazakhstanis who used funds to pay for education were also residents of the city of Shymkent (785 applications were executed in the amount of 78,817.30 US dollars), in second place were residents of the Zhambyl region (516 applications were executed in the amount of 51,712.20 US dollars) , in third place are residents of the Zhetisu region (497 applications were completed in the amount of 49,829.82 US dollars).
Among the most popular subgoals in this area are:
- 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) - 4,113 applications were completed in the amount of 412,567.58 US dollars (83. 4% of completed applications).
- replenishment of the educational savings deposit under the agreement on educational savings deposit - 595 applications were completed in the amount of 59,769.76 US dollars (12.07%),
- 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) - 153 applications were completed in the amount of 15,319.42 US dollars (3.1%).
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).
For information. The total number of program participants as of January 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 target savings account through a personal account on the UAPF Internet resource and (or) the “electronic government” web portal.
Statistical reports on accruals by age, region of the republic, as well as detailed information on payments of targeted savings in order to improve housing conditions and (or) pay for education by authorized operators and regions are available on the website enpf.kz.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz).