ANNOUNCEMENT
UAPF fulfilled more than 1.7 million applications for housing and treatment
As of June 1, 2022, from January 2021, UAPF has fulfilled 1,323,432 applications from contributors (beneficiaries) to use pension savings to improve housing conditions. More than 3.1 trillion tenge was transferred to the special accounts opened in banks-authorized operators. The average amount of lump-sum pension payments amounted to about 2.4 million tenge.
Most of the executed applications were sent by residents of Almaty (17.63%), Nur-Sultan (13.98%), Mangistau region (10.36%). Detailed information is available on the website www.enpf.kz in the “Indicators” section – it provides the information on purposes of Kazakhstanis to using lump-sum pension payments by regions (subsections “Lump-sum pension payments for improving housing conditions by purpose” and “Lump-sum pension payments for improving housing conditions”, respectively).
To date, the authorized operators accepting applications for the use of a part of pension savings are the followings: “House Construction Savings Bank” Otbasy Bank JSC, “Halyk Bank of Kazakhstan” JSC, Altyn Bank JSC, Bank CenterCredit JSC and “Freedom Finance Bank Kazakhstan” JSC. We emphasize that after receipt of a lump sum pension benefit to a special account opened with an authorized operator (“House Construction Savings Bank” Otbasy Bank JSC), the recipient provides the authorized operator with documents confirming the intended purpose of lump sum pension benefit within 20 working days from the date of their receipt (in accordance with paragraph 13 of the Rules for the use of lump-sum pension payments to improve housing conditions in accordance with the legislation of the Republic of Kazakhstan). An exception is the replenishment of the contribution to housing construction savings for further accumulation in order to purchase a dwelling or build an individual residential building (including the acquisition of a land plot with a specified purpose - individual housing construction). In this case, the recipient provides Otbasy Bank with documents confirming the intended purpose of lump-sum pension benefits in within 3 years from the date of their receipt. For other authorized operators (second-tier banks), applications for a one-time pension benefit and documents of the recipient by purpose are considered in the manner and terms established by the bank's internal documents. At the same time, the bank transfers lump-sum pension benefits for their intended purpose within 10 working days from the date of crediting the amounts of lump-sum pension benefits to the special accounts of an applicant (recipient). In case of failure to provide the authorized operator with supporting documents within the prescribed period, these funds are subject to return to the UAPF.
The recipient can also return the transferred amount to the UAPF without waiting for the specified period by submitting to the authorized operator a corresponding application, which the authorized operator must execute within 3 (three) business days from the date of receipt of the application for a refund from the recipient.
It should be noted that 446.4 billion tenge was returned to the individual pension accounts (IPA) of contributors (beneficiaries) from authorized operators due to the fact that lump-sum pension payments by Kazakhstanis were not used within the prescribed time frame, at the request of an applicant and for other reasons.
UAPF also executed 384,969 applications for treatment for a total amount of 298.0 billion tenge. At the same time, the average withdrawal amount is about 0.8 million tenge. At the same time, 29.2 billion tenge was returned to the IPA of depositors (beneficiaries) in UAPF from the authorized operator (“House Construction Savings Bank” Otbasy Bank JSC), these funds were not used in a timely manner, 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 section "Indicators" - "Lump-sum pension payments for treatment".
As of June 1st of the current year, the investment portfolio manager (IPM) transferred 8.7 billion tenge, while UAPF executed 5,870 applications. The average transfer amount is about 1.5 million tenge. Detailed statistics on the transfer of pension accumulations to trust management is also available on the website enpf.kz in the section "Indicators" - "Transfer of pension savings to management companies".
At the moment, UAPF has concluded agreements on trust management of pension assets with four IPMs. You can get acquainted with information about them and study their investment declarations on the website enpf.kz in the section "Services" - "Register of Investment Portfolio Managers".
Recall that after receiving pension assets from UAPF, the IPM invests them in permitted financial instruments specified in the Rules for the implementation of investment portfolio management activities, approved by the Resolution of the Board of the National Bank of the Republic of Kazakhstan dated February 3, 2014 No. 10, and provided for in the Investment Declaration of the IPM.
Under the Pensions Law, IPMs are entitled to charge an investment management fee. The maximum amount of remuneration of IPM cannot exceed 7.5% of the received investment income. The actual amount of the commission is annually approved by the governing body of the IPM and may change no more than once a year.
Before the beginning of retirement age and during the period when pension accumulations are under the management of the National Bank, there is a guarantee on pension savings, which takes into account the level of inflation. When transferring pension savings to the management of IPM, the state guarantee is replaced by the guarantee of a management company to ensure the minimum level of profitability of pension assets, which is calculated based on the weighted average profitability of pension assets transferred to the management of IPM operating on the market.
The UAPF was established on August 22, 2013 on the basis of GNPF APF JSC. The UAPF founder and shareholder 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. UAPF pension assets are managed by the National Bank of the Republic of Kazakhstan. From January 1, 2016, the functions for developing proposals to improve the management of pension assets were transferred to the National Fund Management Council. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, pension benefits, individual accounting of pension accumulations and benefits, provides the contributor (beneficiary) with information on the status of his pension accumulations (for more information visit www.enpf.kz)