Due to the fact that from April 1, 2022, the thresholds for the minimum sufficiency of pension savings will change and, accordingly, the amounts available for use for improving housing conditions and (or) treatment, as well as for transfer to investment portfolio managers, we have prepared answers to frequently asked questions.
We hope this material will help you to make and implement a decision on the use of your retirement savings promptly and consciously.
1) By what date can I apply to receive lump-sum pension payments for improving housing conditions and treatment according to the "old" minimum sufficiency thresholds calculated for 2021?
From April 1 of this year, the thresholds for the minimum sufficiency of pension savings (PMD), calculated for 2022, come into force. Earlier, by the Decree of the Government of the Republic of Kazakhstan dated December 13, 2021 No. 875 in pursuance of the instruction of the President K-Zh. Tokayev the validity period of the PMD, calculated for 2021 in accordance with the methodology for determining the PMD, was extended until April 1, 2022.
In order to exercise the right to use part of pension savings, the depositor (recipient) must:
1. Check your 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. You can do this in your personal account on the website and/or in the UAPF or e-government mobile application.
2. Having made a decision on the use of a part of pension savings exceeding the PMD, you should apply in advance for a lump-sum pension payment via the bank's Internet resource - an authorized operator. To date, authorized operators accepting applications for lump-sum pension payments in order to improve housing conditions are JSC "Housing Construction Savings Bank "Otbasy Bank", JSC "Halyk Bank of Kazakhstan", JSC "Altyn Bank", JSC "Bank CenterCredit" and JSC "Bank Freedom Finance Kazakhstan", in order to pay treatment - JSC "Housing construction savings Bank "Otbasy Bank". The authorized operator within 2 working days after consideration of the application for a lump-sum pension payment sends an electronic notification to the UAPF. On the part of the UAPF, the amount available for withdrawal is checked taking into account the PMD on the day of receipt of an electronic notification from an authorized operator. The UAPF, within 5 working days from the date of receipt of an electronic notification from an authorized operator, transfers the amount of the recipient's lump-sum pension payment to the authorized operator.
We would like to draw your attention to the fact that since the PMD for 2022 will become effective from April 1, 2022, the UAPF will make lump-sum pension payments according to the PMD values calculated for 2021, according to applications received by the UAPF from authorized operators until March 31, 2022 inclusive. Therefore, we recommend submitting an application to your authorized operator bank in advance - no later than March 28-29, 2022.
2-3) How do I apply for a one-time pension payment to improve housing conditions? How do I apply for a lump-sum pension payment for treatment?
Depositors (recipients) of UAPF JSC have the right to use part of pension savings to improve housing conditions and (or) pay for treatment that is not included in the guaranteed amount of free medical care and compulsory social health insurance, as well as for transfer to investment management to private management companies.
The right to use part of their pension savings in order to improve living conditions and (or) to pay for treatment in their favor or in favor of a spouse and close relatives may be used by the following persons who have pension savings in the UAPF formed by mandatory pension contributions (OPV) and (or) mandatory occupational pension contributions (OPPV):
1) the amount of pension savings which exceeds the threshold of minimum sufficiency of pension savings. At the same time, a one-time pension payment cannot exceed the amount of the difference between the amount of pension savings due to the OPV and (or) the OPV of the depositor (recipient) and the PMD;
2) whose pension size ensures the replacement coefficient of the recipient's average monthly income at a level not lower than 40 percent, determined in accordance with the procedure determined by the Government of the Republic of Kazakhstan. At the same time, a one-time pension payment may not exceed 50 percent of the amount of pension savings at the expense of the depositor's (recipient's) OPV and (or) OPV as of the date of receipt of the initial electronic notification from the authorized operator
3) who have concluded a pension annuity agreement with an insurance company. At the same time, a one-time pension payment may not exceed the amount of pension savings at the expense of OPV and (or) OPV on the individual pension accounts of the depositor (recipient).
In order to exercise the right to use part of pension savings, depositors (recipients) will first of all have to check their pension savings and make sure that the amount available for withdrawal is available in their individual pension account in the UAPF.
After checking their pension savings in the UAPF and making a decision on using part of the pension savings in order to improve housing conditions and (or) pay for treatment, depositors (recipients) should contact the authorized operator via the authorized operator's Internet portal to open a special account and apply for a one-time pension payment using an electronic digital signature (EDS). Authorized operators accepting applications for lump-sum pension payments to improve housing conditions are JSC "Housing Construction Savings Bank "Otbasy Bank", JSC "Halyk Bank of Kazakhstan", JSC "Altyn Bank", JSC "Bank CenterCredit" and JSC "Bank Freedom Finance Kazakhstan", for treatment - JSC "Housing Construction savings bank "Otbasy Bank".
When submitting an application for payment to an authorized operator, the depositor (recipient) must choose the method of payment of individual income tax (IIT) for a one-time pension payment (recall, when transferring contributions to the UAPF, the IIT is not charged), indicating in the application for withholding the IIT, which is also signed by the EDS, the chosen method: immediately in full at the time of payment or to keep the personal income tax in a deferred period (monthly in equal shares when reaching retirement age according to the schedule of pension payments).
The authorized operator will send an electronic notification to the UAPF within 2 (two) working days, which will contain information about the accepted application for payment, including data on the purpose of withdrawal, full name, DR, IIN, the amount of a lump-sum pension payment in the amount determined by the depositor (recipient), on the methods of withholding the IPN, with the attachment to the electronic notification of the application for the retention of the IPN, also signed by the EDS of the depositor (recipient).
After receiving an electronic notification from an authorized operator, the UAPF within 5 working days transfers to the authorized operator the amount of the one-time pension payment of the depositor (recipient), who in turn will credit it to the special account of the depositor (recipient). At the same time, the UAPF will make lump-sum pension payments according to the values of the PMD calculated for 2021, according to applications received by the UAPF from authorized operators until March 31, 2022 inclusive.
The sum of the lump-sum pension payment may be on a special account of the depositor (recipient), opened with an authorized operator (Otbasy Bank JSC), for the purpose of improving housing conditions – 20 working days, for the payment of treatment - 45 working days. For other second–tier banks that are authorized operators in order to improve housing conditions - 10 working days.
During this period, the depositor (recipient) must provide the authorized operator with documents for the intended purpose. If they are not provided within the specified time, the sum of the lump-sum pension payment will be returned by the authorized operator to the UAPF, which will credit them to the individual pension account of the depositor (recipient). The exception is the purpose of replenishing the contribution to housing construction savings for further accumulation in order to purchase a home or the construction of an individual residential building. In this case, the recipient submits to Otbasy Bank JSC documents confirming the purpose of one-time pension payments within 3 years from the date of their receipt.
Thus, all appeals of depositors (recipients) on improving housing conditions and (or) paying for treatment are considered by an authorized operator on the principle of "one window" and a separate appeal to the UAPF by the depositor (recipient) will not be required, except for their independent online receipt of information in the UAPF about the amount of pension savings available for withdrawal.
4) Why the enpf-otbasy platform does not work.kz?
Website www.enpf-otbasy .kz is managed by JSC "ZhSSB "Otbasy Bank". If you have any questions, please contact the authorized operator in the person of Otbasy Bank JSC.
5) Is it possible to apply to Otbasy Bank again if an amount exceeding the sufficiency threshold has already accumulated?
If there is an amount available for withdrawal, you can use it an unlimited number of times. However, it should be taken into account that from April 1, 2022, the minimum sufficiency thresholds will be raised and the amount available for withdrawal, calculated through the PMD, will change.
6) Why was the payment of pension savings from the UAPF refused?
The main reasons for failures and tips for their elimination and prevention from now on are presented below.
The first reason: the requested amount specified in the application exceeds the amount of pension savings available for withdrawal.