Have you read that the pension accounts of UAPF depositors will be closed if no deductions are made? I am currently unemployed, does this mean that my account will be closed? Where will my savings go in this case?
In connection with the introduction of 01.03.2021 Rules for accounting for pension savings at the expense of mandatory pension contributions, mandatory professional pension contributions and voluntary pension contributions on individual pension accounts (IPS) of depositors (recipients), approved by Resolution No. 27 of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market of February 12, 2021, we explain that the IPS of UAPF depositors, on which there are no pension savings after 1 (one) month, are closed. That is, the "empty" IPS, for which no contributions are made, will be closed. For example, earlier a depositor opened an account, got a job, applied for an account, or entered into a pension agreement, but for some reason did not start making deductions, perhaps even forgot about it.
It should be recalled that starting from 2019, an individual does not need to apply to open an IPS in the UAPF for accounting for mandatory pension contributions (OPV), an account is opened in the UAPF information system automatically when the first payment is received, the identification of an individual is carried out using personal data specified in the electronic format of the payment order when transferring the pension contribution, and all the necessary information about the details of the current document and other details of the UAPF is obtained from the information systems of state bodies. The depositor is considered to have joined the pension insurance agreement at the expense of the OPV from the date of receipt of the UAPF electronic notification from the State Corporation "Government for Citizens".
Thus, if there are savings on the IPS, but it is temporarily not replenished, it will remain in the system, and investment income will continue to accrue on it. Only accounts without savings will be closed. If a person gets a job again, or begins to make a single aggregate payment, then a new account will open automatically with the first salary, that is, the occurrence of "empty" accounts (without savings) for accounting for OPV is excluded, and for deductions for a new IPS, there will always be an opportunity.
There will also be closed IPS for which payments and transfers of the entire amount of pension savings were made and after the payment or transfer was made, no contributions were received within one month.
As long as there is at least some amount of pension contributions on your IPS, your account will not be closed.