INFORMATIONAL MESSAGE
About a million Kazakhstanis used pension savings to buy housing and (or) treatment
About 1 million unique applicants used pension savings to buy housing and (or) treatment. Pension savings, as you know, can be used by citizens an unlimited number of times within the amount of pension savings in the UAPF, available for withdrawal for housing, treatment or transfer to management companies.
Since January 2021, as of May 1, 2023, the UAPF has executed 1,361,040 applications from depositors (recipients) for the use of pension savings to improve housing conditions. The UAPF transferred more than 3.2 trillion tenge to special accounts of Kazakhstanis opened in authorized operator banks. At the same time, the average amount of one-time pension payments amounted to about 2.35 million tenge. The number of unique applicants was 692,936 people. Thus, some depositors (recipients) have repeatedly used the right to lump-sum pension payments for housing.
The most active in this direction were residents of Almaty (17.55%), Astana (13.96%), Mangystau region (10.31%). On the website www.enpf .kz the "Indicators" section contains detailed information: for what purposes Kazakhstanis apply for lump-sum pension payments and by region (subsections "Lump-sum pension payments for improving housing conditions by goals" and "Lump-sum pension payments for improving housing conditions", respectively).
When analyzing the purposes for which depositors (recipients) use their savings, the following conclusions can be drawn: about 36% of all applications are the purchase of a dwelling in the ownership of civil transactions (final settlement) and the construction of an individual residential building (if there is a land plot in the ownership), about 21% of applications are for use by depositors (recipients) of pension funds under housing construction savings programs, about 21% of applications - in order to replenish the contribution to housing construction savings for further accumulation, about 20% of applications are for the use of a housing mortgage loan: from the initial payment to refinancing and full repayment.
To date, the authorized operators accepting applications for the use of part of pension savings 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".
It should be noted that about 469.46 billion tenge was returned to individual pension accounts (IPS) of depositors (recipients) from authorized operators due to the fact that lump-sum pension payments by Kazakhstanis were not used in due time, at the request of the applicant and for other reasons.
The UAPF also executed 414,326 applications for treatment in the amount of 334.08 billion tenge. The average withdrawal amount is about 0.8 million tenge. The number of unique applicants was 302,034. Thus, as in the case with the use of pension savings for housing, some Kazakhstanis used their funds several times.
More than 96% of applications were executed for dental services, 2.71% of applications – for ophthalmological services. Less than 1% of pension savings were used for other medical areas.
At the same time, 33.13 billion tenge was returned to the IPS of depositors (recipients) in the UAPF, these funds were not used in due time, according to the applicant's application and 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 "Indicators" section - "Lump-sum pension payments for treatment".
As of May 1 of this year, 8.9 billion tenge has been transferred by the Investment Portfolio Manager (IPM) since 02/18/2021, the UAPF has executed 5,968 applications. The average transfer amount is about 1.5 million tenge. Detailed statistics on the transfer of pension savings to trust management are also available on the enpf website.kz in the "Indicators" section - "Transfer of pension savings to management companies".
At the moment, the UAPF has concluded agreements on the trust management of pension assets with five UIPS. You can get acquainted with the information about them and study their investment declarations on the enpf website.kz in the "Services" section - "Register of investment portfolio managers". It should be noted that out of 8.9 billion tenge - 44.29% or 3.9 billion tenge was transferred to JSC "Jusan Invest", 28.04% or 2.5 billion tenge to JSC "Halyk Global Markets", 16.14% or 1.4 billion tenge to JSC "BCC Invest", 10.05% or 0.9 billion tenge to JSC "Centras Securities", 1.49% or 132 million tenge in JSC "Halyk Finance".
After the initial transfer of pension assets to the trust management of the UIP, the depositor has the right not more than once a year to submit an application to the UAPF for the transfer of his pension savings to the trust management from one UIP to another. For the period from March 2022 to April 2023, 76 applicants changed their decision on the choice of a UIP: the UAPF executed 102 applications for transfer from one UIP to another for a total amount of 323 million tenge.
101 people decided to use the right to return their savings to the management of the NBK two years after the initial transfer of pension savings to the trust management of the UIP. From March 15 to April 30, 2023, the UAPF executed 168 applications for the transfer of funds to the NBK from the UIP for a total amount of 625 million tenge.
Recall that after receiving pension assets from the UAPF, the UIP invests them in authorized financial instruments specified in the Rules for the Implementation of Investment Portfolio Management Activities approved by Resolution No. 10 of the Board of the National Bank of the Republic of Kazakhstan dated February 3, 2014, and provided for in the Investment Declaration of the UIP.
During the period when pension savings are under the management of the National Bank of the Republic of Kazakhstan until the depositor reaches retirement age, a guarantee of the safety of pension savings, taking into account the level of inflation, is in effect. When transferring pension savings under the management of the UIP, the guarantee of the state is replaced by the guarantee of the management company to ensure the minimum level of profitability of pension assets, which is calculated based on the weighted average yield of pension assets transferred to the management of the UIP operating in the market.
UAPF was established on August 22, 2013 on the basis of JSC "NPF "GNPF". The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Property and Privatization Committee of the Ministry of Finance of the Republic of Kazakhstan. The trust management of pension assets of the UAPF is carried out by the National Bank of the Republic of Kazakhstan. Since January 1, 2016, the functions of developing proposals to improve the efficiency of pension assets management have been transferred to the National Fund Management Council. In accordance with the pension legislation, the UAPF attracts mandatory pension contributions, mandatory occupational pension contributions, voluntary pension contributions, pension payments, individual accounting of pension savings and payments, provides the depositor (recipient) with information on the status of his pension savings (more on www.enpf.kz )