My funds above the sufficiency threshold, withdrawn to improve housing conditions, returned to the UAPF. Why could this happen?
The refund of the lump-sum pension payment occurs if the recipient did not provide the authorized operator - Housing Construction Savings Bank "Otbasy Bank" JSC - with documents confirming its use, and the money remained unclaimed for 45 days from the date of their receipt to the special account. The return is automatic. Also, the balance of money on a special account is subject to return if they were not used in full.
After the applicant's withdrawn pension savings are returned to the UAPF, within two days from the date of their receipt, they are again credited to the individual pension account and displayed in the statement. If, when withdrawing pension savings, the recipient decided to immediately pay individual income tax, then it will be returned back to the individual pension account along with the unused payment. If only part of the payment is refundable, income tax in the amount of 10% of the refunded amount will be returned to the individual pension account. That is, the investor does not need to additionally submit any applications and documents.
Subsequently, the depositor has the right to apply to the authorized operator for withdrawal of funds in excess of the pension savings adequacy threshold an unlimited number of times.