As of August 1, 2022, from January 2021, UAPF has executed 1,328,015 applications from contributors (beneficiaries) for the use of pension accumulations to improve housing conditions. More than 3.1 trillion tenge was transferred to the special accounts of Kazakhstanis 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 (17.60%), Nur-Sultan (14.03%), Mangistau region (10.35%). Detailed information is available on the website www.enpf.kz in the “Indicators” section - for what purposes do Kazakhstanis plan to use lump-sum pension payments and by regions (subsections “Lump-sum pension payments for improving housing conditions by goals” 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 accumulations are Housing 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 payment to a special account opened with an authorized operator (Housing Construction Savings Bank Otbasy Bank JSC), the recipient provides the authorized operator with documents confirming the intended purpose of lump sum pension payments 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 designated purpose - individual housing construction. In this case, the recipient provides Otbasy Bank with documents confirming the intended purpose of lump-sum pension payments in within 3 years from the date of their receipt. For other authorized operators (second-tier banks), applications for a one-time pension payment 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 payments for their intended purpose within 10 working days from the date of crediting the amounts of lump-sum pension payments to the special accounts of the 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 UAPF.
The recipient can also return the transferred amount to 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 450.6 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 established time frame, according to the applicant's application and for other reasons.
UAPF also executed 388,824 applications for treatment for a total amount of 302.5 billion tenge. At the same time, the average withdrawal amount is about 0.8 million tenge. At the same time, 31.3 billion tenge was returned to the IPAs of depositors (beneficiaries) in UAPF from the authorized operator (Housing Construction Savings Bank Otbasy Bank JSC), these funds were not used on time, 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 August 1 of this year, the investment portfolio manager (IPM) transferred 8.7 billion tenge, UAPF executed 5,877 applications. The average transfer amount is about 1.5 million tenge. Detailed statistics on the transfer of pension savings 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 the 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.
During the period when pension savings are under the management of the National Bank until the depositor reaches retirement age, there is a guarantee of the safety of pension savings, taking into account the level of inflation. When transferring pension savings to the management of the IPM, the state guarantee is replaced by the guarantee of the management company to ensure the minimum level of profitability of pension assets, which is calculated on the basis of the weighted average profitability of pension assets transferred to the management of the 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)