According to the National Fund for Children program, 50% of the investment income of the National Fund of the Republic of Kazakhstan is distributed once a year among children who are citizens of the Republic of Kazakhstan, who were born in 2006 and later. In February 2024, based on the results of 2023, the first target requirements were accrued to all children in the UAPF, and citizens who reached 18 years of age in 2024 were credited with target savings (TS) on target savings accounts (TSA) and payments began to be made.
The procedure for using TS for the purpose of improving housing conditions and/or paying for education is defined by:
- the Resolution of the Government of the Republic of Kazakhstan dated January 18, 2024 No. 16,
- Order of the Minister of Industry and Construction of the Republic of Kazakhstan dated February 26, 2024 No. 76 On approval of the Rules for the use of payments of target savings from the unified accumulative pension fund for the purpose of improving housing conditions in accordance with the legislation of the Republic of Kazakhstan and
- Joint order of the Minister of Science and Higher Education of the Republic of Kazakhstan dated February 7, 2024 No. 51 and the Minister of Education of the Republic of Kazakhstan dated February 12, 2024 No. 29 On approval of the Rules for the use of payments of target savings from the unified accumulative pension fund for the purpose of paying for education in accordance with the legislation of the Republic of Kazakhstan.
The step-by-step algorithm of actions can be presented as follows:
For your information, we inform you that for the 2023 reporting year, all TS recipients were credited with 100.52 US dollars.
You can read the terms of the program, get instructions, and answers to your questions on the website kids.enpf.kz and on the БЖЗҚ ЕНПФ YouTube channel. We also note that a video instruction on the implementation of the National Fund for Children program, the algorithm of actions before and after the child reaches adulthood is posted on the БЖЗҚ ЕНПФ YouTube channel at the link: https://www.youtube.com/watch?v=HHQNAxfskX8.
Let us note that for 7 months of program implementation, as of August 1, 2024, UAPF JSC executed (transferred to authorized operators for crediting to the bank accounts of applicants) 16,891 applications for a total amount of about USD1.7 million, of which for the purpose of improvement housing conditions, 9,544 applications were executed in the amount of about USD956.7 thousand, for payment of education - 7,347 applications in the amount of about USD736.9 thousand. In this case, the recipient of target savings has the right to use the entire amount or part of it, the remainder of the unused amount remains in the target savings account (TSA).
The most popular sub-goals for using funds for home improvement were: replenishment of a contribution to housing construction savings for further accumulation (9,189 applications were completed for a total of approximately USD921.2 thousand), acquisition of housing in ownership through civil law transactions (final settlement) - 115 applications for a total of over USD11.5 thousand, making a down payment to obtain a mortgage housing loan for the acquisition of housing - 99 applications for a total of USD9.9 thousand.
The most popular sub-goals in the context of paying for education were: payment for educational services of educational organizations located in the territory of the Republic of Kazakhstan, in installments (for each academic period or academic year) or in full at one time (for the entire period of study) (5,884 applications were completed for an amount of more than USD 590.1 thousand), replenishment of an educational savings deposit under an agreement on an educational savings deposit (1,078 applications were completed for an amount of about USD108.2 thousand), payment for educational services of foreign educational organizations in installments (for each academic period or academic year) or in full at one time (for the entire period of study) (301 applications were completed for an amount of more than USD30.1 thousand).
Detailed information on payments of target savings for the purpose of improving housing conditions and (or) paying for education, broken down by authorized operators and regions, can be found on the website enpf.kz.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF 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. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz).
UAPF has implemented new digital services that can be obtained through a personal account on the enpf.kz website or in the БЖЗҚ/ЕНПФ mobile application.
For example:
- family members of a deceased person who has pension savings can now apply for the иутуаше payment of the deceased person's pension savings (for burial);
- UAPF contributors can provide consent to the collection and processing of personal data, as well as generate certificates of account availability, COPC certificates, certificates confirming the return of 50% of pension savings in one section. Let's present the innovations in order.
Application for payment of pension savings in connection with the death of a person with pension savings (for burial).
Pension savings are the property of the contributor or beneficiary. Accordingly, they can be inherited. But even before entering into inheritance rights, family members of the contributor/beneficiary are made a lump sum pension benefit payment for funeral expenses from the pension savings of the deceased person within the amount of 94 times the monthly calculation index established for the corresponding financial year by the law on the republican budget, but not more than those available for the individual pension savings account (IPSA) of the deceased person's funds.
In connection with the introduction of the new service, the procedure for filing an application for receiving the due amount for burial in difficult circumstances for the family is now also possible online. To do this, close relatives of the deceased must select the tab "Submitting an application for payment in connection with the death of the beneficiary (for burial)" in their personal account on the website or in the mobile application in the "Services" section. Next, in the window that opens, you must enter the IIN of the deceased person, where a check will be made for the presence of information about the death in the information system of the state body (IS GO) and the procedure for confirming family ties. If the IS GO does not contain information about the death of an individual, a corresponding notification will be issued. If the fact of death is confirmed, a check for family ties will be carried out. In case of confirmation, the next stage will be transferred - entering the beneficiary's bank details. After filling in, it is necessary to check the accuracy of the specified bank details by clicking on the "check" button and sign with an electronic digital signature (EDS).
When using the mobile application, the application must be signed using an electronic digital signature via the eGOV mobile application.
If the Civil Defense Information System does not contain information about the family ties of the person applying for a funeral payment with the deceased person, the applicant must contact any UAPF office with supporting documents.
The list of documents for processing a funeral payment is posted on the enpf.kz website in the relevant section “Services”/Beneficiaries.
Providing UAPF with consent to the collection and processing of personal data.
When providing services stipulated by law, UAPF exchanges information with information systems (databases) of organizations, which include government agencies and (or) state legal entities. At the same time, contributor data is NOT transferred to private or other legal entities. Before receiving a service from UAPF, the contributor (beneficiary) / authorized person / legal representative, in accordance with the Law of the Republic of Kazakhstan On Personal Data and Their Protection, confirms consent to the collection and processing of their personal data. In order to improve the quality and efficiency of the services provided, as well as the security and confidentiality of information, UAPF has introduced a new service for contributors - providing consent to the collection and processing of their personal data in a special section of the personal account on the website or in the mobile application.
To do this, in your personal account on the enpf.kz website or in the БЖЗҚ/ЕНПФ mobile application, in the Services section, you must select the "Submission of consent to the collection and processing of personal data" tab. If the applicant has previously submitted and signed such consent, a corresponding notification will be sent. Otherwise (if the contributor has not previously signed consent to the collection and processing of personal data), a notification window of the Law of the Republic of Kazakhstan On Personal Data and Their Protection will open. Then, by clicking the "I have read" button, you will be taken to the consent window, where you will need to fill in the "mobile number" column and enter the SMS code that will be sent to the specified number. Another service that has become available to UAPF contributors both on the website and in the mobile application is obtaining certificates in one section. In one window, you can now get information about the availability of all active pension accounts, certificates on the number of months for which compulsory occupational pension contributions have been paid. In addition, CPC contributors who were previously military personnel and who had 50% of the CPC returned can receive a certificate confirming the return.
To use this service, you must also log in to your personal account on the UAPF website or mobile application and select the appropriate window in the "Services" section.
Thus, the range of UAPF services is expanding, which can be used promptly online, without leaving your home or office, 24/7.
According to the provisions of the Social Code, the employer is exempt from paying ECPC to the UAPF for:
- persons born before January 1, 1975;
- persons who have reached retirement age in accordance with the Social Code;
- persons with disabilities of the first and second groups, if the disability is established indefinitely;
- military personnel (except for conscripts), employees of special state and law enforcement agencies, the state courier service, as well as persons whose rights to have special ranks, class ranks and wear uniforms were abolished from January 1, 2012;
- recipients of pension payments for length of service;
- judges of the Constitutional Court of the Republic of Kazakhstan, whose powers have been terminated due to the expiration of the term of office established by the Constitution of the Republic of Kazakhstan, receiving a monthly lifetime allowance, retired judges receiving a monthly cash allowance.
Additionally, we inform you that the Social Code clearly defines the obligation of employers to pay compulsory pension contributions exclusively from their own funds. Contributors can see the receipt of this type of contribution in the statement from the individual pension account, which provides information on all types of contributions.
Control over the timeliness and completeness of payment of the employer’s compulsory pension contributions is assigned to the State Revenue Committee. In the event of a violation of the above rules by the employer, the employee must contact the State Revenue Committee.
Yes. Each year, different amounts will be accrued under the National Fund for Children Program. They are determined based on the average amount of investment income on the assets of the National Fund of the Republic of Kazakhstan for the previous 18 years and the number of children participating in the Program. In addition, the amounts accrued to children in previous years will continue to be invested in US dollars as part of the National Fund assets. As a result, investment income will be additionally accrued on them.
The step-by-step algorithm of actions can be presented as follows:
- A child who has reached the age of 18 (the recipient of the TS) or his legal representative (in case of limited legal capacity of the recipient of the TS) independently receives from the UAPF, including through the UAPF Internet resource, information on the amount of the TS that can be used for permitted purposes.
- The recipient of the TS (or his legal representative) contacts the Authorized Operator (AO), with whom he opens a bank account in US dollars in the name of the recipient of the TS, and submits an online application for the payment of the TS through the Internet resource or in the mobile application of the AO with the attachment of documents, the list of which is determined by the AO taking into account the requirements of the legislation of the Republic of Kazakhstan.
- To submit an application, you need to log in to the Internet resource or in the mobile application of the AO and open your personal account, in which you need to fill out an online application for the payment of the TS indicating the bank account number in dollars, the amount of the TS payment and the purpose of use, with certification by an electronic digital signature or dynamic identification.
- The UA, within 2 business days after reviewing and approving the application for payment and the documents submitted by the TS recipient or their legal representative, sends an electronic notification of the registered application for payment to the UAPF.
- The UAPF, within 5 business days from the date of receipt of the electronic notification from the UA, transfers the TS payment amount specified in the application to them for subsequent crediting to the TS recipient's bank account in US dollars opened by the UA, or notifies of the refusal indicating the reason.
- The TS recipient or their legal representative, within 45 business days from the date of receipt of the TS amount to the bank account, provides the UA with documents confirming the intended use of the TS payments.
- The UA, within 10 business days from the date of submission of the documents by the TS recipient, verifies them and transfers the TS payments for their intended purpose.
- If the TS recipient or their legal representative fails to provide the documents within 45 business days, the TS payment amount held by the UA is returned to the UAPF.
If the recipient has not applied for their target savings within 10 years from the date of reaching adulthood, these funds are transferred to a voluntary pension account that will be opened in the UAPF in their name automatically.
Those who have left Kazakhstan for permanent residence in another country lose the right to use the National Fund's funds.
In the event of the death of the recipient of target savings, these funds are inherited within the framework of the law.
In the event of death or entry into force of a court decision declaring a participant in the National Fund for Children program deceased, target savings are inherited in the manner prescribed by the laws of the Republic of Kazakhstan. Persons (heirs) who have received savings have the right to use them at their own discretion for any purpose. You can familiarize yourself with the terms of the program, get instructions, and answers to your questions on the website kids.enpf.kz and on the БЖЗҚЕНПФ YouTube channel of. We also note that a video instruction on the implementation of the National Fund for Children program, the algorithm of actions before and after the child reaches the age of majority is posted on the БЖЗҚЕНПФ YouTube channel at the link:
The Unified Accumulative Pension Fund provided over 26.3 million services in the period from January 01, 2024 to June 30, 2024. Of the total number, more than 11.4 million services were provided in electronic format, 14.0 million in automatic format, and about 0.33 million in remote format. More than 578 thousand services were provided in person, of which directly in the offices of the Fund about 554 thousand.
As you know, UAPF is constantly expanding the list of services provided in digital format. Accordingly, the number of services that investors receive without visiting the Fund’s offices is growing. Including opening accounts (IPSA/NPSA/TSA) and cards for participants of target requirements. Let us remind you that all pension accounts are opened in the UAPF automatically upon receipt of the first contribution. Also, target requirements and target savings are automatically accrued to participants in the National Fund for Children program. Most of the services provided by the Fund are available through the integration of the UAPF with databases of government agencies. During the reporting period, the total number of open individual pension savings accounts (IPSA) for all types of pension contributions, including notional pension savings accounts (NPSA, opened as a result of transfer of ECPC by the employer) and target savings accounts (TSA, within the framework of the National Fund for Children program) exceeded 4 .4 million.
Thanks to the digitalization of services, it is quite easy for UAPF contributors to use the service of receiving statements from an individual pension savings account, a notional pension savings account (NPSA), as well as a target savings account (TSA). Since the beginning of the year, more than 12.9 million statements have been issued from the IPSA, NPSA, and TSA, of which 10.3 million in electronic form and about 2.2 million in automatic mode.
The UAPF reminds that in the personal account on the website and in the mobile application, contributors (beneficiaries) have the opportunity to use services such as making changes and additions to their details, eliminating accounts payable, obtaining a certificate of account availability, filing an application for the assignment of pension benefits in connection with the establishment of group 1 or 2 disability indefinitely or through voluntary pension contributions, tracking the status of an application for benefit, transferring part of the savings to an investment portfolio manager (IPM), predictive calculation of a future pension using a pension calculator, etc. 24/7 anywhere in the world.
For the reporting period of 2024, more than 110 thousand applications in all formats were accepted to change details, of which more than 99.5 thousand were received at the Fund’s offices. When turning to UAPF specialists for a particular service, contributors, as a rule, receive additional consultations and advice on creating savings.
As part of the outreach work, about 20.8 thousand road presentations were held, which were attended by 440.9 thousand people. All of them could ask questions about the funded pension system and receive qualified advice from specialists. The media published 20.3 thousand materials based on messages from the UAPF.
The number of contributor requests received through feedback channels amounted to about 330.7 thousand.
Let us remind you that any company can apply for a presentation and consultation on the funded pension system with a visit to the office, for which you just need to call the call center at 1418 or contact through the Fund’s website or mobile application.
Consulting services of the UAPF can be obtained through messengers (chat bot on WhatsАpp and Viber at +7 777 000 14 18), call center at 1418 (calls within Kazakhstan are free), on the corporate website enpf.kz, as well as on official pages UAPF on social networks Instagram, Facebook, VKontakte, X (Twitter), Telegram, Odnoklassniki.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF 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. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz).
By default, the trustee of pension assets is the National Bank of the Republic of Kazakhstan. Since January 2021, UAPF contributors have the opportunity to choose a strategy for managing pension assets.
Initially, investment portfolio managers (IPMs) could only transfer savings exceeding the minimum sufficiency threshold or remaining in a pension account after concluding a pension annuity agreement with an insurance company. From July 1, 2023, investment opportunities have expanded: now UAPF contributors will be able to transfer 50% of their savings through compulsory pension contributions and compulsory occupational pension contributions, as well as 100% of voluntary contributions to trust management of private companies. A list of investment portfolio managers can be found on the website enpf.kz. Investment strategies of the IPMs, monthly reviews and results of investment activities are also posted there. Before deciding to transfer to trust management, we recommend that you carefully read this information.
To transfer money to the trust management of the IPM (as well as back to the management of the NBRK or between private management companies), you need to submit an application for the transfer of pension savings in a certain form. This can be done in your personal account on the website enpf.kz, using an electronic digital signature, or in any UAPF branch (you need to have an identity document or an electronic document from the digital document service with you).
At the same time, the UAPF will continue to keep track of pension savings, including investment income. Contributors can see in their personal account in the pension account statement information about how much the IPM has earned for them. It is recommended to evaluate the results of investment activities in the medium and long term. Therefore, it is possible to transfer savings from one IPM to another or back under the management of the NBRK no more than once a year.
After the initial transfer of pension assets to trust management by IPM, the contributor has the right, no more than once a year, to submit an application to the UAPF for the transfer of his pension savings to trust management from one IPM to another. If you decide to return the savings to the management of the NBRK, this can also be done one year after the transfer of pension savings from the NBRK to IPM.
In order to transfer pension assets to the trust management of the IPM, from one IPM to another IPM, as well as to return pension savings from the trust management of the IPM to the trust management of the National Bank of the Republic of Kazakhstan, the contributor submits an application to the UAPF via the UAPF Internet resource, signed with an electronic digital signature or by personal appeal.
We note that 10 working days before the contributor reaches retirement age, all pension savings at the expense of the contributor’s CPC and (or) COPC are automatically returned to the investment management of the National Bank.
According to the Social Code of the Republic of Kazakhstan, from paying compulsory pension contributions (CPC) to the Unified Accumulative Pension Fund (UAPF) are exempt for persons with disabilities of the first and second groups, if the disability is established for an indefinite period. At the same time, the employer is allowed to withhold and transfer CPC to the UAPF based on the application of the above persons. Thus, Kazakhstanis who have a disability of the first or second groups, established indefinitely, have the right to submit an application at their place of work for consent to withhold CPC in the UAPF.
Persons with disabilities of the first and second groups, if the disability is established indefinitely, have the right to receive pension benefit payments from the UAPF according to the established schedule in the form of monthly pension benefits. The UAPF, with the consent of the contributor (beneficiary), provided in accordance with the Law of the Republic of Kazakhstan On Personal Data and Their Protection, independently requests information on the establishment of disability from the information system of the Ministry of Labor and Social Protection of the Population of the Republic of Kazakhstan Centralized Data Bank of Persons with Disabilities.
You can submit an application for payment of pension savings in person to the UAPF office or through an authorized person, through the Internet resource enpf.kz, as well as using postal services. In addition, the UAPF has mobile groups that provide pension services primarily to people with special needs. You can apply for field service on the website enpf.kz in the “Electronic Services” section
The size of the lump sum pension benefit depends on the amount of pension savings and is calculated individually. According to Art. 224 (clause 4) of the Social Code of the Republic of Kazakhstan, the opportunity to use pension savings formed through compulsory pension contributions can be used by contributors whose savings exceed the minimum adequacy threshold (they can use savings exceeding the minimum adequacy threshold in accordance with age), pensioners, whose pension amount is at least 40% of lost income (can use up to 50% of their savings), recipients of pension benefits for long service, as well as contributors who have entered into a pension annuity agreement (can use up to 100% of their savings).
Citizens of Kazakhstan, foreigners and stateless persons permanently residing in the country, employed in production with hazardous working conditions and wishing to receive a special social benefit are assigned when:
- reaching 55 years of age;
- confirmation of payment of compulsory occupational pension contributions for the employee for 84 months (7 years);
- termination of work in jobs with hazardous working conditions or transfer to another job that excludes exposure to hazardous production factors.
To receive a special social benefit, an employee must choose one of the following activity options:
- in agreement with the employer, arrange a transfer to another job in the same enterprise, unrelated to hazardous working conditions;
- independently get another job outside the enterprise, unrelated to hazardous working conditions;
- do not continue working.
As of July 1, 2024, within the framework of the National Fund for Children program, UAPF JSC executed (transferred to authorized operators for crediting to the bank accounts of applicants) 12,921 applications for a total amount of about 1.3 million US dollars, of which for the purpose of improvement housing conditions, 6,842 applications were executed in the amount of about 686 thousand US dollars, for payment of education - 6,079 applications in the amount of about 610 thousand US dollars. In this case, the recipient of target savings has the right to use both the entire amount due to him and part of it; the remainder of the unused amount remains in the target savings account (TSA).
Let us recall that according to the program, 50% of the investment income of the National Fund of the Republic of Kazakhstan is distributed once a year among children-citizens of the Republic of Kazakhstan who were born in 2006 and later. In February 2024, based on the results of 2023, the first target requirements were accrued to all children in the UAPF, and citizens who reached 18 years of age in 2024 were accrued targeted savings for the central nervous system and payments began to be made.
TSA funds are intended to be used to improve housing conditions and pay for education through authorized operators who have entered into appropriate agreements with the UAPF, and are stored in US dollars. After reaching the age of majority, recipients of target savings can use them for the specified purposes.
The authorized operators for the use of target savings for housing are Otbasy Bank Housing Construction Savings Bank JSC, for education - Otbasy Bank Housing Construction Savings Bank JSC and JSC Halyk Bank of Kazakhstan.
Housing
Residents of the city of Shymkent used funds most actively to improve their living conditions (1,034 applications were executed in the amount of more than 103.8 thousand US dollars), in second place were residents of the Kyzylorda region (832 applications were executed in the amount of more than 83.6 thousand US dollars), in third place are residents of the East Kazakhstan region (466 applications were completed in the amount of more than 46.8 thousand US dollars.
The most popular sub-goals for using funds to improve housing were: replenishing the deposit in housing construction savings for further accumulation (6,582 applications were completed in the amount of about 660 thousand US dollars), purchasing a home as a property under civil law transactions (final settlement) - 83 applications for amount of about 8.3 thousand US dollars, making a down payment to obtain a mortgage loan for the purchase of a home - 73 applications in the amount of more than 7.3 thousand US dollars.
Education
In order to pay for education, the largest number of applications were executed from residents of the city of Shymkent (958 applications in the amount of about 96.2 thousand US dollars), in second place - from residents of the Zhetisu region (621 applications were executed in the amount of about 62.2 thousand US dollars USA), in third place - from residents of Zhambyl region (603 applications were executed for an amount of about 60.4 thousand US dollars).
At the same time, the most popular subgoals in this area were: payment for educational services of educational organizations located on the territory of the Republic of Kazakhstan, in shares (for each academic period or academic year) or in full at a time (for the entire period of study) (4,986 applications for the amount of more than 500.1 thousand US dollars), replenishment of the educational savings deposit under the agreement on educational savings deposit (805 applications were completed in the amount of about 80.8 thousand US dollars), payment for educational services of foreign educational organizations in shares (for each academic period or training year) or in full at a time (for the entire period of study) (208 applications were completed for an amount of more than 20.8 thousand US dollars).
The amount will increase annually due to the growth of the National Fund and the receipt of investment income. In addition, accrued funds will continue to be invested as part of the National Fund’s assets and bring additional investment income to children participating in the program until they reach the age of 18.
Let us remind you that the total number of program participants as of January 01, 2024 is 6,919,131 children (children born from January 01, 2006 to December 31, 2023 inclusive). Of these, 304,815 participants will turn 18 years old in 2024 (children born from January 01,2006 to December 31, 2006 inclusive). All of them were awarded the same amount of target claims in the amount of 100 US dollars 52 cents.
Parents or other legal representatives of a minor can check information about including a child in the list of participants in target requirements on the website kids.enpf.kz using the child’s IIN, where you can familiarize yourself with the terms of the program, receive instructions, and answers to questions of interest. Detailed instructions on how to do this are posted on the БЖЗҚЕНПФ YouTube channel.
Parents can also check data on accruals for each child in their personal account on the egov.kz portal.
Kazakhstanis who turn 18 in 2024 can independently check the receipt of funds for the TSA through their personal account on the UAPF Internet resource and (or) the “electronic government” web portal.
Statistical reports on accruals by age and regions of the republic are posted on the website enpf.kz.
Detailed information on payments of targeted savings in order to improve housing conditions and (or) pay for education in the context of authorized operators and regions can be found on the website enpf.kz.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF 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. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz).
UAPF JSC (hereinafter - UAPF) presents a report on the management of pension assets by the National Bank of the Republic of Kazakhstan (hereinafter - NBRK) and investment portfolio managers (hereinafter - IPM) on the website enpf.kz in the section "Indicators - Investment activities".
The total volume of pension assets as of June 1, 2024 amounted to KZT19,250.04 bln. As of June 1, 2024, the pension assets[1] of the UAPF, which are in trust management of the NBRK, formed through compulsory pension contributions (hereinafter referred to as CPC), compulsory occupational pension contributions (hereinafter referred to as COPC), voluntary pension contributions (hereinafter referred to as VPC), amounted to KZT19,123.58 bln[2]. The volume of pension assets of the NBRK, formed at the expense of employer compulsory pension contributions (hereinafter referred to as ECPC), which are in trust management of the NBRK, is KZT76.96 bln.
Pension assets managed by the IPM amounted to more than KZT49.5 bln.
Investment portfolio of pension assets managed by the NBRK
The main directions for investing pension assets of the NBRK, formed at the expense of CPC, COPC, VPC, as of June 1, 2024 are as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan - 45.64%, bonds of quasi-public companies - 10.09%, bonds of second-tier banks of the Republic of Kazakhstan - 4.21%, government securities of foreign states - 3.87%, shares and depositary receipts of issuers of the Republic of Kazakhstan - 2.09%.
The investment portfolio by currencies in which financial instruments purchased through CPC, COPC, VPC are denominated, as of June 1, 2024, looks like this: investments in national currency - 65.20%, in US dollars - 34.80% portfolio of pension assets.
From the analysis of the structure of income received, it follows that income in the form of remuneration on securities, including on placed deposits and reverse repo operations and from market revaluation of securities, amounted to KZT647.77 bln, for assets under external management - KZT102.65 bln. Market revaluation of securities was negative and amounted to KZT57.23 bln, revaluation of foreign currency was also negative (KZT46.81 bln). Other losses amounted to KZT0.68 bln.
Due to the diversification of the investment portfolio of pension assets by instruments, industries and currencies, the total income for January-May 2024 is positive.
As a result of investment activities, as well as due to the volatility of foreign exchange rates and changes in the market value of financial instruments, the amount of accrued investment income as of June 1, 2024 from the beginning of the year amounted to KZT647.07 bln. The return on UAPF pension assets distributed to the accounts of depositors (beneficiaries) is 3.49%.
ECPC investment directions as of June 1, 2024 are as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan - 98.01%, NBRK deposits - 1.43%, cash in investment accounts - 0.55%. The investment portfolio at the expense of the ECPC includes only financial instruments denominated in national currency.
The ECPC yield as of June 1, 2024 from the beginning of the year was 1.14%.
Let us recall that in the medium and long term, a positive real (exceeding accumulated inflation) return on pension savings is ensured.
The detailed structure of the investment portfolio of financial instruments managed by the National Bank of Kazakhstan, indicating the issuers and an overview of investment activities are posted on the official website of the UAPF. Also on the website enpf.kz there is information about the structure of the portfolio of pension assets formed at the expense of the ECPC.
Investment portfolio managers
Общий объем пенсионных активов, находящихся под управлением УИП, составляет более 49,5 млрд тенге.
По состоянию на 01.06.2024 г. пенсионные активы, находящиеся в доверительном управлении АО «Jusan Invest», составили более 8,5 млрд тенге.
The total volume of pension assets managed by the IPM is more than KZT49.5 bln.
As of June 01, 2024, pension assets under trust management of Jusan Invest JSC amounted to more than KZT8.5 bln.
The company's main investments: government securities of the Ministry of Finance of the Republic of Kazakhstan - 30.75%, shares of Exchange Traded Funds (ETF) - 28.06%, REPO - 16.15%, bonds of second-tier banks of the Republic of Kazakhstan - 7.45%, government securities of foreign countries - 6, 67% of the portfolio. Note that 63.01% of the portfolio is presented in tenge, 36.99% in US dollars.
As a result of investment activities, the amount of accrued investment income as of June 1, 2024 from the beginning of the year amounted to KZT288 mln. The return on pension assets is 3.69%.
The detailed structure of the investment portfolio of financial instruments managed by Jusan Invest JSC, indicating the issuers, is presented on the UAPF website.
As of June 1, 2024, pension assets under trust management of Halyk Global Markets JSC amounted to more than KZT3.9 bln.
The main investments in the portfolio structure are as follows: “reverse repo” (no more than 90 calendar days) - 34.56%, corporate bonds of foreign issuers - 16.98%, bonds of quasi-public organizations of the Republic of Kazakhstan - 10.87%, corporate bonds of organizations of the Republic of Kazakhstan - 8 .20%, MFO bonds – 6.72%, equity instruments of foreign issuers (ETF Units) – 6.32%, bonds of second-tier banks of the Republic of Kazakhstan – 5.44%. Investments in national currency amounted to 69.35% of the portfolio, in US dollars - 30.65%.
As a result of investment activities, the amount of accrued investment income as of June 1, 2024 from the beginning of the year amounted to KZT122.89 mln. The return on pension assets is 3.14%.
The detailed structure of the investment portfolio of financial instruments managed by Halyk Global Markets JSC, indicating the issuers, is presented on the UAPF website.
As of June 1, 2024, the pension assets of the UAPF, which are in the trust management of BCC Invest JSC, amounted to more than KZT4.5 bln.
Main areas of investment: bonds of quasi-public organizations of the Republic of Kazakhstan - 34.66%, REPO - 17.04%, corporate bonds of resident issuers of the Republic of Kazakhstan - 9.56%, bonds of second-tier banks of the Republic of Kazakhstan - 8.66%, corporate bonds of foreign issuers - 6, 87%, shares (ETF on indices) – 6.74%, government bonds of the Republic of Kazakhstan – 5.92%. 83.13% of the portfolio was invested in instruments in national currency, and 16.87% in US dollars.
As a result of investment activities, the amount of accrued investment income as of June 1, 2024 from the beginning of the year amounted to KZT152.98 mln. The return on pension assets is 3.49%.
The detailed structure of the investment portfolio of financial instruments managed by BCC Invest JSC, indicating the issuers, is presented on the UAPF website.
As of June 01, 2024, the pension assets of the UAPF, which are in the trust management of Centras Securities JSC, amounted to about KZT1.3 bln.
26.70% of assets were invested in government securities of the Ministry of Finance of the Republic of Kazakhstan, repo - 19.86%, in bonds of quasi-public organizations - 14.38%, shares and depositary receipts of issuers of the Republic of Kazakhstan - 10.33%, corporate bonds of issuers of the Republic of Kazakhstan - 7.94%, other assets (accounts receivable, overdue debt, provisions) – 6.93%, bonds of second-tier banks of the Republic of Kazakhstan – 6.74%. 73.32% of the portfolio was invested in instruments in national currency, in US dollars - 25.01%, in Canadian dollars - 1.67%.
As a result of investment activities and changes in the market value of financial instruments, the amount of accrued investment income as of June 1, 2024 from the beginning of the year amounted to KZT73.34 mln. The return on pension assets is 6.14%.
The detailed structure of the investment portfolio of financial instruments managed by Centras Securities JSC, indicating the issuers, is presented on the UAPF website.
As of June 1, 2024, pension assets held in trust by Halyk Finance Subsidiary of the Halyk Bank of Kazakhstan JSC amounted to about KZT31.3 bln.
The main investments in the portfolio structure look like this: “reverse repo” (no more than 90 calendar days) - 37.60%, corporate bonds of foreign issuers - 9.71%, Exchange Traded Funds (ETF) units - 9.21%, quasi-public bonds organizations of the Republic of Kazakhstan - 9.18%, government securities of foreign states - 8.04%, corporate bonds of issuers of the Republic of Kazakhstan - 7.88%. 69.08% of the portfolio was invested in instruments in national currency, in US dollars - 30.75%, in euros - 0.17%
As a result of investment activities, the amount of accrued investment income as of June 1, 2024 from the beginning of the year amounted to KZT879.86 mln. The return on pension assets is 3.30%.
The detailed structure of the investment portfolio of financial instruments managed by Halyk Finance Subsidiary of the Halyk Bank of Kazakhstan JSC with the indication of issuers is presented on the UAPF website.
Let us remind you that from July 1, 2023, contributors can transfer no more than 50% of pension savings into trust management at the expense of compulsory pension contributions (CPC) and compulsory occupational pension contributions (COPC), without taking into account the minimum adequacy threshold for investment portfolio managers (IPM), by choosing such a company yourself. Contributors who have voluntary pension savings can transfer them to the IPM in the amount of 100%.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF 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. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz).
[1] formed from compulsory pension contributions, compulsory occupational pension contributions and voluntary pension contributions
[2] excluding money in accounts of pension contributions and benefits
As of June 1, 2024, pension assets of Kazakhstanis in pension accounts in the UAPF exceeded KZT19.2 trln, having increased over 5 months by almost KZT1.4 trln (or 7.7%). The annual growth of pension savings amounted to more than KZT3.4 trln (or 21.5%).
In the total pension piggy bank, savings formed through compulsory pension contributions (CPC) exceed 96%. Their volume as of June 1, 2024 amounted to about KZT18.6 trln, having increased by 21% over the year. The amount of pension savings through compulsory occupational pension contributions (COPC) exceeded KZT601.7 bln (an increase over the year - 21.5%). About KZT6.2 bln has been accumulated in accounts for voluntary pension contributions (VPC), which increased by 45.6% compared to June 1, 2023.
From January 1, 2024, additional funds will be transferred to the pension accounts of contributors (beneficiaries) - employer compulsory pension contributions (ECPC). For 5 months of 2024, the amount of pension savings at the expense of ECPC amounted to more than KZT77.5 bln.
Incoming flows
The volume of pension savings increases due to incoming flows in the form of pension contributions and investment income. Pension contributions to contributors' accounts for January-May 2024 exceeded KZT1 trln (an increase of 29.2% or more than KZT244 bln compared to last year).
Positive dynamics were demonstrated by all types of contributions: more than KZT 954.7 bln were received into individual pension saving accounts (IPSA) according to CPC since the beginning of the year as of June 01, 2024 (this is 19.8% more than in the same period last year), for COPC IPSA accounting - about KZT47.3 bln (an increase of 20.6%), VPC - 1.2 bln (an increase of 34.1%).
Net investment income accrued to individual and notional pension accounts of UAPF contributors since the beginning of the year as of June 01, 2024 amounted to about KZT631.4 bln. This amount is almost KZT138 bln (or 28%) more than last year for the same period.
Benefit payments and transfers
Исходящие потоки в виде выплат по всем видам взносов и переводов в страховые организации из ЕНПФ за 5 месяцев 2024 года превысили 367,3 млрд тенге, что выше объема выплат прошлогоднего аналогичного периода на 195,4 млрд тенге (или на 113,6%).
Outgoing flows in the form of benefit payments for all types of contributions and transfers to insurance organizations from the UAPF for 5 months of 2024 exceeded KZT367.3 bln, which is higher than the volume of payments in the same period last year by KZT195.4 bln (or 113.6%).
KZT151.5 bln are lump sum pension benefit payments (LSPBP) for improving housing conditions and medical treatment.
Pension benefit payments in connection with reaching retirement age amounted to about KZT81.6 bln, which is 36% higher than last year.
Also during the period, payments were made for inheritance - KZT23.7 bln, payments in connection with leaving for permanent residence outside the Republic of Kazakhstan - more than KZT14.3 bln, payments to persons with disabilities - more than KZT1.3 bln, burial payments - about KZT4.2 bln. An amount of more than KZT90.7 bln was transferred to insurance organizations.
The average monthly pension benefit payment from the UAPF in connection with reaching retirement age was 33,921 tenge, and the maximum monthly payment was 945,752 tenge.
IPSA number
The total number of pension accounts in the UAPF as of June 1, 2024 exceeded 16.1 million units. At the same time, the individual pension funds of contributors (beneficiaries) in the UAPF as of June 1, 2024 amounted to more than 12.3 million units, of which: 11 million - for CPC, 681.4 thousand - for COPC, 416.7 thousand - for VPC.
The number of notional pension accounts in the UAPF, which take into account information about received ECPC in accordance with the legislation of the Republic of Kazakhstan, amounted to about 3.8 million units.
All relevant information on statistical data on pension assets, including by region of the republic, is posted on the enpf.kz website in the “Indicators” section.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF 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. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz).
Now users can apply for the service of recognition of documents on higher/ secondary/ technical and post-secondary education via the e-Gov portal online. This allows users to confirm the authenticity of previously received educational documents.
When getting the service, the user can obtain a certificate recognizing the authenticity of a previously lost document, receive a duplicate of it, or confirm the authenticity of education received abroad. The service applies to documents certifying obtainment of education in Kazakhstan and abroad.
The service is available for two categories of documents: documents on secondary/technical and vocational, post-secondary education, as well as higher and postgraduate education.
The service can be obtained in 5 clicks:
- log in on the eGov.kz Portal;
- go to the "Education" section;
- from the list of services, select the required document category: "Recognition of documents on secondary, technical and vocational, post-secondary education" or "Recognition of documents on higher and postgraduate education";
- fill-in all the required fields and upload the files;
- sign the service using a digital signature or an SMS password (registration in the Mobile Citizens Database is required);
- familiarize yourself with a notification on the application processing status in a personal account, which will be sent within the specified time period.
Note that the service is also available offline in the offices of "Government for Citizens" Public Corporation.
Now the service for registration at an outpatient clinic is available not only for citizens of the Republic of Kazakhstan, but also for kandas and non-residents of the country. When registering with a medical organization, users can now select a doctor and view information about a medical organization.
The service of registration at a medical organization providing primary health care remains one of the most popular on the eGov.kz. In just 6 months in 2024, more than 1.2 million applications to register in an outpatient clinic have been submitted through the portal.
The service can be used not only when you change your place of residence, but also if you wish to change your medical organisation, but only once a year (between September 15 and November 15).
The service is implemented in three stages:
Familiarize yourself with a notification on the application processing status in a personal account, which will be sent within the specified time period.
The public service delivery result will be sent to your personal account within the specified time.
The new service capability was launched thanks to the joint work of the Public Services Committee of the Ministry of Digital Development, Innovations and Aerospace Industry, the Ministry of Health of the Republic of Kazakhstan and National Information Technologies JSC.
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Compulsory pension contributions (CPC): who is obliged to pay and how?
As of May 1, 2024, about 96.5% of pension assets are formed through the timely transfer of compulsory pension contributions (CPC). The opening of individual pension savings account (IPSA) for accounting of CPC in UAPF is carried out on the basis of the list of individuals submitted by agents who pay the CPC to UAPF during the transferring of CPC or penalties in the manner determined by the Government of the Republic of Kazakhstan. Thus, the employee does not need to independently apply to the UAPF to open an IPSA. The Social Code stipulates that the procedure and terms for calculating, withholding (accruing) and transferring CPC, compulsory occupational pension contributions (COPC) to the UAPF and collections on them are elaborated by the authorized government body and approved by the Government of the Republic of Kazakhstan[1].
Transferring the CPC by the agent In accordance with the norms of the Social Code an agent who transfers the CPC (agent) is an individual or legal entity, including a foreign legal entity, operating in the Republic of Kazakhstan through a permanent establishment, branches, representative offices of foreign legal entities, calculating, withholding (accruing) and transferring CPC to the UAPF in the manner determined by the legislation of the Republic of Kazakhstan. Wherein, agents are assigned the obligation to timely calculate, withhold (accrue) and pay CPC to the UAPF from the incomes: 1) of employees, persons with other paid work (elected, appointed or approved), including those working in representative offices of international organizations in the Republic of Kazakhstan, diplomatic missions and consular offices of foreign states accredited in the Republic of Kazakhstan; 2) of persons receiving income under civil law contracts, the subject of which is provision of services, concluded with tax agents, including those working in representative offices of international organizations in the Republic of Kazakhstan, diplomatic missions and consular offices of foreign states accredited in the Republic of Kazakhstan. Agents transfer CPC by non-cash payments to the State Corporation "Government for Citizens", which transfers CPC to the UAPF in accordance with a unified list of individuals. Details for transfer can be found on the website enpf.kz in the “Services” section.
Paying CPC independently In accordance with the norms of the Social Code, payment of CPC to the UAPF is carried out independently: 1) by individual entrepreneurs, including heads of peasant or farm enterprises, their members who have reached the age of eighteen, as well as persons engaged in private practice, for their own benefit; 2) by individuals permanently residing in the territory of the Republic of Kazakhstan, receiving income under civil contracts, the subject of which is the provision of services, concluded with individuals who are not tax agents; 3) by individuals permanently residing in the territory of the Republic of Kazakhstan, working in representative offices of international organizations in the Republic of Kazakhstan, diplomatic missions and consular offices of foreign states accredited in the Republic of Kazakhstan. Payment of CPC in this case can be made in cash through second-tier banks. The detailed procedure, rates and terms for payment of CPC, depending on the type of contributor, are indicated on the enpf.kz website in the “Services” section.
Please note that according to the Social Code, CPC amounts not withheld (not accrued) and (or) not transferred by the agent in a timely manner, subject to the actual payment and receipt of income by the employee, are collected by state revenue authorities or are subject to transfer by the agent in favor of CPC contributors with an accrued penalty of 1,25 times of the base rate of the National Bank of the Republic of Kazakhstan for each day of delay (including the day of payment to the State Corporation).
The following are exempt from paying compulsory pension contributions to the UAPF: 1) persons who have reached retirement age in accordance with paragraph 1 of Article 207 of the Social Code; 2) persons with disabilities of the first and second groups, if the disability is established for an indefinite period. Payment of CPC to the UAPF is carried out at the request of the indicated persons; 3) military personnel (except for conscripts), employees of special state and law enforcement agencies, the state courier service, as well as persons whose rights to have special ranks, class ranks and wear uniforms have been abolished since January 1, 2012; 4) recipients of pension payments for long service.
You can get answers to all your questions and check information both in UAPF branches and remotely: on the website enpf.kz, the БЖЗҚ/ЕНПФ mobile application, through multi-channel free communication by reaching the call center 1418, as well as via WhatsApp at +7 777 000 1418, on the official pages of the UAPF on social networks on such popular platforms as “Odnoklassniki”, “Telegram”, “Facebook”, “Vkontakte”, “Twitter” and “Instagram”.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF 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. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz). |
[1] Rules and terms for calculation, withholding (accrual) and transfer of compulsory pension contributions, compulsory occupational pension contributions to the unified accumulative pension fund and penalties for them, approved by Decree of the Government of the Republic of Kazakhstan dated June 30, 2023 No. 525