How is the minimum sufficiency threshold calculated when withdrawing part of pension savings?
At the initiative of the Head of State, in order to support Kazakhstanis, UAPF depositors were granted the right to early withdrawal of part of pension savings before the retirement age for strictly defined alternative purposes – improving housing conditions and paying for treatment. At the same time, the main purpose of pension savings remains: they must provide pension income in the future at least at the level of the minimum pension.
Based on this, the state bodies developed and then approved by the Government of the Republic of Kazakhstan a methodology for determining the threshold of minimum sufficiency of pension savings. (Government Resolution " On approval of the Rules for the implementation of pension payments, one-time pension payments for the purpose of improving housing conditions and (or) paying for treatment, formed at the expense of mandatory pension contributions, mandatory occupational pension contributions from the unified accumulative pension fund, their return to the unified accumulative pension fund, methods for calculating the amount of pension payments, methods for determining the replacement coefficient of the average monthly income of the recipient with pension payments, methods for determining the threshold of minimum sufficiency of pension savings").
According to the provisions of this Methodology, the thresholds of the minimum sufficiency of pension savings are calculated, which will allow to form by the time of reaching retirement age the pension capital necessary to ensure a pensioner's monthly income in the amount of at least one minimum pension. That is, the threshold of the minimum sufficiency of pension savings is such an amount of money that should be stored in the depositor's pension account for the main purpose - pension payments. While the part of pension savings that exceeds the threshold can be withdrawn for alternative purposes.
Taking into account the fact that depositors in the future (before the retirement age) they will still continue their work and, accordingly, make pension contributions to the UAPF, the minimum sufficiency thresholds are calculated for each specific age, based on the assumption of monthly (12 times a year) transfer of mandatory pension contributions to the UAPF from income in the amount of the minimum wage.
Thus, the calculation of the minimum sufficiency thresholds is based not on how much a person can earn by a certain age, but on the fact that the amount of pension savings by retirement age meets the minimum requirements specified above.
The size of the thresholds for the minimum sufficiency of pension savings for 2021 is as follows:
Age, years
Thresholds of minimum sufficiency of pension savings, tenge
20
1 710 000
21
1 780 000
22
1 860 000
23
1 930 000
24
2 010 000
25
2 090 000
26
2 170 000
27
2 250 000
28
2 330 000
29
2 420 000
30
2 500 000
31
2 590 000
32
2 670 000
33
2 760 000
34
2 850 000
35
2 940 000
36
3 030 000
37
3 130 000
38
3 220 000
39
3 320 000
40
3 420 000
41
3 520 000
42
3 620 000
43
3 720 000
44
3 820 000
45
3 930 000
46
4 030 000
47
4 140 000
48
4 250 000
49
4 360 000
50
4 470 000
51
4 590 000
52
4 700 000
53
4 820 000
54
4 940 000
55
5 060 000
56
5 180 000
57
5 300 000
58
5 430 000
59 - 62
5 560 000
.
2.. How do I check if I have enough funds to withdraw part of my pension savings?
The UAPF provides several ways to check your savings:
The first and most popular method is via Internet connection –at any time and from anywhere in the world, you can get the necessary information in your Personal Account on the enpf website.kz or in the mobile app. For access, the depositor needs an electronic digital signature (EDS can be obtained remotely on the portal egov.kz) or the IIN and password registered in the UAPF database.
The second method is to send the statement to the email address specified by the depositor. The depositor chooses the frequency of receiving information: monthly, quarterly, semi-annually or annually.
The third way is through your Personal Account on the e-government portal egov.kz. The login is carried out using an EDS or a one-time SMS password sent to the depositor's mobile phone number registered in the mGov mobile database.
You can also check your pension account by contacting any of the UAPF offices or by receiving an annual statement by traditional mail.
The depositor can always choose and change the method of informing on the site enpf.kz (using an EDS) or in the office of the UAPF.
For those who are more comfortable and accustomed to receiving all services via smartphones or tablets, there is a simple and functional ENPF application.
To register in this mobile application, you can use a one-time password, which will be sent to your mobile phone via SMS message.
Also, on the website and in the mobile application of the Fund, in the Personal Account, a function for obtaining an extract from an individual pension account with an indication of the sufficiency threshold for withdrawing part of pension savings has been added to the "Receiving an extract" option.
For the convenience and support of the population, a new service has been developed on the Fund's website to obtain information about the threshold of sufficiency of pension savings cabinet.enpf.kz/porog. You can use the service using an electronic digital signature (EDS) or SMS to a mobile phone number registered in the mGov mobile citizens database.
To log in using an EDS, click on the link cabinet.enpf.kz/porog, give consent to the collection and processing of personal data, choose a signature certificate and log in to the service using an EDS. To log in with a one-time password, you only need to take a few steps:
enter your IIN and mobile phone number;
give your consent to the collection and processing of personal data;
click the "Send code" button;
enter the received six-digit code from your mobile phone.
This additional service is convenient for depositors and will allow them to quickly find out the sufficiency threshold without EDS and visiting UAPF branches. The service fully complies with the requirements of authorized state bodies.
How to withdraw part of pension savings to citizens? Where to apply?
If, after checking your pension savings in the UAPF, you have decided to use part of your pension savings for housing and (or) treatment, then you need to contact an authorized operator.
By a government decree, the authorized operators for the targeted use of one-time pension payments from the unified accumulative pension fund are appointed:
in order to improve housing conditions – joint-stock company "Housing Construction Savings Bank "Otbasy Bank";
in order to improve housing conditions by making an initial payment for obtaining a mortgage housing loan for the purchase of housing and (or) housing with repairs under one bank loan agreement; partial or full repayment of mortgage loan for the purchase of the home and (or) home repairs in one of the contract of Bank loan, refinancing mortgage loan second tier banks (STB) (currently SPSF concluded agreements on cooperation with JSC "Housing construction savings Bank "family Bank", JSC "Halyk Bank of Kazakhstan" JSC "Altyn Bank", JSC "Bank CenterCredit");
in order to pay for treatment of joint stock company "Housing construction savings Bank "family Bank".
The agreement with the STB defines the procedure for information interaction and exchange of information between the authorized operator and the UAPF on accounting, transfer and refund of lump-sum pension payments, as well as the duties and responsibilities of each of the parties to the agreement, including the conditions and obligations to maintain the confidentiality of information.
The integration of the information systems of the UAPF and authorized operators is carried out through the integration service on the web portal of the "electronic government".
More detailed information about the rules for withdrawing and using part of pension savings for special needs is available on the UAPF website.
After reviewing the depositor's documents, the authorized operator will send a notification to the UAPF for the transfer of pension savings in the amount determined by the depositor himself and specified in his application.
After receiving a notification from the authorized operator, the UAPF will transfer pension savings (within 5 working days) to the authorized operator to a special depositor's account in order to improve housing conditions and (or) pay for treatment.
How do I pay the tax for the withdrawn money? Can I pay for them immediately or in parts?
The depositor has the right to choose the method of paying individual income tax (IPN) when paying pension savings (we recall that the IPN was not charged when transferring contributions).
Citizens can choose to defer the payment of personal income tax or pay it in full when paying savings for improving housing conditions and (or) paying for treatment. The deferral means that the IPN will be paid monthly in equal shares for no more than sixteen years according to the schedule established by the unified accumulative pension fund for pension payments upon reaching retirement age.
I would like to transfer part of my pension savings to the management of financial companies. Where should I contact?
Depositors can transfer their pension savings to trust management to management companies that have a license to manage an investment portfolio and meet additional requirements established by the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market, such as:
having sufficient experience in managing clients ' assets;