As of May 1, 2022, since January 2021, the UAPF has executed 1,321,017 applications from contributors (beneficiaries) to use pension savings 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 benefits amounted to about 2.4 million tenge.
Most of the executed applications were sent by residents of Almaty (17.74%), Nur-Sultan (13.52%), Mangistau region (10.40%). 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 benefits and by regions (subsections “Lump-sum pension benefits for improving housing conditions by goals” and “Lump-sum pension payments for improving housing conditions", respectively).
It should be noted that in April 2022 (from 01.04.22 to 30.04.22) a total of 3,276 applications were executed for a total amount of 7.6 billion tenge.
To date, the authorized operators accepting applications for the use of a part of pension savings are Housing Construction Savings Bank Otbasy Bank JSC, Halyk Bank of Kazakhstan JSC, Altyn Bank JSC, Bank CenterCredit JSC and Freedom Finance Kazakhstan Bank JSC. We emphasize that after receipt of a lump sum pension benefit to a special account opened with an authorized operator (Housing Construction Savings Bank Otbasy Bank JSC), the beneficiary provides the authorized operator with documents confirming the intended purpose of lump sum pension benefits 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 benefits 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 beneficiary provides Otbasy Bank with documents confirming the intended purpose of lump-sum pension benefits in within 3 years from the date of their receipt. For other authorized operators (second-tier banks), applications for a lump sum pension benefit and documents of the beneficiary 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 benefits according to their target appointment within 10 working days from the date of crediting the amounts of lump-sum pension benefits to the special accounts of the applicant (beneficiary). In case of failure to provide the authorized operator with supporting documents within the prescribed period, these funds are subject to return to the UAPF.
The beneficiary 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 beneficiary.
It should be noted that about 442.0 billion tenge was returned to the individual pension saving accounts (IPSA) of contributors (beneficiaries) from authorized operators due to the fact that lump-sum pension benefits by Kazakhstanis were not used on time, at the request of the applicant and for other reasons
UAPF also executed 383,191 applications for medical treatment for a total amount of 295.9 billion tenge. At the same time, the average withdrawal amount is about 0.8 million tenge. At the same time, 28.1 billion tenge was returned to the IPSA of contributors (beneficiaries) in the 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.
In April 2022 (from 01.04.22 to 30.04.22) 2,195 applications were executed for a total amount of 2.5 billion tenge.
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 benefits for medical treatment".
As of May 1 of this year, 8.7 billion tenge was transferred to the investment portfolio manager (IPM), the UAPF executed 5,869 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 same time, in April 2022 (from 01.04.22 to 30.04.22) only 2 applications were submitted for the transfer of the IPM in the amount of 0.2 million tenge.
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". It should be noted that out of 8.7 billion tenge - 45.11% or 3.9 billion tenge were transferred to Jusan Invest JSC, 28.46% or 2.5 billion tenge to Halyk Global Markets JSC, 16.16% or 1.4 billion tenge in BCC Invest JSC, 10.27% or 0.9 billion tenge in Centras Securities JSC.
Recall that after receiving pension assets from the UAPF, the IPM invests them in the 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 return of pension assets, which is calculated based on the weighted average profitability of pension assets transferred to the management of the IPM operating on the market.