5 questions of SEPTEMBER

1) My funds above the sufficiency threshold, withdrawn to improve housing conditions, returned to the UAPF. Why could this happen?

The return of the one-time pension benefit occurs if the beneficiary has not provided the authorized operator - Otbasy Bank Housing Construction Savings Bank JSC - documents confirming its use, and the money remained unclaimed for 45 days from the date it was received on a special account. Refunds are made automatically. The rest of the money on the special account is also subject to refund if it was not used in full.

After the withdrawn pension savings of the applicant are returned to the UAPF, within two days from the date of their receipt, they are again credited to the individual pension saving account and displayed in the statement. If, when withdrawing pension savings, the beneficiary decided to immediately pay the individual income tax, then it will be returned back to the individual pension saving account along with the unused payment. If only part of the benefit is refundable, income tax of 10% of the refunded amount will be refunded to the individual pension saving account. That is, the contributor does not need to additionally submit any applications and documents.

Subsequently, the contributor has the right to submit an application to the authorized operator to withdraw funds in excess of the threshold for the sufficiency of pension savings an unlimited number of times.

2. Unfortunately, the pandemic has affected our family, we have lost our father. Can I inherit his pension savings?

The money accumulated in individual pension accounts is the property of the contributor (beneficiary) and is kept in the Fund indefinitely, even in the event of his death.

In accordance with Articles 31, 32, 33 of the Law of the Republic of Kazakhstan On Pension Provision in the Republic of Kazakhstan in the event of the death of a person who has pension savings at the expense of compulsory, compulsory occupational and voluntary pension contributions, they are inherited in the manner prescribed by the legislation of the Republic of Kazakhstan.

The inheritance of pension savings is carried out by will or by law. When a will is absent or does not determine the fate of the entire inheritance, as well as in other cases established by civil legislation, inheritance takes place by law.

According to the Civil Code of the Republic of Kazakhstan, in order to acquire an inheritance, the heir must accept it by submitting at the place of opening the inheritance to a notary or an official authorized in accordance with the law to issue a certificate of the right to inheritance of an application for acceptance of an inheritance or an application for issuance of a certificate of the right to inheritance. The inheritance must be accepted within six months from the date of opening the inheritance, i.e. within six months from the date of death of the testator.

Also, in accordance with the provisions of paragraph 5 of Article 50 of the above Law, in the event of the death of the recipient, as well as of a person who has pension savings and has not reached the generally established retirement age, his family or the person who carried out the burial, the UAPF is paid a one-time benefit payment for burial within the amount 52.4-fold monthly calculation index established for the corresponding financial year by the law on the republican budget, but not more than the funds available in the individual pension saving account.

In the event that the balance of pension savings in the recipient's individual pension account after making a lump sum payment for burial is an amount not exceeding the amount of the minimum pension established for the corresponding financial year by the law on the republican budget, this balance is paid as a payment for burial.

It should be noted that the current legislation does not provide for a limitation on the period of applying to the UAPF for a lump sum benefit payment for burial, and therefore, payment for burial upon presentation of the documents provided for by law can be made even after several years after the death of a person with pension savings in the UAPF.

3. At the moment I have a problem with employment, but I would like to have a pension record. How to do it?
   

Proof of seniority is participation in the accumulative pension system, that is, monthly compulsory pension contributions to an individual pension saving account. Citizens who are temporarily unemployed or have a fickle income can continue their participation in the APS by paying a single aggregate payment (SAP). The payment replaces 4 obligatory payments:

- individual income tax;

- compulsory pension contribution to the UAPF;

- compulsory social contributions to the State Social Insurance Fund (SSIF);

- social contribution to the Social Health Insurance Fund (SHIF).

Thus, SAP makes it possible to pay all payments on facilitated terms and participate in social security systems, compulsory social health insurance and get access to medical services, with the right to choose a medical institution. Also, a participant in the system can receive social benefits in cases of disability, loss of work, loss of a breadwinner, pregnancy and childbirth, adoption or adoption of a child, child care.

In addition to replenishing their pension savings in the UAPF, SAP payers in the future have the opportunity to receive a basic pension benefit, depending on the length of service in the pension system.

SAP is payable in total through second-tier banks or organizations that carry out certain types of banking operations (for example, through Kazpost JSC). Tax reporting is not provided by SAP payers. Registration (notification) of the commencement of activities and an application for suspension (termination) of activities are not required. An individual is recognized as a SAP payer from the day on which payment was made. In this case, SAP can be paid for the current and subsequent months of the calendar year. But it is imperative to indicate the month for which the payment is made. This is important for accounting for seniority.

The termination of payment means that the individual is no longer a SAP payer.

4. I work in "hazardous work", should the employer transfer 10% of my compulsory pension contributions plus another 5% of compulsory occupational pension contributions at their own expense? How can I control their listing?

 Compulsory occupational pension contributions (COPC) - money transferred by agents at their own expense to a unified accumulative pension fund in favor of workers employed in jobs with hazardous working conditions, whose professions are provided for by the list of industries, jobs, workers' professions.

COPC are paid no later than the 25th day of the month following the month of payment of income, unless your employer is an economic entity to which a special tax regime is applied in the manner and terms stipulated by the tax legislation of the Republic of Kazakhstan. Tax authorities control the transfer of COPC, and if the employer does not transfer funds to your account in a timely manner, the tax authorities collect funds from the employer that are subject to transfer to your account with the UAPF with the accrued interest for each day of delay.

You can monitor the status of your retirement accounts, both for compulsory and compulsory occupational pension contributions. For example, you can personally apply directly to any of the offices of the UAPF. There you can find out about the state of the account, as well as conclude an additional agreement on the choice of the method of obtaining information. The most convenient way is to provide information on the Internet through your personal account or the UAPF mobile application. By choosing this method, you will be able to control your individual pension saving account at any time convenient for you. If you have an electronic digital signature, then you can check your statement and choose the method of informing without visiting the Fund.

5) If I work under a contract, do I have to pay compulsory pension contributions (CPC) myself? 

If one of the parties to the civil contract is a tax agent (legal entities, individual entrepreneurs and persons engaged in private practice), they pay compulsory pension contributions from income paid to freelancers.

If you have entered into a SAP civil contract as an individual who is not a tax agent, then the payment of CPC is your right, not an obligation. That is, you can, at your discretion, carry out to pay CPC in your favor through second-tier banks or Kazpost to the details of the "Government for Citizens" State Corporation for their further transfer to an individual pension saving account in the UAPF.

It should be noted that if you use this right, this will not only increase the amount of pension savings, but, thereby, provide a higher size of the basic pension benefit, since it takes into account the length of service and the pension record in the accumulative pension system.