On the thresholds of sufficiency for the use of part of pension savings

The Law of the Republic of Kazakhstan "On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on the Recovery of Economic Growth" gave citizens the right to use part of their pension savings to improve housing conditions, pay for medical treatment, as well as to transfer private management companies to investment management.

This right can be exercised by contributors who, through the transfer of regular and full pension contributions, have formed savings that exceed the minimum sufficiency threshold and allow in the future to receive pension payments not lower than the minimum pension.

At the same time, pension savings available for use by citizens include not only mandatory pension contributions and mandatory professional pension contributions, but also the investment income received from their investment.

In accordance with the law "On Pension Provision in the Republic of Kazakhstan, the term" threshold for the minimum sufficiency of pension savings "includes the actual amount of the depositor's pension savings, as well as his future pension contributions and investment income, which will allow him to provide him with a pension income of at least the minimum pension when he reaches retirement age ... At the same time, it was taken into account that future contributions will be deducted from income not lower than the minimum wage. If incomes are higher, then the minimum sufficiency threshold will be formed faster, and payments after retirement will be higher than the minimum pension.

The methodology and parameters for calculating the sufficiency thresholds are determined by the decree of the Government of the Republic of Kazakhstan and are calculated for each age separately. The preliminary sizes of the thresholds for the minimum sufficiency of pension savings for 2021 are as follows:

Age	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

To check the compliance of their savings with the sufficiency threshold, depositors can get an extract from their pension account in the UAPF in their personal account on the website enpf.kz, in the updated mobile application of the UAPF or on the egov.kz portal online. The statement contains information about the sufficiency threshold and the amount available for the intended use.

In the Personal Account on the website and in the UAPF mobile application, two authorization methods are available: use an electronic digital signature or enter the IIN and password.

You can also check the status of your savings by regularly receiving a statement to your email address registered in the UAPF database.

For convenience and quick access to information about its savings, UAPF launched its own bot in the Telegram messenger, with which you can also get an extract.

You can also check your pension savings by visiting the regional offices of UAPF JSC with an identity document.

Residents of remote areas where there are no UAPF branches can contact the authorized branches of Kazpost JSC, the list of which is indicated on the website https://www.enpf.kz/ru/services/kazpost/index.php and choose any convenient way of informing.

 

UAPF was established on August 22, 2013 on the basis of JSC “NPF“ GNPF ”. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution "Committee for 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. From January 1, 2016, the functions of developing proposals to improve the efficiency of pension assets management were transferred to the Council for the Management of the National Fund. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, compulsory professional pension contributions, voluntary pension contributions, pension payments, individual accounting of pension savings and payments, provides the contributor (recipient) with information on the state of his pension savings (for more details see www.enpf.kz ).