From May 1, 2022, unclaimed during the year in Kazakhstan Deposit Guarantee Fund JSC (KDIF) the amount of guaranteed compensation on guaranteed deposits will be transferred by KDIG to individual pension accounts (IPA) to account for voluntary pension contributions (VPC) opened in UAPF in the name of depositors.
The unclaimed amount of the guarantee compensation is credited to the IPA, provided that the depositor's personal data contained in the register of depositors correspond to the depositor's personal data available in the UAPF, if there is a valid identity document of the depositor, and also if the depositor in the UAPF has an IPA with pension savings at the expense of mandatory pension contributions and/or mandatory occupational pension contributions and/or CPVs.
That is, contributors do not need to specifically apply to the UAPF - subject to the specified conditions, the amounts transferred by the KDIF will be credited to the UAPF on the IP to account for the DPV automatically.
The unclaimed amounts of the guarantee compensation credited to the IPS for accounting for the DPV will be invested in the same manner as other pension assets. These amounts will bring investment income to the contributor (recipient).
Depositors will be able to receive unclaimed amounts of guarantee compensation from the UAPF in the form of pension payments at the expense of the DPV on the general basis provided for by the Law of the Republic of Kazakhstan "On Pension Provision in the Republic of Kazakhstan" for UAPF contributors who have pension savings formed at the expense of the DPV:
1) who have reached the age of fifty;
2) who are disabled;
3) foreigners and stateless persons leaving or leaving for a permanent place of residence outside the Republic of Kazakhstan, who submitted documents, determined by the legislation of the Republic of Kazakhstan, confirming the intention or fact of departure;
4) having pension savings within the limits of the CPV amount and the investment income accrued on them, which have been in the UAPF for at least five years.
At the same time, if the owner of the deposit missed the deadline for payments from the KDIF for a good reason (the depositor entered military service, the depositor was outside the Republic of Kazakhstan, the acceptance of the depositor’s inheritance and other reasons related to the acquisition or opening of the inheritance, the depositor’s presence in the deprivation of liberty, as well as other circumstances established by the court), he must apply directly to the KFGD. In this case, UAPF, on the basis of a notification from KDIF, will return the unclaimed amount of guarantee compensation to KDIF.
For reference, we inform you that as of April 15, 2022, 9 banks are in the process of liquidation in Kazakhstan. Depositors of eight liquidated banks (JSC "Valut-Tranzit Bank", JSC "Kazinvestbank", JSC "Delta Bank", JSC "Eximbank Kazakhstan", JSC "Qazaq Banki", JSC "Bank of Astana", JSC "Tengri Bank" and JSC " AsiaCredit Bank (AsiaCredit Bank)" can receive their guarantee compensation amounts from KDIF until May 1, 2022 inclusive. Depositors of Capital Bank Kazakhstan JSC, which was liquidated later, can receive guarantee compensation until July 3 of the current year inclusive. Application for payment of the amount Guarantee compensation can be submitted online through the Electronic Payout Portal or in writing through agent banks that are appointed to make payments to depositors of a bank deprived of a license.
UAPF was established on August 22, 2013 on the basis of JSC NPF GNPF. The founder and shareholder of 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. Since January 1, 2016, the functions of developing proposals to improve the efficiency of pension assets management have been transferred to the National Fund Management Council. In accordance with the pension legislation, the UAPF attracts mandatory pension contributions, mandatory 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, visit www.enpf.kz )