The procedure for transferring pension savings from IPM trust management to the management of the National Bank of the Republic of Kazakhstan:

The procedure for transferring pension savings from IPM trust management to the management of the National Bank of the Republic of Kazakhstan:

 

Если вкладчик принял решение вернуть пенсионные накопления из IPM в НБРК, то он подает заявление в ЕНПФ по форме, установленной внутренними документами ЕНПФ, путем личного обращения или посредством интернет-ресурса ЕНПФ, подписанное электронной цифровой подписью. В случае подачи вкладчиком заявления на возврат пенсионных накоплений из доверительного управления IPM под управление НБРК Фонд осуществляет передачу средств в течение 30 календарных дней с даты получения данного заявления.

If a contributor decides to return pension savings from the IPM to the NBRK, they submit an application to the UAPF using the form established by the UAPF's internal documents, either in person or through the UAPF website, signed with an electronic digital signature. If a contributor submits an application to return pension savings from the IPM's trust management to the NBRK's, the Fund will transfer the funds within 30 calendar days of receiving the application.

 

In some cases, the return of pension savings from the IPM trust management to the NBRK management is carried out automatically (without the mandatory requirement of submitting an application for the return of pension savings from the IPM trust management to the NBRK management):

• within 10 business days - until reaching retirement age;
• within 2 business days from the date of receipt of an application for the appointment of pension benefits in connection with the death of a person with pension savings in the UAPF (for burial, to heirs), or a court decision that has entered into legal force, as well as in other cases stipulated by the Social Code of the Republic of Kazakhstan: for example, upon receipt of an application for the payment of pension savings from persons with disabilities of the first and second groups, if the disability is established indefinitely; the established package of documents from persons who have left for permanent residence outside of Kazakhstan, etc.
• within 10 business days from the date of termination of the trust management agreement for pension assets with the IPM, if the contributor has not exercised the right to transfer pension savings to trust management of another IPM.

 

The Fund notifies the IPM of the upcoming transfer of assets no later than 10 working days before the date of transfer of pension assets, except in cases related to the death of the contributor, a court decision that has entered into legal force, and other grounds provided for by law.[1].

 

The UAPF has the right to refuse the return of pension savings within 5 working days from the date of receipt of the corresponding application for return in the following cases:

• the contributor's identity document is invalid on the date of application;
• the application is submitted earlier than one year after the initial transfer of pension assets from the NBRK management to the IPM management (except in cases related to reaching retirement age, the contributor's death, a final court decision, termination of the trust management agreement with the IPM, and other grounds provided for by law[2]).

 

Refunds from IPM trust management to the National Bank of the Republic of Kazakhstan (NBRK) are made in the amount specified in the application for the return of pension savings. Upon receipt of a payment order for the return of the contributor's pension savings from the UAPF, the IPM custodian bank transfers the contributor's pension savings to the UAPF account at the NBRK within one business day.

 

[1] in the cases provided for in subparagraphs 2), 3) of paragraph 1 and paragraph 1-1 of Article 220, subparagraphs 2), 2-1) and 3) of paragraph 1 of Article 221, paragraph 1 of Article 223 of the Code;

[2] in the cases provided for in subparagraphs 2), 3) of paragraph 1 and paragraph 1-1 of Article 220, subparagraphs 2), 2-1) and 3) of paragraph 1 of Article 221, paragraph 1 of Article 223 of the Code;