Since January 2021, Kazakhstanis have had the opportunity to withdraw part of their pension savings from UAPF ahead of schedule.
Now citizens of the country can use these funds to improve housing conditions, pay for medical treatment or transfer them to the management of investment companies.
In this article, we will tell you how to perform this procedure.
You can buy an apartment, an individual residential building, a room in a hostel. Housing can be purchased on the primary or secondary market. Also, within the framework of a single bank loan agreement, you can purchase housing with repairs.
Required list of documents to confirm the goal:
You can partially or completely repay the debt on the loan for the purchase of housing, housing with repairs under a single bank loan agreement, received from any bank or mortgage company. Also, you can repay the loan received under the system of housing construction savings, issued for the construction of an individual residential building, including the purchase of a land plot with the intended purpose of residential housing or LPH.
Required list of documents to confirm the goal:
The help must contain:
Pension payments can be used for:
You can find out the full list of required documents for each goal and submit an application jn the portal enpf-otbasy.kz.
If you have entered into a lease agreement with the right to buy out under housing construction and anti-crisis programs, you will be able to use your pension savings to partially or fully pay the debt under long-term housing lease agreements.
Required list of documents to confirm the goal:
You can buy an apartment, an individual residential building, a room in a hostel. Housing can be purchased on the primary or secondary market, as well as in a house under construction by equity participation in housing construction with a guarantee in accordance with the legislation of the Republic of Kazakhstan, privatization, installments, exchange, an agreement on the transfer of a share in an apartment building in accordance with the legislation on equity participation of the Republic of Kazakhstan.
Housing for this purpose can be purchased at the expense of pension savings and at the expense of pension and own funds.
Required list of documents to confirm the goal:
In the case of the acquisition of housing by equity participation in the housing construction of an apartment building:
In case of full repayment of the debt under the installment agreement:
You can buy an apartment, an individual residential building, a room in a hostel. Housing can be purchased on the primary or secondary market. Also, within the framework of a single bank loan agreement, you can purchase housing with repairs, build an individual residential building (including the purchase of a land plot with the intended purpose of residential housing or LPH)
After submitting an application for this purpose, the bank's employees will contact you and conduct a full consultation on the procedure and the necessary documents.
UAPF depositors can get advice through the Contact Center at short number 1418 (toll-free in Kazakhstan), as well as contact the nearest UAPF branch if necessary. All addresses and contacts are available on the UAPF website.
You can also contact us via chatbot in WhatsApp and Viber by phone number +7 777 000 14 18. Also available on social networks
Information can also be obtained on the Otbasy Bank and UAPF platform.
You can build an individual residential building (including purchase a land plot with the intended purpose of individual housing and communal services) at the expense of pension savings, at the expense of pension savings and your own funds.
Required list of documents for receiving funds:
For the purchase of a land plot:
For the construction of a house:
The deadline for confirming the goal is 24 months from the date of receipt of funds to the contractor's account.
Required list of documents to confirm the goal:
At the moment, it is possible to apply for treatment only in Kazakhstan. Acceptance of applications for medical services abroad will be available later.
How to apply for the use of pension savings for treatment:
The available amount is the amount of pension savings above the sufficiency threshold that can be used.
The sufficiency threshold is the minimum required amount of pension savings in the UAPF for the payment of a pension upon reaching retirement age.
The presence of this amount in the depositor's pension account, together with future regular contributions to the UAPF from the depositor's income, will allow him to ensure pension payments not lower than the minimum pension.
Clients can use the available amount of money for the purpose of improving housing conditions and treatment, which exceeds the threshold of sufficiency defined for each age.
Recall that from 2022, the threshold of sufficiency will be raised for the early withdrawal of part of the savings from the Unified Accumulative Pension Fund (UAPF) for improving housing conditions, treatment or for transferring surpluses to management companies. However, the validity period of the previous thresholds for minimum sufficiency of pension savings has been extended until April 1, 2022.
You can find out your sufficiency threshold here.
Pension savings of Kazakhstanis above the sufficiency threshold can be used for housing deposits. To transfer your savings to Otbasy Bank, you need to use the platform www.enpf-otbasy.kz .
It is also necessary to open a housing deposit and a special account in Otbasy Bank in advance, which can be issued online. Kazakhstanis should also check their retirement account for sufficient savings.
On the website www.enpf-otbasy .kz there is a button "Replenishment of the contribution to housing construction savings for further accumulation" Kazakhstanis will need to log in using EDS.
Next, you need to check the availability of a deposit, a special account in your personal account. You will have to open them if it was not done in advance.
After that, an application will be generated on the platform and sent to the UAPF for the transfer of pension surpluses. The review period will be 5 working days. Then the money will be transferred to a special account of Kazakhstanis in Otbasy Bank, after which it will be automatically transferred to a housing deposit.
These funds will be subject to the same remuneration rules as for ordinary housing savings, a bank remuneration of 2% per annum and a state bonus of 20% will be accrued (for the amount of savings for the year, which does not exceed 200 MCI).
As a result, Kazakhstanis will be able to:
- to replenish the contribution to housing construction savings for further accumulation in order to purchase real estate. A mortgage must be issued within three years; purchase a land plot for the construction of an individual house or build an individual residential house on your land plot.
If the bank's clients do not use the pension surpluses within the specified period, the funds will be returned to the UAPF.
If depositors have already applied for the withdrawal of part of pension savings, they will be able to change the purpose of withdrawal. However, the time for confirming the purpose of use has been reduced to 20 working days.
For example, there are pension surpluses, but now their amount is insufficient for mortgage registration. At the same time, an application for their withdrawal has already been submitted. In this case, Kazakhstanis will be able to safely transfer these funds to their account in Otbasy Bank in order to purchase housing together with other savings.
It should be remembered that money from the UAPF cannot be:
Please read the assignment process carefully at the link: https://youtu.be/66_bcn8uiOo
IMPORTANT! The receiving party must be authorized on the platform before you choose this goal, for the correct formation of a bilateral agreement.
You can use the pension savings of your spouse or close relatives (with their consent) for any of the above purposes. Close relatives are parents, children, adoptive parents, adopted children, full / half siblings, grandparents
Instructions for conceding pension savings:
All operations for the early use of pension savings will be carried out in an online format and this will require a valid electronic digital signature.
First, the depositor needs to get information about the available amount of a one-time pension payment on the UAPF website.
Next, you need to register on the website of one of the operators using the EDS.
They are the following banks:
Otbasy Bank itself has launched a platform for submitting applications for the use of pension savings. You can open a special account for using money from the UAPF using the Otbasy bank mobile app or by making a video call on the bank's website. Next, the bank and the UAPF check the documents provided and the depositor receives the amount specified in the application to the account. Within 45 days, the recipient must confirm the intended use of the money. The bank then transfers the funds from the special account to the seller's account.
Pension payments are allowed not only to use yourself, but also to assign them to a close relative.
One-time pension payments can be used an unlimited number of times. This feature is also unlimited, that is, it is valid permanently.
Recall that from April 1, 2022, the threshold of sufficiency will be raised for the early withdrawal of part of the savings from the Unified Accumulative Pension Fund (UAPF) for improving housing conditions, treatment or for transferring surpluses to management companies.