As of September 1, 2022, from January 2021, the UAPF has executed 1,330,675 applications from contributors (beneficiaries) to use pension savings to improve housing conditions. More than KZT3.1 trillion was transferred to the special accounts of Kazakhstanis opened in banks-authorized operators. The average amount of lump-sum pension benefits amounted to about KZT2.4 million.
Most of the executed applications were sent by residents of Almaty (17.61%), Nur-Sultan (14.02%), Mangistau region (10.35%). Detailed information is available on the website www.enpf.kz in the “Indicators” section - for what purposes do Kazakhstanis plan to use lump-sum pension payments and by regions (subsections “Lump-sum pension benefits for improving housing conditions by goals” and “Lump-sum pension payments for improving housing conditions”, respectively).
To date, authorized operators accepting applications for the use of part of pension savings are Otbasy Bank Housing Construction Savings Bank JSC, Halyk Bank of Kazakhstan JSC, Altyn Bank JSC, Bank CenterCredit JSC and Bank Freedom Finance Kazakhstan JSC. We emphasize that after receipt of a lump sum pension benefit to a special account opened with an authorized operator (Otbasy Bank Housing Construction Savings Bank JSC), the beneficiary provides the authorized operator with documents confirming the intended purpose of lump sum pension benefits within 20 working days from the date of their receipt (in accordance with paragraph 13 of the Rules for the use of lump-sum pension benefits to improve housing conditions in accordance with the legislation of the Republic of Kazakhstan). An exception is the replenishment of the contribution to housing construction savings for further accumulation in order to purchase a dwelling or build an individual residential building (including the acquisition of a land plot with a special purpose - individual housing construction. In this case, the beneficiary provides Otbasy Bank with documents confirming the intended purpose of lump-sum pension benefits in within 3 years from the date of their receipt. For other authorized operators (second-tier banks), applications for a lump-sum pension benefit and documents of the beneficiary by purpose are considered in the manner and terms established by the bank's internal documents. At the same time, the bank transfers lump-sum pension benefits according to their target appointment within 10 working days from the date of crediting the amounts of lump-sum pension benefits to the special accounts of the applicant (beneficiary) are returned to the UAPF.
The beneficiary may also return the transferred amount to the UAPF without waiting for the specified period by submitting to the authorized operator a corresponding application, which the authorized operator must execute within 3 (three) business days from the date of receipt of the application for a refund from the beneficiary.
It should be noted that KZT452.5 billion was returned to the individual pension saving accounts (IPSA) of contributors (beneficiaries) from authorized operators due to the fact that lump-sum pension benefits by Kazakhstanis were not used on time, at the request of the applicant and for other reasons
UAPF also executed 391,042 applications for medical treatment for a total amount of KZT305.2 billion. At the same time, the average withdrawal amount is about KZT0.8 million. At the same time, KZT31.5 billion was returned to the IPSA of contributors (beneficiaries) in the UAPF from the authorized operator (Otbasy Bank Housing Construction Savings Bank JSC), these funds were not used on time, according to the applicant's application and other reasons.
You can get acquainted with the current statistics on the use of pension savings for treatment on the website www.enpf.kz in the section "Indicators" - "Lump-sum pension benefits for medical treatment".
As of September 1 of this year, KZT8.7 billion were transferred to the investment portfolio manager (IPM), the UAPF executed 5,878 applications. The average transfer amount is about KZT1.5 million. Detailed statistics on the transfer of pension savings to trust management is also available on the enpf.kz website in the section "Indicators" - "Transfer of pension savings to management companies".
At the moment, UAPF has concluded agreements on trust management of pension assets with four IPMs. You can get acquainted with information about them and study their investment declarations on the website enpf.kz in the section "Services" - "Register of Investment Portfolio Managers".
Recall that after receiving pension assets from the UAPF, the IPM invests them in permitted financial instruments specified in the Rules for the implementation of investment portfolio management activities, approved by the Resolution of the Board of the National Bank of the Republic of Kazakhstan dated February 3, 2014 No. 10, and provided for in the Investment Declaration of the IPM.
Under the Law on Pension Provision, IPMs are entitled to charge an investment management fee. The maximum amount of remuneration of the IPM cannot exceed 7.5% of the received investment income. The actual amount of the commission fee is annually approved by the management body of the IPM and may change no more than once a year.
During the period when pension savings are under the management of the National Bank until the depositor reaches the retirement age, there is a guarantee of the safety of pension savings, taking into account the level of inflation. When transferring pension savings to the management of the IPM, the state guarantee is replaced by the guarantee of the management company to ensure the minimum level of profitability of pension assets, which is calculated based on the weighted average return on pension assets transferred to the management of the IPM operating on the market.