Over 3.6 trillion tenge was transferred to special accounts of Kazakhstanis opened with banks-authorized operators, in accordance with 1.8 million applications for the purchase of housing and (or) medical treatment. As you know, pension savings can be used by citizens many times within the amount of pension savings in the UAPF available for withdrawal for housing, treatment or transfer to management companies.
For housing
As of August 1, 2023 from January of 2021 the UAPF executed 1,389,019 applications of contributors (beneficiaries) to use pension savings to improve housing conditions. More than KZT3.3 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 KZT2.3 million.
The maximum number of applications for improving housing conditions was sent by residents of Almaty (18.2%), Astana (14%), Mangistau region (10.3%). Detailed information is posted on the website www.enpf.kz in the “Indicators” section - for what purposes do Kazakhstanis plan to use lump-sum pension benefits and by regions (subsections “Lump-sum pension benefits for improving housing conditions by purpose” and “Lump-sum pension benefits for improving housing conditions”). conditions", respectively).
When examining the purposes for which contributors (beneficiaries) use their savings, it was revealed that: 35.1% of all applications - in order to acquire housing ownership under civil law transactions (final settlement) and the construction of an individual residential building (if available in ownership of a land plot), 21.1% of applications - in order to replenish the contribution to housing construction savings for further accumulation, 15.7% - in order to partially repay debt on a mortgage housing loan (including within the framework of financing by an Islamic bank), 15, 1% - for the purpose of partial repayment of debt on a mortgage loan under the system of housing construction savings.
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.
It should be noted that more than KZT479.1 billion was returned to 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.
For medical treatment
UAPF also executed 439,407 applications for medical treatment for a total amount of KZT366.3 billion. At the same time, the average withdrawal amount is KZT0.83 million.
96.4% of applications were executed in order to receive dental services, 2.6% of applications - ophthalmological services. For other medical areas, 1.05% of pension savings were used.
At the same time, KZT34.2 billion was returned to the IPSA of contributors (beneficiaries) in the UAPF, which were not used on time, at the request of the applicant and for other reasons.
You can get acquainted with the current statistics on the use of pension savings for medical treatment on the website www.enpf.kz in the section "Indicators" - "Lump-sum pension benefits for medical treatment".
For private management
As of August 1 of the current year, from February 18, 2021, there was transferred KZT9.8 billion the investment portfolio manager (IPM), the UAPF executed 6,738 applications from 3,972 applicants. The average transfer amount is about KZT1.45 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 five 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". It should be noted that out of KZT9.8 billion - 43.4% or KZT4.24 billion were transferred to Jusan Invest JSC, 26.4% or KZT2.6 billion to Halyk Global Markets JSC, 15.7% or KZT1.54 billion in BCC Invest JSC, 9.5% or KZT928 million in Centras Securities JSC, 5% or KZT484 million in Halyk Finance JSC.
As a reminder, from July 1, 2023, contributors can transfer up to 50% of their savings to the IPM at the expense of compulsory types of contributions (CPC and COPC) without taking into account the sufficiency threshold. Accumulations formed at the expense of voluntary pension contributions can be transferred to the IPM in full. In July, 583 Kazakhstanis took advantage of this right, transferring more than 820 million tenge to portfolio managers. At the same time, UAPF fulfilled over 740 applications for transfer.
After the initial transfer of pension assets to trust management of the IPM, the contributor has the right not more than once a year to submit an application to the UAPF for the transfer of his pension savings to trust management from one IPM to another. For the period from March 16, 2022 to July 31, 2023, 102 applicants changed the IPM: UAPF executed 145 applications for transfer from one IPM to another for a total of KZT366 million.
From July 01, 2023, the period for the return on pension savings from the trust management of the IPM to the trust management of the NBRK has been reduced. An application for the return of pension savings held in trust management of the IPM to the trust management of the NBRK can be submitted to the UAPF 1 year after the date of transfer of pension savings to the trust management of the IPM (previously, it was possible to submit an application only 2 years after the initial transfer of pension savings to the trust management of IPM). From March 15 to July 31, 2023, the UAPF executed 478 applications for the transfer of funds to the NBRK from the IPM for a total amount of KZT1.8 billion.
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.
During the period when pension savings are under the management of the National Bank of the Republic of Kazakhstan until the contributor reaches retirement age, there is a guarantee of the safety of pension savings, taking into account the level of inflation. When transferring pension savings under the management of the IPM, the state guarantee is replaced by the guarantee of the management company to ensure the minimum level of return on pension assets, which is calculated based on the weighted average profitability of pension assets transferred to the management of the IPM operating on the market.
