In February 2024, the first payments began to be received into target savings accounts (hereinafter referred to as the TSA) in the UAPF for citizens who reached 18 years of age in 2024, within the framework of the National Fund for Children program. According to the program, 50% of the investment income of the National Fund of the Republic of Kazakhstan (hereinafter referred to as the National Fund) is annually distributed among child citizens of the Republic of Kazakhstan of all ages under 18 years old.
Funds for TSA are intended to improve housing conditions and pay for education through authorized operators who have entered into appropriate agreements with the UAPF. Once funds are deposited at TSA, they are stored in US dollars. Immediately upon reaching adulthood in 2024, beneficiaries of target savings receive the right to use their target savings for the specified purposes.
During the first month of the program, as of March 1, 2024, 422 applications were executed (transferred by the UAPF to the authorized operator for crediting to the bank accounts of applicants) for a total amount of 42,078.34 US dollars. Of these, in order to improve housing conditions, 162 applications were executed in the amount of 16,016.04 US dollars, for payment of education - 260 applications in the amount of 26,062.30 US dollars
Housing conditions improvement
The most active among those who chose to use funds to improve their housing conditions were residents of Shymkent (21 applications were executed in the amount of 2,108.84 US dollars), in second place were residents of Almaty (17 applications were executed in the amount of 1,707. 28 US dollars), in third place are residents of the Abay region (14 applications were completed in the amount of 1,406.24 US dollars).
At the same time, the most popular sub-targets for using funds were: replenishing the deposit in housing construction savings for further accumulation (133 applications were completed in the amount of 13,105.12 US dollars), purchasing a home as a property under civil law transactions (final settlement) - in the amount of 1,105.20 US dollars, making a down payment to obtain a mortgage loan for the purchase of a home - in the amount of 602.08 US dollars.
Education payment
The most active Kazakhstanis who used funds to pay for education were residents of Shymkent (54 applications were completed in the amount of 5,422.86 US dollars), in second place were residents of the Zhetisu region (31 applications were executed in the amount of 3,111.96 US dollars), in third place are residents of Almaty (27 applications were completed in the amount of 2,709.88 US dollars).
Among the most popular sub-targets in this area are payment for educational services of educational organizations located on the territory of the Republic of Kazakhstan, in shares (for each academic period or academic year) or in full at a time for the entire period of study - while 212 applications were completed in the amount of 21,240 $.98. In second place in popularity is replenishment of an educational savings deposit under an agreement on an educational savings deposit (28 applications were completed in the amount of 2,813 US dollars), in third place is payment for educational services of foreign educational organizations in shares (for each academic period or academic year) or in in full at a time for the entire period of study (11 applications were completed in the amount of 1,104.68 US dollars).
Let us remind you that these are only the first accruals; the amount will increase annually due to the growth of the National Fund and the receipt of investment income. In addition, the accrued funds will continue to be invested as part of the National Fund’s assets and bring additional investment income to children participating in the program until they reach the age of 18.
The total number of program participants as of January 01, 2024 is 6,919,131 children (children born from January 01, 2006 to December 31, 2023 inclusive). Of these, 304,815 participants will turn 18 years old in 2024 (children born from January 01, 2006 to December 31, 2006 inclusive). All of them were awarded the same amount of target claims in the amount of 100 US dollars 52 cents.
Parents or other legal representatives of a minor can check information about including a child in the list of participants in target requirements on the website kids.enpf.kz using the child’s IIN, where you can familiarize yourself with the terms of the program, receive instructions, and answers to questions of interest.
Parents can also check data on accruals for each child in their personal account on the egov.kz portal.
Kazakhstanis who turn 18 in 2024 can independently check the receipt of funds for the TSA through their personal account on the UAPF Internet resource and (or) the electronic government web portal.
Statistical reports on accruals by age and regions of the republic are posted on the website enpf.kz
Detailed information on payments of targeted savings in order to improve housing conditions and (or) pay for education in the context of authorized operators and regions can be found on the website enpf.kz.
