For 2 months of implementation of the National Fund for Children program, as of April 1, 2024, UAPF JSC executed (transferred by UAPF to the authorized operator for crediting to the bank accounts of applicants) 1,992 applications for a total amount of USD199,323.1. Of these, 788 applications worth USD78,798.04 were executed to improve housing conditions, and 1,204 applications worth USD120,525.06 were executed to pay for education.
It is worth considering that the recipient of target savings has the right to use both the entire amount due to him and part of it. In this case, the balance of the unused amount is stored in the target savings account.
We would like to remind you that 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, as part 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 living 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 the age of majority in 2024, recipients of target savings receive the right to use their target savings for the specified purposes.
Housing improvement
The most active among those who chose to use funds to improve their living conditions were residents of Shymkent (104 applications were executed in the amount of USD10,451.48), in second place were residents of the Kyzylorda region (95 applications were executed in the amount of USD9,547.32), in third place are residents of Astana (88 applications were completed in the amount of USD8,750.56.
At the same time, the most popular sub-goals for using funds were: replenishing the deposit in housing construction savings for further accumulation (727 applications were completed in the amount of USD72,671.00), purchasing a home as a property under civil law transactions (final settlement) - 21 applications in the amount USD2,109.88, making a down payment to obtain a residential mortgage loan for the purchase of a home – 13 applications in the amount of USD1,305.72.
Payment for education
The most active Kazakhstanis who used funds to pay for education were residents of Shymkent (232 applications were completed in the amount of USD23,232.34), in second place were residents of the Zhetisu region (123 applications were executed in the amount of USD12,290.28), in third place are residents of Zhambyl region (87 applications were completed in the amount of USD8,724.84).
Among the most popular subgoals in this area, one can highlight 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) - 991 applications for the amount of USD99,160.18. In second place in popularity is replenishment of an educational savings deposit under an educational savings deposit agreement (155 applications were completed in the amount of USD15,544.60), in third place is payment for educational services of foreign educational organizations in shares (for each academic period or academic year) or in full at a time (for the entire period of study) (39 applications were completed in the amount of USD3,911.44).
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, 2023 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.
