Pension savings payments await their owners
Pension savings payments await their owners
UAPF constantly carries out information and explanatory work on the need for timely application for pension benefits by both recipients and heirs of deceased contributors/beneficiaries.
Every year, UAPF carries out a reconciliation with the State Corporation “Government for Citizens” on persons who have reached retirement age, who have pension savings due to compulsory pension contributions, compulsory occcupational pension contributions to UAPF and who have not applied to UAPF for their benefit payment, for the presence of pension benefits by age and state basic pension benefit assigned at the expense of budgetary funds for these persons in the information system of the authorized body in the sphere of social protection of the population.
Based on the results of the annual reconciliation, UAPF makes pension payments to recipients in a proactive format through the State Corporation. That is, pensioners receiving a pension from the state budget begin to receive payments from UAPF if they have pension savings.
Statistics
As of 01.06.2025, the total amount of unclaimed pension savings of persons who have reached the generally established retirement age is about KZT37.3 bln in 264,695 individual pension savings accounts (IPSA), of which, according to information received by UAPF from the information systems of government agencies:
– 148,335 people are deceased and their pension savings can be claimed by heirs;
– 59,800 people have left for permanent residence outside of Kazakhstan;
– 56,560 people have not yet applied to the State Corporation (PSC at the place of residence) to apply for their old-age pensions.
How to receive pension benefits?
Let us remind you that pension savings are subject to UAPF accounting, continue to be invested and are held in the IPSA of contributors until demanded by beneficiaries or their heirs (in the event of the depositor’s death).
The pensioner did not apply for savings
To assign pension benefits from UAPF at the expense of mandatory types of pension contributions in connection with reaching retirement age, as well as the assignment of a basic and solidarity pension from the state budget, recipients must contact the State Corporation “Government for Citizens” (CSC) at their place of residence.
When leaving for permanent residence
Foreigners and stateless persons who have left for permanent residence outside of Kazakhstan, who have pension savings in UAPF and have submitted documents in accordance with Kazakhstani legislation, may exercise the right to pension benefits from UAPF in connection with leaving for permanent residence outside of Kazakhstan.
In connection with the death of a person with pension savings
In the event of the death of a person with pension savings in UAPF, his/her family members of UAPF are paid a one-time payment for burial at the expense of the deceased person’s pension savings within the amount of 94 times the monthly calculation indicator established for the relevant financial year by the law on the republican budget, but not more than the deceased person’s funds available in IPSA.
Pension savings are also inherited in the manner established by the legislation of the Republic of Kazakhstan. Within 6 months after the death of a person with pension savings, his/her heirs must contact a notary to register the inherited property in the form of the deceased person’s pension savings and obtain a certificate of inheritance rights. If the application deadlines are missed, it is necessary to contact the judicial authorities to restore the right to inheritance.
The list of necessary documents for receiving pension benefits, depending on the type of pension benefits and the method of application, is posted on the enpf.kz website in the “Services-Pension Benefits” section.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan “On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan”, ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz.
