Results of the use of target savings within the framework of the National Fund for Children program for 8 months of 2024.
ANNOUNCEMENT
Results of the use of target savings within the framework of the National Fund for Children program for 8 months of 2024.
Over the 8 months of program implementation, as of September 1, 2024, UAPF JSC executed (transferred to authorized operators for crediting to the bank accounts of applicants) 21,933 applications for a total amount of about 2.2 million US dollars, of which, in order to improve housing conditions, it was executed 12,487 applications in the amount of about 1.3 million US dollars, for payment of education – 9,446 applications in the amount of about 947.6 thousand US dollars. In this case, the recipient of target savings has the right to use the entire amount or part of it, the remainder of the unused amount remains in the target savings account (TSA).
The most popular sub-goals for using funds for home improvement were: replenishment of a contribution to housing construction savings for further accumulation (12,048 applications completed for a total of over 1.2 million US dollars), acquisition of housing in ownership through civil law transactions (final settlement) – 150 applications for a total of over 15 thousand US dollars, making a down payment to obtain a mortgage loan for the purchase of housing – 116 applications for a total of 11.7 thousand US dollars.
The most popular sub-goals in the context of paying for education were: payment for educational services of educational organizations located in the territory of the Republic of Kazakhstan, in installments (for each academic period or academic year) or in full at one time (for the entire period of study) (7,561 applications for more than 758.4 thousand US dollars were completed), replenishment of an educational savings deposit under an agreement on an educational savings deposit (1,366 applications for more than 137.1 thousand US dollars were completed), payment for educational services of foreign educational organizations in installments (for each academic period or academic year) or in full at one time (for the entire period of study) (433 applications for more than 43.4 thousand US dollars were completed).
Detailed information on payments of target savings for the purpose of improving housing conditions and (or) paying for education in the context of authorized operators and regions can be found on the website enpf.kz.
Let us recall that according to the National Fund for Children program, 50% of the investment income of the National Fund of the Republic of Kazakhstan is distributed once a year among children who are citizens of the Republic of Kazakhstan who were born in 2006 and later. In February 2024, based on the results of 2023, the first target requirements were accrued to all children in the UAPF, and citizens who reached 18 years of age in 2024 were credited with target savings (TS) on target savings accounts (TSA) and payments began to be made.
You can read the terms of the program, get instructions, and answers to your questions on the website kids.enpf.kz and on the БЖЗҚ ЕНПФYouTube channel. We also note that a video instruction on the implementation of the program “National Fund for Children”, the algorithm of actions before and after the child reaches adulthood is posted on the БЖЗҚ ЕНПФ YouTube channel at the link: https://www.youtube.com/watch?v=HHQNAxfskX8.
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).
