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How Kazakhstanis use savings from the National Fund for Children program

In February 2024, the first payments began to be received into target savings accounts (TSA) in the UAPF for Kazakhstanis who had reached the age of 18, as part of the “National Fund for Children” program. According to the program, 50% of investment return of the National Fund is annually distributed among children of our country, the press service of the pension fund informs.
How Kazakhstanis use savings from the National Fund for Children program

As of March 1, 2024, during the first month of the program, 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, 162 applications worth $16,016.04 were executed to improve living conditions, and 260 applications worth $26,062.30 were executed to pay for education.

Home improvement

The most active among those who chose to use funds to improve their living conditions were residents of Shymkent (21 applications were executed in the amount of 2,108.84 US dollars), Almaty residents were the second (17 applications were executed in the amount of 1,707.28 US dollars), the residents of the Abay region were the third (14 applications were completed in the amount of 1,406.24 US dollars).

The most popular sub-goals 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 housing 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 housing - in the amount of 602.08 US dollars.

Education fee

Among the most popular sub-goals are tuition fee 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, 212 applications were completed in the amount of 21,240.98 US dollars. Replenishment of an educational savings deposit under agreement on an educational savings deposit (28 applications were completed in the amount of 2,813 US dollars) is in the second place. Tuition fees 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 (11 applications were completed in the amount of 1,104.68 US dollars) is in the third place.

As of 01.01.2024, the total number of program participants is 6,919,131 children (children born from 01.01.2006 to 31.12.2023 inclusive). Of these, 304,815 participants will turn 18 years old in 2024 (children born from 01.01.2006 to 31.12.2006 inclusive). They all were accrued the same target claim amount of $100.52.

Photos are from open sources.

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