The accrued funds will continue to be invested as part of the National Fund’s assets and bring additional investment return to children participating in the program until they reach the age of 18.
Besides, 304,815 children who will be reaching the age of 18 during 2024 have received the specified amount into their target savings accounts in the UAPF. They will have the right to use their targeted savings for housing or education immediately upon reaching adulthood. It is worth noting that in the first five days of the program, more than 30 applications have already been received for payments of targeted savings in order to improve housing conditions and (or) pay for education, and payments have already been made.
The return on investment of the National Fund amounted to 1.39 billion US dollars in annual terms, its average annual return over 18 years. The average annual return of the National Fund over 18 years is 2.6% (in US dollars). 50% of return on investment of the National Fund is 695.5 million US dollars, the amount of target requirements for accrual in 2024.
The list of Kazakhstani citizens under 18 years of age as of December 31, 2023 was compiled. It includes 6,919,131 people, 304,815 are participants who will turn 18 in 2024.
Photos are from open sources.
