During a special
briefing, the Director of the Department of the Kazakh Ministry of Finance
Aibol Argyngazinov announced that there are no restrictions on using funds for
tuition at foreign educational institutions under the National Fund for
Children project. Money from the country’s National Fund will be transferred to
the accounts of young Kazakh citizens starting from February 1, according to Argyngazinov.
The specific amount and the number of children who will receive these funds
will be known by the year-end. All information about individuals will be
automatically retrieved from the state database. It should be reminded that
underage Kazakh citizens will annually receive 50 percent of the National Fund’s
investment income. The funds will be automatically allocated into special
accounts with no right for early withdrawal. They can be utilized for
purchasing housing or obtaining education upon reaching adulthood. It is
noteworthy that these special accounts will be opened automatically.
“There are two ways
to check the information about the availability of funds for parents. The first
option is through the eGov.kz portal, and the second one is the Unified
Accumulative Pension Fund (UAPF) portal. Moreover, both platforms have mobile
versions. Thus, an individual identification number makes it possible to get
information on the UAPF, while on the electronic government portal, it is
available in each parent’s personal account,” said Argyngazinov.
