"Savings and Expenditures of Kazakhstani Children's Account": Amount accrued and disbursed by the National Children's Fund of Kazakhstan
Rewritten Article:
Say Goodbye to Cramped Quarters and Hello to Scholarships!
From February 1, 2024, to May 1, 2025, the "National Fund - Children" program, a fantastic initiative, supported an astonishing 97,615 applications, amounting to a robust $11.49 million. These funds were meticulously distributed to enhance housing conditions and pave the way for education, as reported by Liter.kz.
Housing Needs Top Priority
A whopping 56,937 applications, worth over $6.70 million, were dedicated to improving housing conditions. The most sought-after sub-goals were:
- Helping families save on housing – a staggering 55,539 applications equaling about $6.55 million.
- Making the initial mortgage payment – 442 requests amounting to around $49,940.
- Settling the final payment for buying a home – 370 applications totaling over $38,570.
Education Comes Second... But Still a Big Deal
Education-related expenses took the second spot in terms of popularity, with a hefty 40,678 applications amounting to approximately $4.79 million. Their breakdown was as follows:
- Covering educational services within Kazakhstan – 35,617 applications worth approximately $4.24 million.
- Building an educational savings account – 3,789 applications totaling over $412,200.
- Funding educational services abroad – 1,067 applications aggregating more than $114,960.
Funds can be used in full or in part. Any leftover balance remains on the Target Savings Account (TSA) until the next application.
How Funds are Distributed
The "National Fund - Children" program allocates 50% of the investment income of the National Fund annually among children who are Kazakhstan citizens born in 2006 onwards.
- In 2023, each child received a neat $100.52.
- In 2024, each child pocketed $129.38.
- Children who received funds for the first time in 2024 earned an extra $3.04.
As a result, a child born in 2006 now has $100.52, while a child born in 2007 boasts $232.94.
What to Do Once You Turn 18
Upon attaining 18 years of age, it's up to you to monitor your Target Savings through your personal cabinet on the ENPF website or eGov.kz, and then submit an online application for the release of funds for purposes consistent with the program.
[1] https://kids.enpf.kz[2] https://enpf.kz[3] https://egov.kz[4] https://www.unicef.org/kazakhstan[5] https://www.inclusiveworld.org/resources/inclusive-education-21st-century[Reference List Removed to Comply with Input Limit]
- In 2025, a significant number of mortgage applications might be received by finance institutions, considering the funds distributed in 2024 were primarily used for initial and final mortgage payments, as reported by the "National Fund - Children" program.
- Wealth-management firms might experience a surge in personal-finance consultations from 2006-born individuals, as they approach their 18th birthdays, when they can begin managing their Target Savings Account balances accumulated through the "National Fund - Children" program.
- In 2025, a substantial amount of funds could be diverted towards education expenses, especially for those seeking to build educational savings accounts, given the popularity of such applications in the 2024-2025 program period.
- Liter.kz's reports indicate that, upon maturity, funds from the "National Fund - Children" program have the potential to greatly facilitate personal finance, whether through housing purchases, educational opportunities, or wealth management.
