New savings system for children approved in Kazakhstan

Tengrinews.kz – Senators in Kazakhstan have approved the introduction of a unified voluntary savings system called Keleshek, which will cover children from the age of five.
Today, in its second reading, senators approved amendments related to the state educational savings system, removing excessive legislative regulations in the fields of information, public development, culture, and archival affairs.
The Keleshek system aims to provide state support for accumulating a starting capital for children, along with government bonuses and deposit guarantees.
One of the key benefits of the updated program is the provision of an initial educational capital funded by the government, amounting to 60 monthly calculation indexes (MCI), which equals 221,520 tenge in 2024. For orphans, this amount will be 120 MCI (443,040 tenge in 2024).
The government bonus will be 5 percent annually, and for children from socially vulnerable families, it will increase to 7 percent.
Uses for the funds:

Payment for education in colleges and universities in Kazakhstan and abroad;Continuing savings;
Transfers to third parties;
Purchasing housing;
If the child receives an educational grant, the savings will remain at the family’s disposal.

Additionally, the deputies approved measures to reduce bureaucracy in the fields of culture, education, and archival work, as well as to improve mechanisms for supporting creative industries.