Article 12. State Award The Law On the State Educational Accumulative System

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 1. The state premium is accrued under a registered deposit agreement for a period of no more than twenty years.

2. The state premium is calculated annually on the actually accumulated balance of the deposit amount as of January 1, with a minimum accumulation period of one year. The State's premium is calculated for the duration of the contract.

3. The state premium is added to the main contribution amount (capitalized).

4. The accrual of the State premium is terminated:

1) in case of expiration of the accrual period established by paragraph 1 of this Article;

2) in case of expiration of the deposit agreement;

3) from the date of death, entry into force of a court decision declaring the depositor legally incompetent, missing or declared deceased.

5. The State premium is calculated in accordance with the methodology of calculating the state premium.

The Law of the Republic of Kazakhstan dated January 14, 2013 No. 67-V.

This Law regulates public relations in the sphere of functioning of the State Educational Accumulative System, as well as the conditions, forms and content of its state stimulation.

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Republic of Kazakhstan

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