Article 14-2. Initial educational capital of the Law On the State Educational Accumulative System

Home / RLA / Article 14-2. Initial educational capital of the Law On the State Educational Accumulative System

1. The initial educational capital is accrued under a registered deposit agreement or insurance agreement.

2. The initial educational capital is credited to the depositor under the deposit agreement or to the beneficiary under the insurance agreement, who turned five years old in the current calendar year.

3. The depositor or policyholder shall make a minimum contribution annually from the date of accrual of the initial educational capital until the depositor or beneficiary is enrolled in a participating educational organization or a foreign educational organization, or until the depositor or beneficiary reaches the age of eighteen.

The amount of the annual minimum contribution and the procedure for calculating the initial educational capital are determined in accordance with the rules for calculating, using, and returning the initial educational capital.

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Republic of Kazakhstan

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