Volunteer Campaign: Respect for a Veteran – An Example for the Younger Generation
As part of the volunteer campaign, civil servants from the Akim’s Office of Zharma District and the Akim’s Office of Kalbatau Rural District visited the home of their retired colleague, Mr. Nurgaliyev Myrzabek Zhakupbekovich, who faithfully served for many years as a Chief Specialist, and carried out snow removal work in the yard area.
The purpose of this noble initiative was to express respect to a veteran of public service who made a significant contribution to the development of the region, to provide support, and to strengthen the culture of mutual assistance in society.
The volunteers cleared snow from the yard and surrounding area, opened access to the house, and tidied up the premises. A simple act of help is a sign of great respect. Such initiatives demonstrate that civil servants not only fulfill their professional duties but also show strong social responsibility.
Mr. Nurgaliyev expressed his sincere gratitude for the support and wished the civil servants success and continued productive work for the benefit of the country.
Respect for elders is a fundamental national value. The volunteer campaign will continue in the future.
UAPF constantly carries out information and explanatory work on the need for timely application for pension benefits by both recipients and heirs of deceased contributors/beneficiaries.
Every year, UAPF carries out a reconciliation with the State Corporation "Government for Citizens" on persons who have reached retirement age, who have pension savings due to compulsory pension contributions, compulsory occcupational pension contributions to UAPF and who have not applied to UAPF for their benefit payment, for the presence of pension benefits by age and state basic pension benefit assigned at the expense of budgetary funds for these persons in the information system of the authorized body in the sphere of social protection of the population.
Based on the results of the annual reconciliation, UAPF makes pension payments to recipients in a proactive format through the State Corporation. That is, pensioners receiving a pension from the state budget begin to receive payments from UAPF if they have pension savings.
Statistics
As of 01.06.2025, the total amount of unclaimed pension savings of persons who have reached the generally established retirement age is about KZT37.3 bln in 264,695 individual pension savings accounts (IPSA), of which, according to information received by UAPF from the information systems of government agencies:
- 148,335 people are deceased and their pension savings can be claimed by heirs;
- 59,800 people have left for permanent residence outside of Kazakhstan;
- 56,560 people have not yet applied to the State Corporation (PSC at the place of residence) to apply for their old-age pensions.
How to receive pension benefits?
Let us remind you that pension savings are subject to UAPF accounting, continue to be invested and are held in the IPSA of contributors until demanded by beneficiaries or their heirs (in the event of the depositor's death).
The pensioner did not apply for savings
To assign pension benefits from UAPF at the expense of mandatory types of pension contributions in connection with reaching retirement age, as well as the assignment of a basic and solidarity pension from the state budget, recipients must contact the State Corporation "Government for Citizens" (CSC) at their place of residence.
When leaving for permanent residence
Foreigners and stateless persons who have left for permanent residence outside of Kazakhstan, who have pension savings in UAPF and have submitted documents in accordance with Kazakhstani legislation, may exercise the right to pension benefits from UAPF in connection with leaving for permanent residence outside of Kazakhstan.
In connection with the death of a person with pension savings
In the event of the death of a person with pension savings in UAPF, his/her family members of UAPF are paid a one-time payment for burial at the expense of the deceased person's pension savings within the amount of 94 times the monthly calculation indicator established for the relevant financial year by the law on the republican budget, but not more than the deceased person's funds available in IPSA.
Pension savings are also inherited in the manner established by the legislation of the Republic of Kazakhstan. Within 6 months after the death of a person with pension savings, his/her heirs must contact a notary to register the inherited property in the form of the deceased person's pension savings and obtain a certificate of inheritance rights. If the application deadlines are missed, it is necessary to contact the judicial authorities to restore the right to inheritance.
The list of necessary documents for receiving pension benefits, depending on the type of pension benefits and the method of application, is posted on the enpf.kz website in the "Services-Pension Benefits" section.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz)
The amount of pension benefits from the UAPF directly depends on the amount of savings that are formed thanks to regular and full contributions. The amount of contributions received monthly into accounts increases due to investment income, and also serves as confirmation of work experience since 1998, which is necessary for calculating both the total length of participation in the pension system and the amount of the basic pension benefit at the expense of budgetary funds.
UAPF reminds of the importance of monitoring the correctness of calculations, especially if contributions are withheld from wages. All these measures will help ensure that citizens' savings in the UAPF are in full order and will provide a decent pension in the future.
Today, every person with an account in UAPF has access to a personal account on the official website enpf.kz or in the UAPF mobile application. This service allows you to conveniently and quickly track the status of your savings and receive up-to-date information on all transactions on your accounts. The registration procedure in your personal account is simple and accessible even for those who are encountering such services for the first time.
Receiving information about the status of your accounts through your personal account is the most convenient, reliable and prompt way to control your pension savings. The service operates online around the clock (24/7), which allows you to receive up-to-date information at any time and from anywhere in the world.
In addition, information on the status of accounts is available not only through the personal account on the UAPF website, but also through the egov.kz portal or the e-government mobile application. This provides additional convenience for users who prefer to interact with government services through single platforms.
Statistics: since the beginning of 2025, as of March 1, 5.4 million statements from UAPF accounts were issued, of which more than 4.4 million (or 82%) were in electronic form. This demonstrates the growing popularity of digital services and the high level of trust of citizens in online forms of obtaining information.
It is important to note that the transition to electronic platforms significantly reduces the likelihood of errors in obtaining information and simplifies interaction with UAPF. Thanks to this, contributors can take timely measures in the event of problems with the transfer of contributions and questions arising. This will also allow you to most accurately present an objective picture of personal savings and take action in advance to increase your pension capital.
The control exercised by contributors today will allow them to be confident in their future!
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz)
Who is entitled to receive pension savings benefit payments according to the schedule?
Monthly pension benefit payments according to the established schedule from the UAPF in accordance with the Social Code of the Republic of Kazakhstan are made to persons who have reached retirement age (men - 63 years, women - 61 years), as well as persons with disabilities of group 1 or 2, established indefinitely, who have pension savings in the UAPF, in the manner determined by the Government of the Republic of Kazakhstan.
How are pension benefits calculated according to the schedule?
Pension benefits are calculated according to the schedule as follows: in the first year of receiving benefits, the amount of pension savings is multiplied by the pension savings payment rate of 6.5% and divided by 12. In subsequent years, the amount of the monthly pension benefit is increased by the pension benefit indexation rate of 5%. In this case, the monthly pension benefit from the UAPF is paid in the amount of at least 70% of the subsistence minimum (hereinafter - SM) established for the relevant financial year by the law on the republican budget (in 2025, the SM is 46,228 tenge).
For beneficiaries of certain categories: persons with disabilities of groups 1 or 2, established indefinitely, as well as those who worked in hazardous industries, whose savings are formed through compulsory occupational pension contributions in total for at least sixty months, the Methodology provides for correction factors that increase the amount of the monthly pension benefit. For persons who meet more than one of the above conditions, the correction factor with the highest value is applied.
If the amount of pension savings on the date of payment from the UAPF does not exceed twelve times the minimum pension established by the law on the republican budget for the relevant financial year (in 2025, 753,252 tenge = 62,771x12), the payment is made in a lump sum.
Where and when to apply for payment of pension savings from the UAPF?
To assign pension benefit payments from the Unified Accumulative Pension Fund at the expense of mandatory types of pension contributions in connection with reaching the retirement age, as well as the assignment of a basic and solidarity pension from the state budget, beneficiaries must promptly contact the Government for Citizens State Corporation (CSC) at their place of residence. This can be done 10 days before reaching the retirement age. All types of pension benefit payments are made from the date of application. In this case, the day of application is considered to be the day of registration of the application and the necessary documents in the CSC, provided that the beneficiary has reached the retirement age, if he applied earlier - the day of application is considered to be the day of reaching the retirement age. Timely application is especially important for receiving benefit payments from the budget, for the assignment of which it is necessary to verify the work experience based on the documents submitted by the beneficiary. In addition, please note that future pensioners (potential beneficiaries), whose phone numbers are registered in the egov mobile citizens database, are sent an SMS notification from number 1414 2 months before reaching retirement age about the possibility of timely contacting the nearest branch of the State Corporation to receive services for the appointment of pension benefits with a link to the list of documents on the egov.kz website. That is, government agencies send out relevant notifications to process pension benefits within the specified timeframes, since payments are not assigned for the missed period.
It is also worth noting that in order to provide a proactive service for making pension benefit payments from the UAPF to persons who have reached retirement age, who have pension savings in the UAPF and have not applied for their payment, the UAPF conducts an annual reconciliation together with the State Corporation to determine whether these citizens have assigned pension benefit payments by age and a state basic pension benefit at the expense of budgetary funds. Based on the results of the annual reconciliation, when identifying persons who have assigned pension benefits at the expense of budgetary funds, the UAPF makes pension benefit payments to them within the framework of the relevant agreement concluded with the State Corporation, i.e. without an application.
For payment of pension savings in connection with the establishment of a disability of the first or second group for an indefinite period, you must contact the UAPF divisions either through your personal account on the website (UAPF.kz) or in the UAPF mobile application using an electronic digital signature.
Please note that the UAPF has organized on-site service for persons with a disability of the first or second group established for an indefinite period. In this case, a preliminary consultation is carried out, including a check on the possibility of receiving services remotely, without leaving.
It should be noted that pension benefits from the UAPF are paid until the pension savings are exhausted.
On the enpf.kz website, in the section "Services - Pension benefits - Payments according to schedule", there is a list of necessary documents depending on the type of pension benefit payments, the method of their submission, requirements for their execution, application forms and samples of their completion, a sample power of attorney. In the "Online services" section, it is possible to pre-check the documents sent for pension benefits from the UAPF.
Consulting services of the UAPF can be obtained through messengers (chat bot on WhatsApp and Viber at +7 777 000 14 18), call center at 1418 (calls within Kazakhstan are free), on the corporate website enpf.kz, as well as on the official pages of the UAPF on social networks Instagram, Facebook, VKontakte, X (Twitter), Telegram, Odnoklassniki.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz).
The following types of contributions are made within the framework of the funded pension system in Kazakhstan: mandatory (10% of the employee's salary, deducted monthly by the employer), compulsory occupational pension contributions (5% of the income of workers in harmful and dangerous professions, paid from the employer's budget), as well as employer’s compulsory pension contributions (ECPC) from 2024 for all employees born in 1975 and later (from 1.5% in 2024 with a gradual increase to 5% in 2028, in 2025 - 2.5%). There are also voluntary pension contributions (VPC), which can be deducted by both individuals and legal entities. Individuals contribute funds for themselves and (or) for their loved ones from their income, and legal entities - in favor of their employees and (or) third parties. It is worth noting that citizens pay VPC on their own initiative, independently setting their amount and frequency. This is one of the advantages of this type of contribution.
Voluntary pension contributions can be transferred through second-tier banks, as well as by submitting an application to the employer, on the basis of which he will transfer them to UAPF in favor of the declared person. The procedure for receiving pension payments through VPC is determined by the recipient independently in accordance with the UAPF pension rules.
To conclude an agreement and open an individual pension savings account (IPSA) for VPC, there is no need to visit the UAPF office - IPSA for accounting of VPC, as well as for other types of pension contributions, is opened automatically. Opening of IPSA for accounting of VPC is carried out without an application on the basis of:
Identification of the individual in whose favor pension contributions are made is carried out using personal data (full name, IIN, date of birth) specified in the electronic format of the payment order when transferring VPC. UAPF receives all necessary information about the details of the current identity document of the individual, place of permanent residence and other information from the relevant information systems of state bodies.
In Kazakhstan, voluntary pension contributions enjoy tax advantages. For example, VPC transferred by the employer in favor of the employee are not considered as income of an individual; for the employer, such expenses are deductible when calculating corporate income tax. That is, the employer in this case receives tax benefits.
Voluntary pension contributions, as well as all types of compulsory ones, are invested and generate income for contributors. By default, pension assets are managed by the National Bank of the Republic of Kazakhstan. However, contributors have the right to transfer pension savings to investment portfolio managers (IPM), which offer various investment strategies with different levels of profitability and risk. And if compulsory and compulsory occupational pension savings can be transferred to IPM up to 50%, then voluntary pension savings can be transferred to management in full. The transfer of IPM savings occurs upon the contributor's application, which can be submitted electronically in the personal account on the fund's website or at any UAPF branch. Based on the investment results, you can change the management company, but not more than once a year. Thus, participation in the management of pension assets is another advantage of VPC.
Pension benefits through VPC can be received before reaching retirement age - starting from the age of 50. In addition, they are provided to persons with disabilities, as well as foreigners and stateless persons who have moved to a permanent place of residence outside the Republic of Kazakhstan, unless otherwise provided by the laws of the Republic of Kazakhstan and international treaties ratified by the Republic of Kazakhstan.
An application for receiving pension benefit payments through voluntary pension contributions (VPC) is submitted to UAPF: online in your personal account on the enpf.kz website or in the UAPF mobile application, as well as in any division of the Fund.
The amount of pension savings through all types of contributions can be easily monitored 24/7 also in your personal account on the enpf.kz website.
It is worth noting that in the event of the death of a person with pension savings, including through voluntary pension contributions, they are inherited in the manner established by the legislation of Kazakhstan. In particular, the inheritance of pension savings is carried out by will or by law. When there is no will or does not determine the fate of the entire inheritance, as well as in other cases, inheritance by law comes into force.
The UAPF website contains a list of the necessary documents for receiving pension benefit payments depending on the method of their submission to UAPF, requirements for their execution, as well as application forms and samples of their completion, a sample power of attorney. You can also pre-check the documents sent for pension payments from UAPF by using the UAPF electronic service "Preliminary check of documents for pension benefit payment".
It should be noted that pension benefit payments from UAPF are made until the pension savings are exhausted.
UAPF reminds that the timely adoption by the contributor of a decision to transfer voluntary pension contributions (VPC) will help to significantly replenish their pension capital and receive higher payments in the future.
For reference: As of January 1, 2025, savings on voluntary pension contributions amounted to about 7.94 billion tenge, showing an increase of 50.3% over the year. This is the highest rate of growth of savings among all types of contributions. The number of IPSAs for VPC accounting increased by 10.7% over the year and amounted to 439,582 units.
UAPF consulting services can be obtained via instant messengers (chat bot in WhatsАpp and Viber at +7 777 000 14 18), call center at 1418 (free call within Kazakhstan), on the corporate website enpf.kz, as well as on the official UAPF pages on social networks Instagram, Facebook, VKontakte, X (Twitter), Telegram, Odnoklassniki.
The amount of pension benefits from UAPF to pensioners who retired earlier, before 2025, will increase by 5% from January 1.
Let us remind you that benefits from UAPF are paid in accordance with the Methodology for calculating the amount of pension benefits, approved by the Decree of the Government of the Republic of Kazakhstan dated June 30, 2023. In accordance with it, benefits to citizens retiring are calculated as follows: in the first year of receiving benefits, the amount of pension savings is multiplied by the pension savings payment rate of 6.5% and divided by 12. In subsequent years, the amount of the monthly pension payment is increased by the pension benefit indexation rate of 5%. At the same time, the monthly pension benefit from UAPF is paid in the amount of at least 70% of the subsistence minimum (hereinafter - SM), established for the corresponding financial year by the law on the republican budget (in 2025, the SM is 46,228 tenge). For beneficiaries of certain categories: persons with disabilities of groups 1 or 2, established indefinitely, as well as those who worked in hazardous industries, whose savings were formed through compulsory occupational pension contributions in total for at least sixty months, the Methodology provides for correction factors that increase the amount of the monthly pension benefit. For persons who meet more than one of the above conditions, the correction factor with the highest value is applied.
Pension benefits from UAPF are paid until the pension savings in the individual pension savings account are exhausted.
2) Please tell me what is the rate of the employer’s compulsory pension contribution in 2025?
From January 1, 2025, the amount of the employer’s compulsory pension contribution (ECPC) has been increased and is 2.5%.
Recall that from January 1, 2024, the funded system of Kazakhstan was supplemented with a new component - employer’s compulsory pension contribution (ECPC). According to the adopted changes, each employer is obliged to transfer to the UAPF, in addition to the mandatory 10 percent contributions from the employee's income, additional contributions from their own funds in favor of their employees born after January 1, 1975. Every year, the size of the ECPC will gradually increase (1.5% in 2024, 2.5% in 2025, 3.5% in 2026, 4.5% in 2027) and in 2028 will be 5%.
The amount from which the ECPC is calculated cannot be less than the minimum wage (MW) and exceed 50 times the MW established for the relevant year. Persons of retirement age, persons with permanent disability of groups 1 and 2, military personnel, as well as persons born before January 1, 1975, are exempt from paying the ECPC.
Employer’s compulsory pension contributions are credited to notional pension savings accounts that are opened automatically upon receipt of the first payment and are not the property of employees, therefore, they cannot be inherited. Contributions that were paid for persons who left the system (lost citizenship of the Republic of Kazakhstan or died) will be distributed among the remaining participants and will be paid for life.
4) How to check the available amount for lump sum pension payments for improving housing conditions and/or treatment?
Information on the amount of pension savings available for making lump sum pension benefit payments (LSPBP) at the expense of compulsory pension contributions (CPC), as well as for transferring to the trust management of the investment portfolio manager at the expense of CPC, compulsory occupational pension contributions (COPC), voluntary pension contributions (VPC) can be obtained in the following ways:
Step-by-step instructions are posted on the enpf.kz website
5) How can a contributor control his pension savings?
When opening an account in UAPF, the method of providing information on the status of accounts is determined by default through the personal account on the enpf.kz website or in the БЖЗҚ/ЕНПФ mobile application. This opportunity is also provided to persons who have previously opened accounts. When applying for the first time, it is enough to go through a simple registration procedure.
Contributors can also receive information on the status of accounts through the e-government portal egov.kz.
If contributors (beneficiaries) have previously chosen the notification methods "by e-mail" or "via postal services", then these methods will be valid until the account holders change them themselves (through their personal account or at the UAPF office). In this case, you will receive information on the status of your accounts only if the UAPF information system indicates a current e-mail address or residential address.
According to the law, in the event of a change in e-mail address or residential address, it is necessary to notify UAPF within 10 calendar days. Otherwise, the message sent to the previous address (envelope with the statement) will be returned to UAPF and the Fund will not send (deliver) any further funds until the contributor (beneficiary) is notified of the new address.
You can also update your details, including your email address or residential address, in your personal account on the website or in the UAPF mobile application.
The first results of the use of target savings by adult Kazakhstanis during 2024 within the framework of the implementation of the National Fund for Children program have been summarized. As of January 01, 2025, from the moment of accrual of the first funds from the National Fund of the Republic of Kazakhstan to all children - citizens of Kazakhstan, UAPF JSC has executed (transferred to authorized operators for crediting to the bank accounts of applicants - citizens who have reached 18 years of age) 53,001 applications in the amount about 5.32 million US dollars. Of these, 29,542 applications for an amount of more than 2.96 million US dollars were executed for the purpose of improving housing conditions, 23,459 applications for an amount of more than 2.35 million US dollars for paying for education. Let us remind you that the recipient of target savings has the right to use the entire amount or part of it, the unused amount remains in the target savings account (TSA).
The most popular sub-goals for using funds for home improvement were: replenishment of a contribution to housing construction savings for further accumulation (28,752 applications were completed for a total of approximately 2.89 million US dollars), acquisition of housing in ownership through civil law transactions (final settlement) - 245 applications for a total of over 24.57 thousand US dollars, making a down payment to obtain a mortgage loan for the purchase of housing - 232 applications for a total of slightly more than 23.12 thousand US dollars.
The most popular sub-goals in terms of paying for education were: payment for educational services of educational organizations located in the Republic of Kazakhstan, in installments (for each academic period or academic year) or in full at one time (for the entire period of study) (19,728 applications were completed for a total of approximately 1.98 million US dollars), replenishment of an educational savings deposit under an agreement on an educational savings deposit (2,820 applications were completed for a total of approximately 282.97 thousand US dollars), payment for educational services of foreign educational organizations in installments (for each academic period or academic year) or in full at one time (for the entire period of study) (790 applications were completed for a total of over 79.29 thousand US dollars).
Detailed information on payments of target savings for the purpose of improving housing conditions and (or) paying for education, broken down by authorized operators and regions, can be found on the website enpf.kz.
Let us remind you that:
- participants in target claims are citizens of the Republic of Kazakhstan who have not reached the age of 18 and have the right to target claims;
- the National Bank of the Republic of Kazakhstan (NBRK) annually (October 1) sends to UAPF a report containing information on the total amount of target claims, the average investment income rate and the amount of investment income accrued on previously formed target claims of participants in target claims;
- UAPF annually, no later than the 15th day of the first month following the reporting year, generates an electronic list of participants in target claims in the UAPF information system based on the information received from the State Database "Individuals" (SDB FL) as of the end of the reporting year (December 31);
- UAPF, based on the information received from the NBRK and information on the number of participants in target requirements included in the electronic list, calculates and enters into the UAPF information system data per participant in target requirements on the amount of target requirements for the reporting year, the amount of investment income accrued on the amount of target requirements as of the end of the year preceding the reporting year;
- accounting of target requirements, target savings and target assets is maintained by UAPF in US dollars.
Target requirements for the reporting year 2024, as well as investment income, will be accrued to participants in target requirements no later than 01.02.2025.
At the same time, the transfer of target savings to target savings accounts of Kazakhstanis born in 2007, reaching 18 years of age in 2025, will also be carried out no later than 01.02.2025.
Regular reports on the program "National Fund for Children" are posted on the website enpf.kz.
You can read the terms of the program, get instructions, and answers to your questions on the website kids.enpf.kz and on the БЖЗҚ ЕНПФ YouTube channel. We also note that a video instruction on the implementation of the program "National Fund for Children", the algorithm of actions before and after the child reaches adulthood is posted on the БЖЗҚ ЕНПФ YouTube channel at the link: https://www.youtube.com/watch?v=HHQNAxfskX8.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz).
Pension savings of Kazakhstanis are invested both in the country and abroad on market terms in various financial instruments in different currencies. As a result, investment income consists of various sources: income in the form of remuneration on securities (deposits and other transactions), income in the form of market and currency revaluation of financial instruments, as well as income on assets under external management.
This is a widespread global practice. Pension funds around the world are constantly looking for attractive and profitable opportunities to invest and increase the pension capital of contributors. Currently, the National Bank of the Republic of Kazakhstan (NBRK) is engaged in investing pension assets, and since 2021, investment portfolio managers (IPMs).
As part of the information and explanatory work among the population, an Open Day on the topic of "Investment strategies of investment portfolio managers (IPM). Consideration of current issues of contributors." was held online in all branches of UAPF JSC.
This event was unique. For the first time, representatives of investment management companies, having met on one online platform, had the opportunity to tell everyone interested about their investment policy, share the results of their work and answer current questions from contributors. Participants in the event organized by the UAPF were also able to learn first-hand how to choose the right IPM, what you first need to pay attention to when deciding to transfer your money, risks, rules and algorithms for transferring pension savings. Event materials can be found on the UAPF website https://www.enpf.kz/ru/about/press-center/projects/openday2024.php
Let us recall that since January 2021, UAPF contributors have been able to transfer their pension savings to private investment companies - IPMs. Initially, it was possible to transfer only savings that exceeded the minimum sufficiency threshold or remained in the pension account after concluding a pension annuity agreement with an insurance company. However, since July 1, 2023, investment opportunities have expanded - UAPF contributors can transfer up to 50% of their savings through compulsory and compulsory occupational pension contributions, as well as 100% of voluntary contributions to trust management of private companies. Today, there are 5 of them. Each contributor can find a full list of IPMs and reviews of their activities on the UAPF website.
Having decided to transfer savings to one or more IPMs, the contributor must contact UAPF with an application, which can be submitted through a personal account on the website or in person at any branch of the Fund. All the necessary information is posted on the website www.enpf.kz in the services section - Transfer of part of pension savings to trust management, as well as in the video instructions on the Youtube channel БЖЗҚ/ЕНПФ: https://www.youtube.com/watch?v=CBVC_LdZhss
UAPF continues to keep track of pension savings even after they have been transferred to a private manager. Each contributor can see information on how much the IPM has earned them in their individual pension account statement. However, it is recommended to evaluate the results of investment activities in the long term. The Social Code stipulates that savings can be transferred from one IPM to another or back to the NBRK management no more than once a year.
An important point to remember when transferring pension savings to IPM: the state guarantee for the safety of pension savings is provided only for savings managed by the National Bank of the Republic of Kazakhstan. When transferring pension savings under IPM management, the state guarantee is replaced by a guarantee from the management company. It must ensure a return of at least the minimum level of return on assets. This level is calculated based on the weighted average return on pension assets transferred for management to all IPMs operating in the pension asset management market.
We remind you that contributors can always receive advice on pension system issues both at UAPF branches and online: on the enpf.kz website, in messengers and social networks, as well as at the Open Day events.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz)
Pension assets of Kazakhstanis as of November 1, 2024 amounted to KZT21.6 trillion. Growth over 10 months of the current year exceeded KZT3.7 trillion (amounted to 20.8%). Over the year, pension assets increased by about KZT4.4 trillion (or by 25.3%).
As of November 1, 2024, pension savings due to compulsory pension contributions (CPC) amounted to more than KZT20.7 trillion (annual growth - 24.5%, since the beginning of the year - 19.9%). The amount of pension savings under COPC was formed in the amount of about KZT633.8 billion, showing an increase of 15.3% over the year, and 11.5% since the beginning of the current year. The largest increase (47.3% for the year, 39.2% since the beginning of the year) was shown by savings on voluntary pension contributions (VPC), the volume of which amounted to more than KZT7.3 billion.
From January 1, 2024, additional funds – employer’s compulsory pension contributions (ECPC) – will be credited to the pension accounts of contributors (beneficiaries). Over the 10 months of 2024, the amount of pension savings due to ECPC amounted to more than KZT194.9 billion.
Incoming
Pension savings are increasing due to receipts in the form of pension contributions and investment income. Pension contributions to contributors' accounts for 10 months of 2024 amounted to more than KZT2.2 trillion (an increase of 29.7% or KZT514.6 billion compared to the previous year's figure).
All types of contributions show growth: about KZT2 trillion have been received to individual pension savings accounts (IPSA) for the CPC since the beginning of the year as of 01.11.2024 (this is 19.1% more than for the same period last year), for the COPC - KZT94.5 billion (an increase of 19.8%), and for the VPC - KZT2.6 billion (an increase of 38.0%).
Net investment income accrued to individual and conditional pension savings accounts of UAPF contributors since the beginning of the year as of November 1, 2024 amounted to about KZT2.4 trillion. Its volume increased by more than 1.1 trillion tenge (or 92.8%) compared to the same period last year.
Benefits and transfers
Benefit payments for all types of contributions and transfers to insurance organizations from the UAPF for 10 months of 2024 amounted to about KZT990 billion, which is almost 2 times the volume of payments in the same period last year.
KZT429.1 billion are lump sum pension benefit payments (LSPBP) for improving housing conditions and medical treatment.
Benefit payments in connection with reaching retirement age amounted to about KZT171.6 billion, which is 39.8% higher than last year.
За 10 месяцев с начала года также осуществлены выплаты по наследству – 50,3 млрд тенге, в связи с выездом на ПМЖ за пределы РК –33,9 млрд тенге, лицам с инвалидностью – более 2,5 млрд тенге, на погребение – порядка 8,4 млрд тенге. В страховые организации переведена сумма более 294,1 млрд тенге.
Over the 10 months since the beginning of the year, payments were also made for inheritance - KZT50.3 billion, in connection with leaving for permanent residence outside the Republic of Kazakhstan - KZT33.9 billion, to persons with disabilities - more than KZT2.5 billion, for burial - about KZT8.4 billion. The amount of more than KZT 294.1 billion was transferred to insurance organizations.
The amount of the average monthly benefit from the UAPF in connection with reaching retirement age was 33,865 tenge, and the maximum amount of the monthly payment was 945,752 tenge.
Number of IPSAs
The total number of pension accounts in the UAPF as of November 1, 2024 was 16.9 million units (the number of accounts since the beginning of the year has grown by more than 4.6 million units or 37.5%, over the year - by 37.9%). At the same time, the number of IPSA of contributors (beneficiaries) in the UAPF as of November 1, 2024 amounted to about 12.5 million units, of which: more than 11.1 million - according to CPC, 705.8 thousand - according to COPC, about 433.5 thousand - by VPC.
The number of conditional pension accounts in the UAPF, on which ECPC are recorded in accordance with the legislation of the Republic of Kazakhstan, was about 4.5 million units.
All up-to-date information on statistical data on pension assets, including by regions of the republic, is posted on the enpf.kz website in the "Indicators" section.
Pension assets of Kazakhstanis as of November 1, 2024 amounted to KZT21.6 trillion. Growth over 10 months of the current year exceeded KZT3.7 trillion (amounted to 20.8%). Over the year, pension assets increased by about KZT4.4 trillion (or by 25.3%).
As of November 1, 2024, pension savings due to compulsory pension contributions (CPC) amounted to more than KZT20.7 trillion (annual growth - 24.5%, since the beginning of the year - 19.9%). The amount of pension savings under COPC was formed in the amount of about KZT633.8 billion, showing an increase of 15.3% over the year, and 11.5% since the beginning of the current year. The largest increase (47.3% for the year, 39.2% since the beginning of the year) was shown by savings on voluntary pension contributions (VPC), the volume of which amounted to more than KZT7.3 billion.
From January 1, 2024, additional funds – employer’s compulsory pension contributions (ECPC) – will be credited to the pension accounts of contributors (beneficiaries). Over the 10 months of 2024, the amount of pension savings due to ECPC amounted to more than KZT194.9 billion.
Incoming
Pension savings are increasing due to receipts in the form of pension contributions and investment income. Pension contributions to contributors' accounts for 10 months of 2024 amounted to more than KZT2.2 trillion (an increase of 29.7% or KZT514.6 billion compared to the previous year's figure).
All types of contributions show growth: about KZT2 trillion have been received to individual pension savings accounts (IPSA) for the CPC since the beginning of the year as of 01.11.2024 (this is 19.1% more than for the same period last year), for the COPC - KZT94.5 billion (an increase of 19.8%), and for the VPC - KZT2.6 billion (an increase of 38.0%).
Net investment income accrued to individual and conditional pension savings accounts of UAPF contributors since the beginning of the year as of November 1, 2024 amounted to about KZT2.4 trillion. Its volume increased by more than 1.1 trillion tenge (or 92.8%) compared to the same period last year.
Benefits and transfers
Benefit payments for all types of contributions and transfers to insurance organizations from the UAPF for 10 months of 2024 amounted to about KZT990 billion, which is almost 2 times the volume of payments in the same period last year.
KZT429.1 billion are lump sum pension benefit payments (LSPBP) for improving housing conditions and medical treatment.
Benefit payments in connection with reaching retirement age amounted to about KZT171.6 billion, which is 39.8% higher than last year.
За 10 месяцев с начала года также осуществлены выплаты по наследству – 50,3 млрд тенге, в связи с выездом на ПМЖ за пределы РК –33,9 млрд тенге, лицам с инвалидностью – более 2,5 млрд тенге, на погребение – порядка 8,4 млрд тенге. В страховые организации переведена сумма более 294,1 млрд тенге.
Over the 10 months since the beginning of the year, payments were also made for inheritance - KZT50.3 billion, in connection with leaving for permanent residence outside the Republic of Kazakhstan - KZT33.9 billion, to persons with disabilities - more than KZT2.5 billion, for burial - about KZT8.4 billion. The amount of more than KZT 294.1 billion was transferred to insurance organizations.
The amount of the average monthly benefit from the UAPF in connection with reaching retirement age was 33,865 tenge, and the maximum amount of the monthly payment was 945,752 tenge.
Number of IPSAs
The total number of pension accounts in the UAPF as of November 1, 2024 was 16.9 million units (the number of accounts since the beginning of the year has grown by more than 4.6 million units or 37.5%, over the year - by 37.9%). At the same time, the number of IPSA of contributors (beneficiaries) in the UAPF as of November 1, 2024 amounted to about 12.5 million units, of which: more than 11.1 million - according to CPC, 705.8 thousand - according to COPC, about 433.5 thousand - by VPC.
The number of conditional pension accounts in the UAPF, on which ECPC are recorded in accordance with the legislation of the Republic of Kazakhstan, was about 4.5 million units.
All up-to-date information on statistical data on pension assets, including by regions of the republic, is posted on the enpf.kz website in the "Indicators" section.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz).