On April 1, 2026, the Agreement between the Governments of Kazakhstan and Mongolia on Cooperation in the Pension Sector (Agreement) entered into force. It aims to protect the pension rights of citizens of both countries.
The Agreement applies to citizens of Kazakhstan and Mongolia who permanently reside in one of the countries and have work experience in Kazakhstan or Mongolia, which will be taken into account when assigning a pension in one of these countries under the laws of the country of residence.
The following types of payments shall be provided under the Agreement:
An application for an old-age pension from budgetary funds in Kazakhstan and an old-age pension in Mongolia, along with the required documents stipulated by the legislation of the country of residence, shall be submitted by the applicant to the competent authority of the country of residence.
Citizens of Mongolia may also submit an application for a funded pension from UAPF, along with the required documents, to the competent authority of either country.
The authorized bodies for the implementation of the Agreement are:
- in Kazakhstan - the Ministry of Labor and Social Protection of the Population of the Republic of Kazakhstan;
- in Mongolia - the Ministry of Labor and Social Protection of Mongolia.
The competent authorities in Kazakhstan for the implementation of the Agreement are:
Citizens of Mongolia receive their funded pension from UAPF:
The adoption of the Agreement between Kazakhstan and Mongolia is an important step in the development of international cooperation in the pension sector. It ensures the preservation of pension rights for citizens who worked in both countries and makes the pension assignment process more convenient and transparent. The implementation of the Agreement will allow citizens to take into account work experience acquired abroad and receive pension payments in accordance with the laws of the country of residence, which is especially important in the context of increasing labor mobility of the population.
UAPF was established on August 22, 2013, on the basis of State Accumulation Pension Fund National Pension Fund JSC. The founder and shareholder of UAPF is the Government of the Republic of Kazakhstan represented by Committee on State Property and Privatization State Institution of the Ministry of Finance of the Republic of Kazakhstan. National Bank of the Republic of Kazakhstan exercises trust management of UAPF's pension assets. In accordance with pension legislation, UAPF collects compulsory pension contributions, compulsory employer pension contributions, compulsory professional pension contributions, and voluntary pension contributions, as well as credits and records voluntary pension contributions formed from the unclaimed amount of guarantee compensation for a guaranteed deposit transferred by an organization providing mandatory deposit guarantees, 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, and ensures the implementation of pension payments. The Fund also maintains records of target assets and targeted requirements, records and credits targeted savings (TS) to targeted savings accounts, pays TS to recipients' bank accounts, and records returns of TS in accordance with the procedure established by the Government of the Republic of Kazakhstan within the framework of National Fund for Children program. (More information at www.enpf.kz).
As of April 1, 2026, Kazakhstani pension savings exceeded 26.82 trillion KZT. Over the past 12 months, they have grown by approximately 4.08 trillion KZT (or 17.9%).
Pension savings from compulsory pension contributions (CPCs) as of April 1, 2026, amounted to 25.12 trillion KZT. Over the year, their volume has increased by 3.25 trillion KZT, or 14.8%.
The volume of savings from compulsory professional pension contributions (CPPCs) amounted to 741.14 billion KZT, demonstrating an increase by 13.4% over the past 12 months. A significant increase was also recorded in voluntary pension contributions (VPC), which increased by 23.1% and amounted to 10.09 billion KZT as of April 1, 2026.
The amount of savings from compulsory employer pension contributions (CEPC), which have been deposited into the pension accounts of contributors (recipients) since January 1, 2024, also continues to grow. As of April 1, 2026, it reached 950.57 billion KZT, a 2.9-fold increase compared to the same period last year.
Returns
The total savings volume is provided by pension contributions and investment income. In the first three months of 2026, 869.33 billion KZT in contributions were received into individual and conditional pension accounts, which is 14.1% (or 107.12 billion KZT) more than in the same period last year.
Individual pension accounts (IPAs) for the purpose of recording the CPCs have received 673.45 billion KZT as of April 1, 2026 (compared to the same period last year, the CPC volume has increased by 6.7%), the CPPCs have received 38.77 billion KZT (an increase by 9.8%), and the VPCs have received 499.00 million KZT. Contributions from the CEPCs for the year totaled 156.61 billion KZT.
Since the beginning of the year, net investment income generated through the management of pension assets by National Bank of the Republic of Kazakhstan (NBRK) and investment portfolio managers (IPMs) has been credited to depositors' accounts in the amount of more than 296.55 billion KZT.
Payments and transfers
Payments for all types of contributions and transfers to insurance companies from UAPF for January-March 2026 reached 360.02 billion KZT.
The volume of old-age payments amounted to 68.63 billion KZT. The average monthly payment scheduled from UAPF upon reaching retirement age was 35,596 KZT.
Lump-sum pension payments (LPP) for housing improvements and medical treatment since the beginning of 2026 amounted to 135.24 billion KZT, inheritance payments amounted to 33.05 billion KZT, payments related to permanent residence outside the Republic of Kazakhstan amounted to 9.86 billion KZT, payments to persons with disabilities amounted to 933.26 million KZT, and funeral payments amounted to 2.37 billion KZT. A total of 109.94 billion KZT was transferred to insurance companies.
Number of IPAs
The total number of pension accounts in UAPF as of April 1, 2026, was 18.53 million (an increase by 1.08 million or 6.2% over the 12 months). The number of individual pension account contributors (recipients) in UAPF as of April 1, 2026, was 12.76 million, of which 11.32 million were under the CPCs, 774.40thousand were under the CPPCs, and 473.07 thousand were under the VPCs. It should be noted that the total number of accounts for recording the compulsory pension contributions (11.32 million) also includes accounts of recipients who have permanently resided outside the country but have not applied for their savings, deceased contributors whose heirs have not formalized the inheritance of their pension savings, military personnel who transferred to full state pension provision in 2016, and other categories of contributors (recipients) whose accounts should not receive contributions under Kazakhstani law.
The number of conditional pension accounts in UAPF recording information on received compulsory employer pension contributions totaled 5.76 million.
All up-to-date statistical data on pension assets is available on enpf.kz website in the "Statistics and Analytics" section.
UAPF was established on August 22, 2013, on the basis of State Accumulation Pension Fund National Pension Fund JSC. The founder and shareholder of UAPF is the Government of the Republic of Kazakhstan represented by Committee on State Property and Privatization State Institution of the Ministry of Finance of the Republic of Kazakhstan. National Bank of the Republic of Kazakhstan exercises trust management of UAPF's pension assets. In accordance with pension legislation, UAPF collects mandatory pension contributions, mandatory employer pension contributions, mandatory professional pension contributions, and voluntary pension contributions, as well as credits and records voluntary pension contributions formed from the unclaimed amount of guarantee compensation for a guaranteed deposit transferred by an organization providing mandatory deposit guarantees, 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, and ensures the implementation of pension payments. The Fund also maintains records of target assets and targeted requirements, records and credits targeted savings (TS) to targeted savings accounts, pays TS to recipients' bank accounts, and records returns of TS in accordance with the procedure established by the Government of the Republic of Kazakhstan within the framework of National Fund for Children program. (More information at www.enpf.kz).
The investment income of Kazakhstani citizens is generated both through the management of pension assets by the National Bank of Kazakhstan (NBK) and by private Investment Portfolio Managers (IPMs).
As a result of the NBK's investment activities in managing pension assets derived from Mandatory Pension Contributions (MPC), Mandatory Professional Pension Contributions (MPPC), and Voluntary Pension Contributions (VPC), the amount of accrued investment income for the first 3 months of 2026 amounted to 271.4 billion tenge, with an additional 34.1 billion tenge generated from Mandatory Employer Pension Contributions (MEPC).
In turn, as of April 1, 2026, income generated from IPMs investment activities for 2026 amounted to 1.56 billion tenge.
It should be noted that asset managers implement a balanced investment policy, investing in various types of financial instruments across currencies, countries, sectors, and issuers. Investment income is generated from various sources: income in the form of returns on securities (as well as interest on deposits and other instruments), and through market and currency revaluation of financial instruments and assets held under external management, etc. Thus, the level of investment income depends on a number of factors: the dynamics of the market value of instruments in the portfolio, fluctuations in exchange rates, the inflation rate, dividend payments, and other conditions. Returns may increase or decrease over different periods, which is reflected in the total amount of contributors' pension savings. The primary reason for the decrease in investment income on pension assets managed by the NBK since the beginning of the current year is the negative currency revaluation of foreign currency assets resulting from the strengthening of the tenge against the US dollar — from 505.53 to 478.77 tenge per US dollar.
Despite financial market volatility, positive investment income and real returns on pension savings are ensured in the medium and long term. The cumulative investment return from the inception of the funded pension system in 1998 to April 1, 2026, amounted to 1,184.74%, while inflation for the entire period was 970.03%.
As of April 1, 2026, the net investment income earned by the NBK since April 1, 2014 (following the consolidation of pension assets into the UAPF) reached 10.54 trillion tenge. Taking into account the payouts made, its share in the total volume of contributors' (beneficiaries') pension savings stands at 40.7%, which demonstrates the significant role of investment activities in the structure of citizens' savings.
It is important to note that the return on pension assets over specific short-term periods is not an indicator of management efficiency, as income in the form of interest on financial instruments and other transactions accrued over a short period does not always offset fluctuations in the value of securities and exchange rates during that same period. Therefore, it is advisable to conduct an objective analysis of investment income over a longer time horizon.
It should be noted that contributors have the right to transfer a portion of their pension assets (up to 50% of pension savings derived from mandatory pension contributions and up to 100% of pension savings derived from voluntary pension contributions) to be managed by a private Investment Portfolio Manager (IPM) that meets the regulator's requirements.
In comparison with the more conservative management of the NBK, which is aimed at preserving pension assets and ensuring positive long-term returns, the investment declarations of IPMs and the requirements of the regulator provide for broader investment opportunities for IPMs in order to increase the return on pension assets (although this entails higher risks).
The entire system of investment management and accounting of pension assets is transparent: every contributor has the opportunity to view their investment income in their personal account on the enpf.kz website or via the mobile application.
Information regarding the investment management of UAPF pension assets and the financial instruments in which UAPF pension assets are invested is published on the official UAPF website (www.enpf.kz) in the "Statistics and Analytics/Investment Management of Pension Assets" section, as well as on the invest.enpf.kz portal
The UAPF was established on August 22, 2013, on the basis of JSC "NPF GNPF". 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. The National Bank of the Republic of Kazakhstan carries out the asset management of UAPF pension assets. In accordance with pension legislation, the UAPF performs the collection of mandatory pension contributions, mandatory employer pension contributions, mandatory professional pension contributions, and voluntary pension contributions, as well as the crediting and accounting of voluntary pension contributions formed from the unclaimed amount of guarantee compensation for a guaranteed deposit, transferred by the organization carrying out mandatory deposit insurance in accordance with the Law of the Republic of Kazakhstan "On Mandatory Guaranteeing of Deposits Placed in Second-Tier Banks of the Republic of Kazakhstan", and ensures the execution of pension payments. The Fund also carries out the accounting of target assets and target claims, the accounting and crediting of target savings (TS) to target savings accounts, the payment of TS to their beneficiaries' bank accounts, and the accounting of TS refunds 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).c
Commissioner for Ethics of local executive bodies of Kokpekty district Nugybaev Bek Nazarbekovich held a meeting with the heads of independent departments of local executive bodies and akims of rural districts. The main topic of the meeting was not to use official vehicles on weekends and holidays, on working days to use official vehicles strictly for official purposes, as well as ensuring the safety of vehicles.
Explanatory work was also carried out on compliance with the norms of the Code of Ethics of Civil Servants, legislation on public service and anti-corruption and compliance with business regulations.
In Тassay rural district, on February 23, snow removal equipment of the District Department of KOMKHOZ arrived and carried out work on cleaning the vicinity of settlements and social facilities of the rural district from snow.
Akim of the region Nurlan Urankhaev, together with the heads of the emergency department and the akimat of Semey city, inspected the flood zones of the regional center. As part of this event, the country estate Vostochny, Mirny, the island "Beibitshilik", the residential area Bobrovka were visited.
In order to control readiness for a flood-prone period, the cleaning of culverts is monitored locally. Currently, embankment dams are being strengthened, meltwater and rainwater are being diverted, evacuation points are provided for cases of flooding of houses and premises, as well as places for temporary livestock.
Work is actively carried out in the region aimed at preventing possible flooding of settlements. As part of flood control measures in the districts and cities of the region, civil protection agencies and public utilities have been put on constant alert. Stocks of inert materials have been prepared to prevent and eliminate the consequences of floods.
During the detour, the akim of the region, together with the Emergency Department, adjusted the points of the places where blasting operations will be carried out. Specific instructions were given to the relevant authorities.
"The safety of the population is a priority, and it is necessary to be fully prepared for the upcoming spring. To prevent overflows, it is necessary to carry out blasting operations on riverbeds and bends in a timely manner," Nurlan Urankhayev said.
It should be noted that flood control measures in the region are under the personal control of the akim of the region.
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