ANNOUNCEMENT
Kazakhstanis' pension savings reached 28.35 trillion tenge.
As of August 1, 2026, the pension savings of Kazakhstanis amounted to 28.35 trillion tenge, an increase of 3.50 trillion tenge (or 14.1%) over the past 12 months.
The bulk of pension savings come from compulsory pension contributions (CPCs). As of August 1, 2026, their volume reached 26.31 trillion tenge, an increase of 2.69 trillion tenge (or 11.4%) over the past 12 months.
The volume of pension savings formed through compulsory occupational pension contributions (COPCs) exceeded 751.56 billion tenge. This figure has grown by 6.6% over the past 12 months.
Savings formed through voluntary pension contributions (VPCs) continued to grow. As of August 1, 2026, their volume amounted to 10.41 billion tenge, an increase of 14.9% over the 12 months.
A significant increase in pension savings formed through employer’s compulsory pension contributions (ECPC), which have been deposited into the pension accounts of contributors (beneficiaries) since January 1, 2024, has also been noted. As of August 1, 2026, their volume amounted to 1,273.93 billion tenge, an increase of 2.5 times over the 12 months.
Incomes
The total savings volume is provided by pension contributions and investment income. In the first seven months of 2026, 2,127.27 billion tenge in contributions were received into individual and conditional pension accounts, an increase of 15.7% (or 289.09 billion tenge) compared to the same period last year.
Individual pension savings accounts (IPSAs) for the purpose of accounting for compulsory pension contributions (CPCs) received 1,630.80 billion tenge as of August 1, 2026 (an increase of 8.1% compared to the same period last year), 87.69 billion tenge in COPCs (an increase of 11.0%), and 1,251.28 million tenge in VPCs. ECPC since the beginning of the year as of August 1, 2026, amounted to 407.53 billion tenge.
Net investment income received by contributors since the beginning of the year as of August 1, 2026, amounted to 1,233.05 billion tenge.
Benefits and transfers
Benefits for all types of contributions and transfers to insurance companies from the UAPF for January-July 2026 reached 1,083.51 billion tenge.
The volume of old-age payments amounted to 170.95 billion tenge. The average monthly payment scheduled from the UAPF upon reaching retirement age was 38,993 tenge.
Lump-sum pension benefit payments (LSPBPs) for housing improvements and medical treatment from the beginning of 2026 as of August 1, 2026, amounted to 435.20 billion tenge, inheritance payments amounted to 63.06 billion tenge, payments related to departure for permanent residence outside the Republic of Kazakhstan amounted to 28.13 billion tenge, payments to persons with disabilities amounted to 2.05 billion tenge, and funeral payments amounted to 5.56 billion tenge. An amount of 378.56 billion tenge was transferred to insurance organizations.
IPSA number
The total number of pension accounts in the UAPF as of August 1, 2026, was 18.89 million (an increase of 1.12 million or 6.3% over the 12 months). The number of individual pension savings accounts of contributors (beneficiaries) in the UAPF as of August 1, 2026, was 12.84 million, of which 11.39 million were under the CPC, 789,480 under the COPC, and 463,690 under the VPC. It should be noted that the total number of accounts for recording the CPC (11.39 million) also includes accounts of beneficiaries 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 (beneficiaries) whose accounts, according to Kazakhstani law, should not receive contributions.
The number of notional pension accounts in the UAPF recording information on received CPC totaled 6.06 million.
All up-to-date information on pension asset statistics is available on the enpf.kz website in the "Statistics and Analytics" 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)
TRANSFERRING PENSION SAVINGS TO THE IPM
TRENDING QUESTIONS ABOUT THE UAPF
Currently, depositors can transfer up to 50% of their savings, formed through compulsory pension contributions (CPC) and compulsory occupational pension contributions (COPC), and up to 100% of voluntary pension contributions, to investment portfolio managers (IPMs). Effective September 7, 2026, contributors' ability to transfer mandatory savings to IPMs will be expanded to 100%. For depositors' convenience when choosing an IPM, all necessary information is published monthly on the online pension asset investment management platform, invest.enpf.kz, including financial indicators, pension asset returns, the size of pension assets under trust management, the investment portfolio structure, and its dynamics.
To transfer pension savings to an IPM, a contributor must select an IPM from the register of IPMs approved for pension asset management (detailed information is available on the UAPF website in the "Services - Transfer to Trust Management - Register of Investment Portfolio Managers" section), and then submit an application using the appropriate form. This can be done in your personal account on the enpf.kz website using an electronic digital signature, or at any UAPF branch.
The status of your submitted application to transfer pension savings to trust management can be tracked in your personal account on the website or in the UAPF mobile app under the "My Applications for Payments/Transfers/VPC Refunds" tab.
The process of submitting applications for transfer to IPM, as well as their processing by UAPF, is fully automated. UAPF transfers pension assets to IPM trust management within the timeframes established by regulations.
Starting July 1, 2023, investors have been able to transfer up to 50% of compulsory pension contributions (CPCs), compulsory occupational pension contributions (COPCs), and up to 100% of voluntary pension contributions (VPCs) to private investment portfolio managers (IPMs), regardless of the minimum sufficiency threshold. They can also transfer the entire amount of savings under CPCs and/or COPCs if they have a pension annuity agreement with an insurance company. Starting September 7, 2026, contributors' ability to transfer mandatory savings to IPMs will be expanded to 100%.
Transferring up to 100% of pension savings to IPM management opens up opportunities for contributors to grow their capital long-term, tailored to their own preferences, based on a study of IPM indicators and strategies.
Only IPMs listed in the register of pension asset management companies of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (ARDFM) are permitted to manage pension assets, regardless of strategy. The ARDFM has developed specific requirements for IPMs: they must possess a license to manage an investment portfolio, have successful experience in the market and managing client assets, demonstrate positive financial and economic performance over the past several years, have sufficient equity capital to cover losses associated with investing pension assets, etc. Furthermore, IPMs must enter into a trust agreement with the UAPF for the management of pension assets and have a tripartite custodial agreement with the UAPF and the custodian bank.
Currently, six companies are permitted to manage pension assets. These include: Alatau City Invest JSC, BCC Invest JSC, Halyk Global Markets JSC (Halyk Global Markets JSC notified UAPF on December 30, 2025, of its agreement termination effective January 1, 2027, at the initiative of this IPM. Therefore, UAPF will not accept new applications from contributors to transfer pension assets to its management effective January 1, 2026), Halyk Finance JSC, Centras Securities JSC, and Tansar Capital JSC. If a company is removed from the register, contributors' savings will return to the management of the National Bank.
Before deciding to transfer your pension savings to a trust, we recommend carefully reviewing the current list of IPMs on the market and examining their investment statements on the UAPF website. It is important to analyze the IPM's financial performance, as well as information on the application of administrative measures, sanctions, and enforcement actions by the regulator (ARDFM) against the IPM (if any).
The choice of an IPM is an independent decision for the contributor. On the UAPF portal (https://invest.enpf.kz/), you can compare various critical IPM performance indicators, such as profitability, NU (the specific value of pension assets used to characterize their change as a result of investment, the rate of which depends on the accrued investment income (loss)), portfolio structure, and the IPM's financial performance.
The Unified Internet Information Platform for Investment Management is a modern digital resource that provides contributors with the opportunity to analyze pension investments online. In their personal account, contributors can, among other things:
Thus, the unified online platform invest.enpf.kz is becoming an important element in the development of digital services in the pension system, facilitating more informed participation by contributors in managing their pension capital and shaping their financial future.
Up-to-date information on the selected IPM investment portfolio is also available on the Fund's website: https://www.enpf.kz/ru/services/Invest/57501/
It's worth noting that the Fund already has extensive experience integrating its systems within various government programs. Accordingly, UAPF's information systems allow for the accounting of all data during interactions with the IPM.
At the same time, UAPF remains the common accounting and information center for all contributors, operating their individual pension savings accounts regardless of who manages the assets (the NBRK and/or the IPM, at the contributor's discretion).
UAPF presented its annual actuarial report for 2024
Kazakhstan is entering an era of demographic aging, and by mid-century, it will be classified as a country with a very high level of demographic aging: with the country's population expected to grow to 26.5 million by the end of 2050, every sixth resident will be over 60 years old—the elderly will account for 18.8% of the total population.
At the same time, the number of UAPF pension recipients will increase almost fourfold between 2025 and 2050, from 520,000 to almost 2 million. These data are presented in the Annual Actuarial Report for 2024 (hereinafter referred to as the Report), published by UAPF JSC (hereinafter referred to as the UAPF, or the Fund). It reflects the results of comprehensive actuarial calculations and forecasts related to the further development of Kazakhstan's pension system.
Demographic changes pose serious challenges to the pension system. Therefore, one of the state's most important tasks is to create a pension system that meets international standards and ensures adequate pension benefits. The system's effectiveness is assessed based on a number of indicators, analyzed and forecasted in the report. This annual actuarial report is an important source of data for government agencies, experts, and the general public.
Demographic trends
The first section of the Report describes demographic changes and their impact on the pension system. It presents the demographic situation as of early 2025 and long-term forecasts to 2050, using stochastic and deterministic models. General trends indicate that life expectancy is increasing and the birth rate is declining. According to forecasts, by 2050, the proportion of elderly citizens in the population will increase, while the working-age population will decline. These changes require an increased role for the funded component of the pension system.
Pension system of the Republic of Kazakhstan
The second section of the report describes Kazakhstan's existing multi-tier pension model, assesses it in international rankings, and analyzes optimal pension contribution rates for generating an adequate retirement income. It also presents the opinions of experts who pioneered the development of the financial market and the funded pension system in the country, and discusses ways to further improve the system.
Forecasting pension flows
The third section presents the results of pension flow modeling and forecasting, specifically covering the KazPRESTO integrated actuarial model and its forecast results, as well as modeling of demographics, the labor market, and pension benefits based on 10% compulsory pension contributions. The forecast calculations demonstrate sustainable growth in pension flows in the funded system over the long term. At the same time, attention is focused on the need to monitor the early withdrawal policy, improve contribution regularity, increase population coverage, and enhance investment management efficiency, especially given low real returns.
The UAPF Annual Actuarial Report is a crucial document for a comprehensive assessment of the current state and long-term development prospects of the pension system in Kazakhstan. The findings serve as the basis for developing effective solutions aimed at improving the sustainability of the pension system and the adequacy of pension benefits.
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)
Investing in the Future: Adult Kazakhstanis Used More Than $22.29 Million Under the National Fund for Children Program
As of October 1, 2025, since the program's launch on February 1, 2024, authorized operators have processed 156,956 applications totaling over $22.29 million. Funds have been transferred to authorized operators for deposit into applicants' bank accounts. Of these, 98,046 applications totaling $14.14 million were processed for housing, and 58,910 applications totaling approximately $8.15 million were processed for educational services. As a reminder, recipients of targeted savings (TS) have the right to use the entire amount or a portion of it. Any unused balance is stored in a targeted savings account (TSA).
When using funds to improve housing conditions, the main areas were: replenishment of the contribution to housing construction savings for further accumulation (95,786 applications were completed for a total of approximately 13.85 million US dollars), making a down payment to obtain a mortgage loan for the purchase of housing - 755 applications for a total of 101.44 thousand US dollars, acquisition of housing in ownership through civil law transactions (final settlement) - 553 applications for a total of approximately 69.88 thousand US dollars.
Key areas for using funds for educational purposes include payment for educational services at educational institutions located in the Republic of Kazakhstan, either in installments (for each academic period or academic year) or in a lump sum (for the entire term of study) (52,574 applications completed, totaling $7.38 million), replenishment of educational savings deposits under educational savings deposit agreements (4,477 applications completed, totaling approximately $527,670), and payment for educational services at foreign educational institutions, either in installments (for each academic period or academic year) or in a lump sum (for the entire term of study) (1,526 applications completed, totaling approximately $194,540).
Detailed information on targeted savings payments for the purpose of improving housing conditions and/or paying for education, broken down by authorized operators and regions, is available on the enpf.kz website.
As a reminder, under the National Fund for Children program, 50% of the investment income from the National Fund of the Republic of Kazakhstan is distributed annually among children of the Republic of Kazakhstan citizens born in 2006 or later. All recipients of the TS were awarded $100.52 in 2023 and $129.38 in 2024. Children who received their first National Fund payments in 2023, with the exception of those born in 2006, were awarded $3.04 in investment income this year. As a result, the target savings for a child born in 2006 are $100.52, and for a child born in 2007, $232.94.
Adult citizens must independently obtain information about their targeted savings through their personal account on the UAPF or e-government websites. They can then contact an authorized operator to open a US dollar bank account and submit an online application for targeted savings payments to improve their housing conditions and/or pay for education.
To receive targeted savings payments, the recipient or their legal representative must contact an authorized operator with whom UAPF has a corresponding agreement. Applications can be submitted through the website or mobile app of one of the following authorized operators: JSC Otbasy Bank (for improving housing conditions and paying for education), JSC Halyk Bank of Kazakhstan, or JSC Bank CenterCredit (for paying for education).
You can learn more about the program terms, get instructions, and receive 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 National Fund for Children program, and 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)
With aim to optimize the processes and facilitate the procedure for obtaining, storing and using DS keys, the National Certification Authority has moved from the current process of issuing and using two DS keys to using only one key, i.e. individuals and legal entities will get only one key based on the GOST algorithm, which will be used for both authorization and signing.
«One of the options to get public services is to use digital signature keys. With introduction of new digital technologies, it is necessary to ensure security in the current realities and use the latest versions of cryptographic standards. This standard has doubled the length of the DS key compared to the previous standard,» said Dmitry Mun, Acting Chairman of the Board, National Information Technologies JSC.
Key changes include:
- One registration certificate: instead of two registration certificates intended for authorization and signature, only one will now be issued, which facilitates the process of managing digital keys.
- Validity of previously issued DS: all the previously issued digital signatures prior to transfer to the GOST 2015 algorithm will be supported until their expiration date.
- Update simplicity: in order to use the new GOST 2015 standard you just need to update the eGov Mobile application.
How to use the new DS in the eGov Mobile app:
Also, the following unpopular templates available for legal entities are excluded:
- «Employee with the right to sign financial documents»
- «Employee of HR Department».
Е Now the service for registration at an outpatient clinic is available not only for citizens of the Republic of Kazakhstan, but also for kandas and non-residents of the country. When registering with a medical organization, users can now select a doctor and view information about a medical organization.
The service of registration at a medical organization providing primary health care remains one of the most popular on the eGov.kz. In just 6 months in 2024, more than 1.2 million applications to register in an outpatient clinic have been submitted through the portal.
The service can be used not only when you change your place of residence, but also if you wish to change your medical organisation, but only once a year (between September 15 and November 15).
The service is implemented in three stages:
- log in to the eGov.kz portal and go to the "Healthcare" section;
- from the list of services, select «Registration at an outpatient clinic» and fill-in all the required fields;
- sign the service using a digital signature;
- familiarize yourself with a notification on the application processing status in a personal account, which will be sent within the specified time period.
The public service delivery result will be sent to your personal account within the specified time.
The new service capability was launched thanks to the joint work of the Public Services Committee of the Ministry of Digital Development, Innovations and Aerospace Industry, the Ministry of Health of the Republic of Kazakhstan and National Information Technologies JSC.
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.
After heavy snowfall, road cleaning works were organized on the streets of the village of Terektinsky rural district. The neighborhood of institutions, collectives, facilities was cleared of snow.