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 to271.4 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 accountthe 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 returnon 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 returnon 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).
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.
Paymentsandtransfers
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).
With the rapid development of digital technologies, citizens are increasingly gaining access to government, financial, and other electronic services via the internet. However, online fraud methods and techniques are also rapidly evolving. We urge you to be especially vigilant – fraudsters are actively exploiting the capabilities of rapidly developing AI, creating videos, audio recordings, and images in which people's faces and voices are replaced with real ones. For example, false advertisements and offers to invest savings in various bonds, stocks, and financial transactions are regularly distributed on social media. Also, by exerting psychological pressure and exploiting citizens' trust in official structures, fraudsters may pose as employees of government agencies, banks, law enforcement agencies, telecom operators, and other organizations, including the Unified Accumulative Pension Fund, in order to gain access to personal and financial information.
In this regard, UAPF JSC would like to remind you that the National Bank of the Republic of Kazakhstan (NBRK) is responsible for investing pension assets. It acts as a trustee for pension savings, investing them in various financial instruments in accordance with the Investment Declaration approved by the Government. In addition to the NBRK, investment portfolio managers (IPMs) may participate in managing pension assets, and a portion of savings may be transferred to them. Transfers to IPMs can only be made through the UAPF JSC portal; no intermediaries are required.
Also, for your safety and to prevent fraud, UAPF JSC reminds you:
The UAPF strongly recommends obtaining information from official sources and acting exclusively within the legal framework.
You can get answers to all questions and verify information regarding the withdrawal and transfer of your pension savings both at UAPF branches and remotely:
- via the enpf.kz website and the БЖЗҚ/ЕНПФmobile app;
- via the toll-free multi-channel call center at 1418, or via WhatsApp at +7 777 000 1418;
- on the UAPF's official social media pages on popular platforms such as Odnoklassniki, Telegram, Facebook, VKontakte, X, and Instagram.
Familiarize your loved ones, especially older relatives, with information security rules.
Take precautions to ensure the safety, security, and confidentiality of your personal data.
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
eGov.kz for obtaining information from third parties on the portal: eGov.kz log in to the portal. On the main page, select the section "citizens" - "transport and communications" - "communications". Next, select the "service for obtaining information from third parties" and click the "request Online" button. Enter the IIN and select the information from the list that you want to request, then sign up for the service and click "Get help". The result of the eGov service.kz will appear in the portal's personal account.
Citizens will be able to track the status of their applications through the PSC mobile application
As part of the digital transformation of public services, the Government for Citizens State Corporation has introduced a new feature in the PSC mobile application. Now service recipients can monitor the status of their applications for public services in the PSC in real time.
The application status is available in the PSC mobile application in the sections "PSC Services" and "specCON Services". To receive information, the user must specify their application number. This format ensures transparency and allows citizens to receive timely information on the progress of the provision of services without the need for a personal visit to the PSC.
The new feature significantly saves users time and increases trust in government services, as citizens can see what stage their application is at and when the result can be expected.
"The introduction of the application status tracking function is another step in the modernization of public services aimed at increasing transparency, accessibility and convenience of servicing citizens. Such digital solutions contribute to improving the quality of public services and correspond to the directions of digital transformation outlined in the President's Message.",- said Arman Kenzhegaliev, Chairman of the Board of the Government for Citizens State Corporation.
In addition, the application provides the ability to view and store electronic receipts – documents confirming the fact of submitting an application and receiving a service. The receipt is automatically saved in the "Application History" section, which provides quick and secure access to it at any time. The State Corporation continues to work on creating modern digital solutions that provide citizens with quick and convenient access to government services in an online format.
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)
Due to the celebration of March 8, the PSC and Special services of Kazakhstan will not work on this day. Nauryz centers will not accept citizens from March 21 to March 25. At the same time, we note that the duty officers will work on Saturday, March 9 and 25, until 13:00.
The public service centers will return to their usual work schedule on March 26.
We remind you that the PSC is open from Monday to Friday from 9:00 to 18:00, on duty – on weekdays until 20:00, and on Saturdays until 13:00.
The current addresses of the duty centers can be viewed on the official page of the State Corporation on Instagram, and also found out by number 1414.
⚡️ Kassym-Jomart Tokayev:
"Another alarming trend is the increase in domestic violence, bullying and aggression. Frankly speaking, there have been many manifestations of cruelty in our society. There are many who are ready to insult, humiliate, beat a person, everyone has probably seen attacks on ambulance drivers and public transport.
Folk wisdom says: "those who hide their illness will not find healing." We need to talk openly about these social ills. Our citizens should feel safe both at home and in public places. Therefore, law and order should reign everywhere in our country. Most importantly, we must educate a generation with a high moral culture.
Another extremely negative phenomenon is vandalism. Unfortunately, widespread damage to everything from public property to centuries-old cultural heritage has already become the norm.
Just look at the Zhumbaktas in Burabai, Kempirtas in Bayanaul, the unique beauty of which is overshadowed by various inscriptions.
⚡️ Head of State:
"Of course, there are many business people in our country who finance social projects, take part in the implementation of charitable and volunteer initiatives. And the state will always celebrate and support such entrepreneurs.
I understand the sincere, noble motives of businessmen who use their money to build mosques in the regions. But the construction of new schools, dormitories, hospitals, libraries, museums, and sports complexes would be no less noble and useful. I am sure that the descendants will appreciate and be grateful for such specific cases.
It is important for business captains to be active and socially responsible in everything, helping their compatriots as much as possible. Only in this case it will be possible to talk about the emergence of a truly new national bourgeoisie in spirit, capable of creating a competitive economy and ready to honestly serve its people."
In honor of the charity day, students of grades 8-10 of our school visited the house of Sarah Meirembaeva, who is the treasure of our village, the mother of an Afghan war veteran.
Kazakhs have always put charity above other things. In our country, we treat the older generation with great respect, it is one of our values to teach the younger generation.