The Unified State Real Estate Cadastre is transitioning to a new national coordinate system, QazTRF-23. Consequently, technical maintenance will be carried out within the Unified State Real Estate Cadastre digital system and on the Public Cadastral Map from 19:00 on October 23 to 00:00 on October 27, 2026 (covering the weekend and a public holiday).
Technological advancement necessitates updates to the methods used for determining coordinates. While earlier approaches predated the advent of satellite technology, modern systems now enable more precise coordinate determination and a higher level of spatial data management. This transition is a global practice, which Kazakhstan is now adopting. As part of this process, spatial data, maps, and services across various state information systems will be migrated to the new system.
QazTRF-23 is a modern, open national coordinate system designed to replace outdated geodetic systems. It is used to determine the precise location of land plots, buildings, roads, and other objects within the territory of Kazakhstan.
Please note that during the aforementioned period, the submission of applications for state services related to the land cadastre, registration of real estate rights, and technical surveys of real estate will be unavailable. However, users will still be able to obtain electronic certificates regarding the registration of real estate rights through digital services.
In light of these upcoming changes, the "Government for Citizens" State Corporation advises individuals and organizations to plan ahead when seeking to access these state services. Once the technical maintenance is complete, all digital services will resume normal operation.
Obtaining a new ID card, registering a vehicle, registering property rights for an apartment, or getting a driver's license—these are the services residents of the Abai Region most frequently seek at Public Service Centers. Over the first eight months of 2026, approximately 19,000 public services were provided through the region's centers.
The processing of identity documents remains the most in-demand service area. During this period, residents received about 5,300 services related to the issuance of passports and ID cards. Documents are processed and replaced for various reasons, such as reaching the required age, changes in personal data, loss, or expiration.
A significant number of requests also relate to vehicles. Approximately 4,200 vehicles were registered over the eight-month period. The centers also provide services for vehicle re-registration and updating registration details.
Real estate is another highly sought-after service area. About 2,800 services were provided regarding the state registration of rights and encumbrances on real estate. This procedure is essential for many transactions involving housing and other properties, including purchases, sales, gifting, and inheritance processing.
Services for drivers are also in demand; approximately 900 driver's licenses were issued during the eight-month period. Additionally, around 400 requests involved the issuance or revocation of certificates from the National Certification Authority of the Republic of Kazakhstan.
The highest volume of requests came from the city of Semey. Among the city's centers, Public Service Center No. 2 is particularly popular, as residents go there for the most commonly requested services.
As part of the Year of Digitalization, the "Government for Citizens" State Corporation continues to implement digital solutions aimed at improving the quality and convenience of accessing public services.
A pilot project for booking queue tickets via a unified electronic queuing system was launched in September 2025 and rolled out in stages across Public Service Center (PSC) branches nationwide. A new phase of the pilot project is now launching, covering five additional PSC branches. These include branches in the Makanshy District (Abai Region), Shortandy and Zhaksy Districts (Akmola Region), Isatay District (Atyrau Region), and Moyynkum District (Zhambyl Region). With the inclusion of these new branches, the total number of participating locations will reach 39 PSC front offices across the country.
Under the pilot project, citizens wishing to receive services at PSC branches must book a ticket in advance using the "PSC" mobile app. During the booking process, applicants can select a convenient date and time for their visit. Upon arrival at the PSC, the system will identify if the applicant belongs to a priority category and ensure they are called forward accordingly.
However, the issuance of completed documents, the operation of self-service areas, and documentation-related services will continue to function as usual, without the need for advance ticket booking.
The new branches joining the project at this stage mark the completion of its expansion. The pilot project will allow for an assessment of the new service's convenience for citizens and its practical effectiveness.
The "Government for Citizens" State Corporation showcased the operations of the 1414 Unified Contact Center and its AI-based solutions at the AI & Digital Bridge 2026 international forum.
One of the key tools of the 1414 service is the "AI Senim" voice assistant. It provides consultations to citizens regarding more than 100 popular government services. On average, "AI Senim" handles 25,000 to 30,000 inquiries per month. The AI assistant resolves 40% of these requests independently, while forwarding the remaining 60% to human operators for more detailed consultation.
"The process of delivering government services is continuously evolving to meet modern demands, becoming increasingly convenient for citizens. We intend to continue this work and implement innovative solutions to enhance the quality of service provided to the public. I am confident that these measures will contribute significantly to ensuring maximum accessibility and convenience when accessing government services," noted Arman Kenzhegaliev, Chairman of the Board of the "Government for Citizens" State Corporation.
Overall, one in every 20 calls to the 1414 service is handled with the assistance of the AI agent. Plans are in place to expand its use so that every incoming call is initially processed by "AI Senim."
The AI assistant recognizes the caller's input, identifies the nature of the request, and provides the necessary information. Work is also underway to implement dynamic services; in the future, citizens will be able not only to receive consultations but also to process service requests directly during the voice call.
A platform for monitoring the AI assistant's performance was also demonstrated at the forum. It enables real-time tracking of inquiry volumes, call durations, system load, and other key metrics. In addition, specialists can listen to the call recording and view the full transcript, the AI assistant's actions, and the outcome of the request processing. The platform also enables the analysis of conversation sentiment.
As of September 1, 2026, the volume of pension savings held by Kazakhstanis exceeded KZT 28.47 trillion, marking a 12-month increase of KZT 3.36 trillion (or 13.4%).
Pension savings derived from compulsory pension contributions (CPCs) stood at KZT 26.37 trillion as of September 1, 2026, having risen by KZT 2.53 trillion—or 10.6%—over the preceding 12 months.
Pension savings of compulsory occupational pension contributions (COPC) amounted to KZT 746.16 billion increasing by 5.0% in 12 months.
Growth continued in savings accumulated through voluntary pension contributions (VPCs). As of September 1, 2026, the volume of these savings stood at KZT 10.43 billion, marking a 7.1% increase over the preceding 12 months.
Pension savings derived from employer’s compulsory pension contributions (ECPCs)—which have been credited to contributors' (beneficiaries') pension accounts since January 1, 2024—amounted to KZT 1,348.82 billion as of September 1, 2026, having increased nearly 2.5-fold over the 12-month period.
Incomes
The total volume of accumulated funds is derived from pension contributions and investment income. During the first eight months of 2026, contributions totaling KZT 2,439.42 billion were credited to contributors' individual and conditional pension accounts, representing a 15.9% (or KZT 334.44 billion) increase compared to the same period last year.
From the beginning of 2026 through September 1, 2026, contributions credited to individual pension savings accounts (IPSA) amounted to KZT 1,865.85 billion for compulsory pension contributions (CPC)—an 8.1% increase year-on-year—and KZT 100.97 billion for compulsory occupational pension contributions (COPC)—a 12.3% increase—while voluntary pension contributions (VPC) totaled KZT 1,412.37 million. Employer’s compulsory pension contributions (ECPC) for the period from the start of the year to September 1, 2026, amounted to KZT 471.18 billion.
Net investment income credited to contributors' accounts from the beginning of the year through September 1, 2026, totaled KZT 1,198.09 billion.
Benefits and transfers
Benefits from all types of contributions and transfers to insurance organizations from the Unified Accumulative Pension Fund (UAPF) totaled KZT 1,242.35 billion for the period of January–August 2026.
Old-age pension benefits amounted to KZT 196.23 billion. The average monthly scheduled benefit from the UAPF upon reaching retirement age was 39,008 tenge.
Lump-sum pension benefit payments for housing improvements and medical treatment totaled KZT 462.75 billion between the start of 2026 and September 1, 2026; inheritance benefits amounted to KZT 70.61 billion; payments related to permanent relocation outside the Republic of Kazakhstan totaled KZT 33.62 billion; benefits to persons with disabilities amounted to 2.32 billion tenge; and funeral payments totaled KZT 6.33 billion. A total of KZT 470.49 billion was transferred to insurance organizations.
IPSA number
As of September 1, 2026, the total number of pension accounts at the UAPF stood at 19.01 million (an increase of 1.13 million, or 6.3%, over the preceding 12 months). Of this total, the number of individual pension savings accounts held by contributors (beneficiaries) was 12.87 million, comprising 11.42 million CPC accounts, 794.38 thousand COPC accounts, and 464.91 thousand VPC accounts. It should be noted that the total number of CPC accounts (11.42 million) also includes accounts belonging to beneficiaries who have left the country for permanent residence abroad but have not claimed their accumulated funds; deceased contributors whose heirs have not processed the inheritance of pension savings; military personnel transferred to full state pension provision since 2016; and other categories of contributors (beneficiaries) whose accounts are not subject to contributions under Kazakhstani legislation.
The number of individual pension savings accounts at the UAPF recording information on received ECPC contributions totaled 6.14 million.
Up-to-date statistical data on pension assets is available on the enpf.kz website under the "Statistics and Analytics" section.
Starting October 1, 2026, Semey Public Service Center No. 2, located at 22 Bauyrzhan Momyshuly Street, will operate on a duty schedule.
Previously, Public Service Center No. 2, located at 21 Kvartal 401, operated on a duty schedule. This PSC will now operate as usual.
As a reminder, public service centers are open Monday through Friday from 9:00 AM to 6:00 PM. On-duty PSCs are open weekdays from 9:00 AM to 8:00 PM and Saturdays from 9:00 AM to 1:00 PM.
Semey residents can pre-book a visit to the PSC using the "PSC" mobile app.
On September 17, 2026, the Kazakhstan Insurance Forum 2026 took place in Almaty, bringing together representatives from the insurance, financial, and pension sectors to discuss key issues regarding the industry's development. The forum featured a panel discussion titled "Life Not According to Plan: Why Are We Afraid to Insure Our Future?", where participants explored the development of life insurance, long-term financial planning, and new opportunities for citizens to secure future income.
The discussion was moderated by insurance market expert and Centras Group founder Eldar Abdrazakov. Participants included Zhanat Kurmanov, Chairman of the Executive Board of UAPF JSC; Adil Mukhamedzhanov, Chairman of the Board of KASE; Gulzhan Zhaksymbetova, Chair of the Board of BCC Life JSC; Anastasia Ovsyannikova, Vice President of Bank CenterCredit; Gaukhar Buribayeva, Chair of the Board of Halyk-Life JSC; and Murat Kylyshbay, founder of the Islamic fintech company AJR Finance Ltd.
One of the discussion topics focused on the development of pension annuities as a tool for providing retirement income to citizens. Zhanat Kurmanov, Chairman of the Executive Board of UAPF JSC, outlined the prospects for this sector. He noted that Kazakhstan’s insurance market is growing rapidly and holds significant potential for further expansion. However, in his view, the scale of the insurance industry does not yet fully align with the pace of economic development.
"The pension annuity market is emerging as a key driver for the growth of the life insurance sector. The option to use pension savings to purchase a pension annuity was originally built into the pension system as a way to provide citizens with income during retirement. Today, Kazakhstanis with pension savings in the UAPF can choose from various payout methods: scheduled payments from the UAPF until funds are exhausted, lifetime payments via an insurance company, or a combination of these options."
The life insurance market is deeply integrated with the investment market. Beyond traditional products—such as immediate, deferred, and joint retirement annuities—new opportunities linked to the investment component are emerging. This is a natural progression, given that life insurance is closely tied to the investment market globally and insurance companies act as major institutional investors.
"It is therefore important that retirement annuities are not viewed through a 'buy-and-forget' lens. Citizens need to understand the additional benefits this financial instrument offers, particularly regarding long-term financial planning and the investment component. Further market development could lead to the emergence of new products—including hybrid ones—that combine insurance protection, regular dividends, and investment opportunities," commented Zhanat Kurmanov.
Zhanat Kurmanov also emphasized the need to further foster a culture of long-term financial planning among the population. This is particularly relevant for young people, who—as noted during the discussion—often focus primarily on short-term financial goals.
What types of pension annuities are available to Kazakhstanis?
As a reminder, a pension annuity is a contract between an individual and a life insurance company under which the insurer commits to paying a monthly pension for life or until a specified age. Various types of pension annuities are available on the Kazakhstani life insurance market.
An immediate pension annuity provides for benefits to begin after the contract is concluded, in accordance with its terms.
A deferred pension annuity entails benefits commencing after a specific period stipulated in the contract. During the deferral period, funds may be invested according to the contract terms, which affects the amount of future benefits.
A joint (spousal) pension annuity allows two individuals to pool their pension savings to receive lifetime benefits under the contract terms. Upon the death of one participant, payments continue for the benefit of the other.
Thus, the development of the pension annuity market expands opportunities for individuals to build long-term retirement income and offers additional options for managing pension savings. Ultimately, the choice between receiving pension payments from the Unified Accumulative Pension Fund (UAPF) and purchasing a pension annuity is an individual financial decision that depends on the person's life circumstances, the size of their savings, and their retirement planning goals.
The UAPF is the single operator of Kazakhstan’s funded pension system, ensuring the reliability and transparency of pension savings. Its primary mission is to accumulate citizens' pension savings and ensure their future disbursement. The Fund continues to expand its remote services, enabling Kazakhstanis to perform most essential transactions without visiting an office. The 24/7 availability of services via the website and mobile app is a key factor driving increased interest among contributors.
Between January 1, 2026, and August 31, 2026, the Fund provided 36.2 million services to the public. Of this total, 24.0 million were delivered electronically, and 11.4 million were processed automatically. Consequently, automated, electronic, and remote services accounted for 98.6% of the total volume. Despite the high level of digitalization, the Fund’s specialists continue to provide in-person service at regional branches. However, the share of in-person office visits remains minimal given the convenience of mobile and web-based resources. Specifically, 516.7 thousand services were provided in person, with 504.3 thousand of these taking place directly at the Fund’s offices.
It is worth noting that all pension accounts are opened automatically with the UAPF upon receipt of the first contribution. Similarly, targeted allocations are automatically credited to citizens of the Republic of Kazakhstan under the age of 18, and targeted savings accounts (TSA) are opened to track and disburse these funds to eligible recipients upon adulthood under the "National Fund for Children" program.
During the reporting period, the total number of accounts opened automatically—including Individual Pension Savings Accounts (IPSA) for various types of individual pension contributions, Notional Pension Savings Accounts (NPSA) for tracking employer’s compulsory pension contributions (ECPC) funded by the employer, and Targeted Savings Accounts (TSA) opened to record and disburse targeted savings to recipients under the "National Fund for Children" program—exceeded 1.3 million.
Obtaining account statements for IPSAs, NPSAs, and TSAs remains the most popular service. Since the beginning of the year, 25.0 million statements have been issued across all account types; of these, 22.4 million were provided electronically, and 2.3 million were generated automatically. The UAPF reminds the public that accessing account information via the personal account area is the most convenient, reliable, and prompt way to monitor pension savings. The service operates online 24/7, allowing users to obtain up-to-date information at any time and from anywhere in the world. Account status information is available not only through the UAPF mobile app and the personal account area on the UAPF website but also via the egov.kz portal or the e-government mobile app. This offers added convenience for users who prefer interacting with government services through unified platforms. The UAPF notes that, starting in 2025, the annual automatic mailing of account statements has been discontinued. However, it is still possible to receive information on pension savings status by mail upon submitting a formal request to the UAPF. In addition to obtaining account statements via their personal accounts on the website and mobile app, contributors (beneficiaries) can access various services. These include updating or amending their account details, obtaining certificates of account ownership, and submitting applications for pension benefits—whether due to a permanent Group 1 or 2 disability or upon reaching the age of fifty (funded by voluntary pension contributions). Users can also track pension benefit application statuses, transfer a portion of their pension savings to an Investment Portfolio Manager (IPM), and project their future pension using the pension calculator, among other features. During the reporting period, 88,800 applications were received from contributors to transfer a portion of their pension savings to IPM trust management, with the majority submitted electronically.
The UAPF reminds the public that invest.enpf.kz—a unified online platform for the investment management of citizens' pension assets—consolidates key information about Investment Portfolio Managers (IPMs) into a single digital space, ensuring a systematic approach to data disclosure regarding investment activities. The invest.enpf.kz portal offers users information in both Kazakh and Russian regarding the pension savings system, securities, investment strategies (and criteria), key concepts, and the allocation structure of pension assets. It also provides financial performance metrics for each IPM, data on their compliance with regulatory requirements, and other details that enable contributors to build a comprehensive profile of an IPM and its investment activities.
When contacting UAPF specialists for specific services, contributors typically receive additional consultation and advice on building their savings. As part of its public outreach and awareness-raising efforts, the UAPF conducted 39,700 on-site presentations, attended by a total of 783,400 people. A total of 27,500 media items were published based on UAPF announcements.
The Fund received 283,000 inquiries from contributors and beneficiaries via various communication channels (call center, website consultations, instant messaging apps, social media, and other channels).
As a reminder, any company can request an on-site presentation and consultation regarding the funded pension system; to do so, simply call the call center at 1418 or contact the Fund via its website or mobile app.
UAPF consultation services are available via instant messaging apps (WhatsApp and Viber chatbots at +7 777 000 14 18), the call center at 1418 (toll-free within Kazakhstan), the corporate website enpf.kz, and official UAPF social media pages on Instagram, Facebook, VKontakte, Telegram, and Odnoklassniki.
UAPF JSC (UAPF, the Fund) presents a report on the management of pension assets by the National Bank of the Republic of Kazakhstan (NBRK) and investment portfolio managers (IPMs) on the enpf.kz website under the section "Statistics and Analytics – Investment Management of Pension Assets."
As of September 1, 2026, the total volume of pension assets under the management of the NBRK and IPMs amounted to KZT 28,449.60 billion. As of that date, UAPF pension assets under NBRK trust management—derived from compulsory pension contributions (CPCs), compulsory occupational pension contributions (COPCs), and voluntary pension contributions (VPCs)—totaled approximately KZT 26,950.74 billion[1]. The volume of pension assets derived from employer’s compulsory pension contributions (ECPCs) under NBRK trust management stood at KZT 1,347.58 billion.
Pension assets under IPM management amounted to KZT 151.28 billion.
Investment portfolio of pension assets managed by the NBRK
As the fiduciary manager of the UAPF’s pension assets, the NBK pursues a balanced investment policy, investing in various types of financial instruments and diversifying the portfolio across currencies, countries, sectors, and issuers.
According to information provided by the NBK, the primary investment allocations for pension assets derived from CPC, COPC, VPC as of September 1, 2026, are as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan (43.46%), bonds of quasi-public companies (8.00%), NBRK deposits (3.42%), bonds of second-tier banks of the Republic of Kazakhstan (2.53%), shares and depositary receipts of Kazakhstani issuers (2.14%), foreign government securities (1.75%), and international financial organizations (0.99%).
A total of 37.38% of the assets are invested under an index management strategy. This approach involves constructing an investment portfolio based on a benchmark portfolio—a set of securities reflecting the investor's strategic interests. The benchmark portfolio's return serves as a yardstick for evaluating management performance. The benchmarks used are indices developed and tracked either by leading global financial firms or by the NBRK itself. The NBRK conducts index-based asset management both internally and by engaging foreign asset management firms for specific segments, including sub-portfolios of bonds from developed and emerging markets, corporate bonds, and equities.
The investment portfolio breakdown by currency of denomination for financial instruments acquired using CPC, COPC, VPC as of September 1, 2026, is as follows: investments in the national currency account for 58.99% of the pension asset portfolio, while investments in US dollars account for 41.01%. Investment income generated from securities—including placed deposits and reverse repo transactions—amounted to KZT 1,510.73 billion; income from the market revaluation of securities totaled KZT 119.33 billion; and other income amounted to KZT 3.87 billion.
Market revaluation of foreign currency and assets under external management—including the impact of exchange rate revaluation—resulted in a negative figure.
The accrued investment income for the 12-month period from September 2025 to August 2026 amounted to approximately 1.58 trillion tenge, with a return of 6.17% for the period.
As of September 1, 2026, the ECPC investment allocation was as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan – 96.30%; deposits with the National Bank of the Republic of Kazakhstan (NBRK) – 3.69%.
The investment portfolio funded by ECPC comprises solely financial instruments denominated in the national currency. Income generated from securities—including interest on deposits and reverse repo transactions—totaled 99.70 billion tenge. Market revaluation of securities yielded 18.80 billion tenge for contributors.
As of September 1, 2026, the accrued investment income for the preceding 12 months amounted to 158.51 billion tenge, representing a return of 18.65% for the period.
A detailed breakdown of the investment portfolio of financial instruments managed by the NBRK, including a list of issuers and an overview of investment activities, is available on the Unified Accumulative Pension Fund (UAPF) official website. Information regarding the portfolio structure of pension assets funded by ECPC is also available at enpf.kz.
Investment portfolio managers
The total volume of pension assets under IPM management stands at KZT 151.28 billion.
As of September 1, 2026, pension assets under the fiduciary management of Alatau City Invest JSC amounted to KZT 24.12 billion.
The company's primary investments consist of: Exchange Traded Fund (ETF) units (29.19%), shares and depositary receipts of issuers from the Republic of Kazakhstan (14.80%), repo transactions (13.96%), bonds of second-tier banks of the Republic of Kazakhstan (10.88%), foreign government securities (9.36%), corporate bonds of issuers from the Republic of Kazakhstan (6.46%), bonds of quasi-public organizations of the Republic of Kazakhstan (4.64%), corporate bonds of foreign issuers (3.32%), and IFI (2.36%).
It should be noted that 48.26% of the portfolio is denominated in tenge, 51.07% in US dollars, and 0.67% in other currencies.
The return on pension assets for the 12-month period from September 2025 to August 2026 was 13.91%.
A detailed breakdown of the investment portfolio of financial instruments managed by Alatau City Invest JSC, including a list of issuers, is available on the UAPF website.
As of September 1, 2026, the UAPF pension assets under the trust management of BCC Invest JSC totaled KZT 19.60 billion.
The primary investment allocations were as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan (RK) – 28.55%; bonds of quasi-public entities of the RK – 20.44%; bonds of second-tier banks of the RK – 17.76%; corporate bonds of RK-resident issuers – 9.37%; shares and depositary receipts issued by entities of the Republic of Kazakhstan – 8.34%; units of Exchange Traded Funds (ETFs) tracking the MSCI ACWI Index – 6.24%; and corporate bonds of foreign issuers – 4.18%.
Investments denominated in the national currency accounted for 73.73% of the portfolio, while those in US dollars accounted for 26.27%.
The return on pension assets for the 12-month period from September 2025 to August 2026 was 10.95%.
A detailed breakdown of the investment portfolio of financial instruments managed by BCC Invest JSC, including a list of issuers, is available on the UAPF website.
As of September 1, 2026, pension assets under the trust management of Halyk Global Markets JSC totaled KZT 6.58 billion[2].
The main investments within the portfolio structure are as follows: equity instruments of foreign issuers (ETF units) – 27.03%; reverse repo transactions (with a term of no more than 90 calendar days) – 13.24%; bonds of second-tier banks of the Republic of Kazakhstan – 13.02%; bonds of quasi-public organizations of the Republic of Kazakhstan – 11.22%; shares and depositary receipts issued by entities of the Republic of Kazakhstan – 8.75%; corporate bonds of entities of the Republic of Kazakhstan – 8.23%; NBK notes – 7.43%; government securities of the Ministry of Finance of the Republic of Kazakhstan – 5.61%; and securities with government status issued by the central governments of foreign states – 5.30%.
It should be noted that 62.39% of the portfolio is denominated in tenge, while 37.61% is denominated in US dollars.
The return on pension assets over the last 12 months was 11.30%.
A detailed breakdown of the investment portfolio of financial instruments managed by Halyk Global Markets JSC, including a list of issuers, is available on the UAPF website.
As of September 1, 2026, pension assets under the trust management of Halyk Finance JSC -Subsidiary Organization of Halyk Bank of Kazakhstan totaled KZT 77.64 billion. The portfolio's main investments are structured as follows: bonds of second-tier banks of the Republic of Kazakhstan (RK) – 19.63%; bonds of quasi-state organizations of the RK – 16.36%; corporate bonds of RK issuers – 11.20%; shares and depositary receipts of RK issuers – 11.04%; government securities of the RK Ministry of Finance – 9.79%; Exchange Traded Fund (ETF) units – 9.07%; foreign government securities – 7.08%; corporate bonds of foreign issuers – 4.68%; reverse repo transactions (with a term of no more than 90 calendar days) – 4.64%; and IFI – 1.50%.
Investments in national currency instruments account for 65.49% of the portfolio, while investments in US dollars account for 34.51%.
The return on pension assets for the 12-month period from September 2025 to August 2026 was 11.82%.
A detailed breakdown of the investment portfolio of financial instruments managed by Halyk Finance JSC, including a list of issuers, is available on the UAPF website.
As of September 1, 2026, pension assets under the trust management of Tansar Capital JSC totaled KZT 0.74 billion.
The portfolio's investment structure is as follows: Exchange Traded Fund (ETF) units tracking the MSCI ACWI Index – 52.95%; Repo transactions – 16.02%; shares and depositary receipts issued by entities of the Republic of Kazakhstan – 15.67%; and government securities of the Ministry of Finance of the Republic of Kazakhstan – 11.05%.
Investments in national currency instruments accounted for 42.94% of the portfolio, while investments in US dollars accounted for 57.06%.
Tansar Capital JSC began managing pension assets on April 8, 2026. The return on pension assets since the start of management has been 2.43%.
A detailed breakdown of the investment portfolio of financial instruments managed by Tansar Capital JSC, including a list of issuers, is available on the UAPF website.
As of September 1, 2026, UAPF pension assets under the trust management of Centras Securities JSC totaled approximately KZT 22.60 billion.
Investments were distributed as follows: bonds of second-tier banks of the Republic of Kazakhstan – 26.85%; Repo transactions – 12.14%; bonds of quasi-public organizations of the Republic of Kazakhstan – 12.57%; corporate bonds of issuers from the Republic of Kazakhstan – 16.31%; US government bonds – 8.53%; government securities of the Ministry of Finance of the Republic of Kazakhstan – 7.21%; shares and depositary receipts of foreign issuers – 5.14%; shares and depositary receipts of issuers resident in the Republic of Kazakhstan – 4.52%; and corporate bonds of foreign issuers – 2.74%.
Investments denominated in the national currency accounted for 66.06% of the portfolio, while those in US dollars accounted for 33.94%.
The return on pension assets for the 12-month period from September 2025 to August 2026 was 17.05%.
A detailed breakdown of the investment portfolio of financial instruments managed by Centras Securities JSC, including the names of issuers, is available on the UAPF website.
As of September 1, 2026, the volume of pension savings held by Kazakhstanis exceeded KZT 28.47 trillion, marking a 12-month increase of KZT 3.36 trillion (or 13.4%).
Pension savings derived from compulsory pension contributions (CPCs) stood at KZT 26.37 trillion as of September 1, 2026, having risen by KZT 2.53 trillion—or 10.6%—over the preceding 12 months.
Pension savings of compulsory occupational pension contributions (COPC) amounted to KZT 746.16 billion increasing by 5.0% in 12 months.
Growth continued in savings accumulated through voluntary pension contributions (VPCs). As of September 1, 2026, the volume of these savings stood at KZT 10.43 billion, marking a 7.1% increase over the preceding 12 months.
Pension savings derived from employer’s compulsory pension contributions (ECPCs)—which have been credited to contributors' (beneficiaries') pension accounts since January 1, 2024—amounted to KZT 1,348.82 billion as of September 1, 2026, having increased nearly 2.5-fold over the 12-month period.
Incomes
The total volume of accumulated funds is derived from pension contributions and investment income. During the first eight months of 2026, contributions totaling KZT 2,439.42 billion were credited to contributors' individual and conditional pension accounts, representing a 15.9% (or KZT 334.44 billion) increase compared to the same period last year.
From the beginning of 2026 through September 1, 2026, contributions credited to individual pension savings accounts (IPSA) amounted to KZT 1,865.85 billion for compulsory pension contributions (CPC)—an 8.1% increase year-on-year—and KZT 100.97 billion for compulsory occupational pension contributions (COPC)—a 12.3% increase—while voluntary pension contributions (VPC) totaled KZT 1,412.37 million. Employer’s compulsory pension contributions (ECPC) for the period from the start of the year to September 1, 2026, amounted to KZT 471.18 billion.
Net investment income credited to contributors' accounts from the beginning of the year through September 1, 2026, totaled KZT 1,198.09 billion.
Benefits and transfers
Benefits from all types of contributions and transfers to insurance organizations from the Unified Accumulative Pension Fund (UAPF) totaled KZT 1,242.35 billion for the period of January–August 2026.
Old-age pension benefits amounted to KZT 196.23 billion. The average monthly scheduled benefit from the UAPF upon reaching retirement age was 39,008 tenge.
Lump-sum pension benefit payments for housing improvements and medical treatment totaled KZT 462.75 billion between the start of 2026 and September 1, 2026; inheritance benefits amounted to KZT 70.61 billion; payments related to permanent relocation outside the Republic of Kazakhstan totaled KZT 33.62 billion; benefits to persons with disabilities amounted to 2.32 billion tenge; and funeral payments totaled KZT 6.33 billion. A total of KZT 470.49 billion was transferred to insurance organizations.
IPSA number
As of September 1, 2026, the total number of pension accounts at the UAPF stood at 19.01 million (an increase of 1.13 million, or 6.3%, over the preceding 12 months). Of this total, the number of individual pension savings accounts held by contributors (beneficiaries) was 12.87 million, comprising 11.42 million CPC accounts, 794.38 thousand COPC accounts, and 464.91 thousand VPC accounts. It should be noted that the total number of CPC accounts (11.42 million) also includes accounts belonging to beneficiaries who have left the country for permanent residence abroad but have not claimed their accumulated funds; deceased contributors whose heirs have not processed the inheritance of pension savings; military personnel transferred to full state pension provision since 2016; and other categories of contributors (beneficiaries) whose accounts are not subject to contributions under Kazakhstani legislation.
The number of individual pension savings accounts at the UAPF recording information on received ECPC contributions totaled 6.14 million.
Up-to-date statistical data on pension assets is available on the enpf.kz website under the "Statistics and Analytics" section.