Fraudsters are mastering new scams!
Be vigilant!
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/ЕНПФ mobile 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
UAPF reminds about changes in tax legislation
Current issues
As is known, when using the lump-sum pension benefit payment (LSPBP) for housing or medical treatment, according to current tax legislation, the individual income tax (IIT) can be paid at the contributor's discretion: immediately upon receipt of the IIT or deferred until the scheduled pension payments are made. At the same time, starting January 1, 2024, individuals belonging to socially vulnerable groups are entitled to standard tax deductions (up to 882 minimum monthly calculation indices[1]) on IIT income. In this case, beneficiaries belonging to socially vulnerable groups can submit a corresponding application and supporting documents to the UAPF for recalculation and refund of the IIT withheld. Previously, the deadline for submitting such documents was three years, and some individuals withdrew their IIT in 2021-2022 and, for various reasons, did not have time to do so. On July 15, 2025, amendments and additions were made to the current Tax Code, which extended the statute of limitations established for applications from individuals of certain categories for the return of personal income tax from 3 to 5 years.
The list of individuals eligible for recalculation of taxable income and personal income tax is defined by the current Tax Code of the Republic of Kazakhstan. These include individuals with disabilities of the first, second, or third groups, one of the parents or guardians of children with disabilities, one of the adoptive parents or foster parents of orphans, combat veterans, and other categories. The full list of individuals is provided in paragraphs 2) and 3) of Article 346 of the Tax Code of the Republic of Kazakhstan.
Pension beneficiaries who were not eligible for standard tax deductions when determining their taxable income under the LSPBP must urgently – by December 31, 2025 (inclusive) – contact their nearest UAPF branch office with an application and supporting documents (if the Central Bank of Kazakhstan has information confirming the beneficiary's established disability, the provision of relevant supporting documents is not required) to apply for standard tax deductions for income recalculation and individual income tax reimbursement.
After applying the standard tax deduction, the individual tax deduction will be returned to the beneficiary's individual pension savings account if it was withheld. If the deferred individual tax deduction was chosen, then after January 1, 2026, the obligation to pay it when receiving monthly pension benefits will be cancelled.
The extension of the statute of limitations for certain categories of individuals seeking individual income tax refunds will be in effect until December 31, 2025, inclusive, as the new Tax Code of the Republic of Kazakhstan will come into effect on January 1, 2026, and the statute of limitations will again be three years.
Therefore, everyone who received the LSPBP in 2021-2022 and is eligible for standard tax deductions is advised not to delay and take advantage of this right promptly!
If you have any questions, please contact the Call Center: 1418 (toll-free within Kazakhstan), 8 (727) 356 10 60 (long-distance and international calls).
As a reminder, according to current tax legislation, when using lump sum pension benefit payments (LSPBP) to improve housing conditions or pay for medical treatment, the individual income tax (IIT) can be paid at the contributor's discretion: immediately upon receipt of the LSPBP or deferred until the pension payments are scheduled. Effective January 1, 2024, individuals in socially vulnerable categories are entitled to apply standard tax deductions to their LSPBP income.
The amount of taxable LSPBP income from the UAPF is determined as follows:
The amount of tax deductions specified in the relevant articles of the Tax Code is subtracted from the LSPBP income. The resulting balance is taxable income. For example, if a contributor's income in the form of LSPBP in 2021 was 5,000,000.00 tenge with a tax liability of 500,000.00 tenge (5,000,000.00 * 10%), then applying standard tax deductions of 882 MCI for 2021 in the amount of 2,572,794.00 tenge (882 * 2,917.00 tenge) will result in a downward adjustment of the tax liability.
Therefore, the remaining tax liability (deferred IIT) will be 242,720.60 tenge, calculated as follows:
((5,000,000.00 - 2,572,794.00) * 10%).
If you are already receiving pension benefits from the UAPF and the deferred individual income tax amount has already been fully or partially withheld and transferred to the budget, a refund will be issued based on the tax refund documents submitted to the UAPF, and the refunded personal income tax will be paid, with the remaining debt adjusted to a maximum of 882 MCI.
Remaining tax liabilities as of January 1, 2026, will be cancelled in January 2026 due to the entry into force of the new Tax Code.
Effective January 1, 2026, Tax Code of the Republic of Kazakhstan No. 214-VIII ZRK, dated July 18, 2025, will come into effect. It provides for an exemption from withholding individual income tax on income in the form of pension benefits from the UAPF and lump-sum pension benefit payments for individuals resident in the Republic of Kazakhstan.
All tax liabilities for deferred personal income tax from the LSPBP held by UAPF contributors (recipients) as of January 1, 2026, will be cancelled.
6) For which categories of individuals is the personal income tax exemption abolished starting in 2026, and for which types of pension payments? Is it possible to refund previously withheld personal income tax from the LSPBP if I am not eligible for a benefit?
Under the provisions of the new Tax Code, effective January 1, 2026, the individual income tax will not be withheld from all types of pension benefits, except in cases where the beneficiary is a non-resident of the Republic of Kazakhstan, and will also not be withheld from the LSPBP. This means that pension benefits from the UAPF and lump-sum pension benefit payments to individuals who are residents of the Republic of Kazakhstan will not be subject to the individual income tax.
The provisions of the new Tax Code do not provide for the refund of previously withheld individual income tax, therefore, if the contributor pays the individual income tax in a lump sum, it will not be refunded.
According to the current Tax Code, standard deductions are applied in the calendar year in which the basis for applying these tax deductions arose, exists, or existed.
UAPF is not entitled to apply standard tax deductions to LSPBPs made in 2022 and 2023 because you were not considered disabled at the time you received LSPBP income.
[1] Месячный расчетный показатель
Review of the investment portfolio managed by the National Bank of the Republic of Kazakhstan and the IPM as of October 1, 2025
UAPF JSC (hereinafter referred to as UAPF) presents a report on the management of pension assets by the National Bank of the Republic of Kazakhstan (hereinafter referred to as NBRK) and investment portfolio managers (hereinafter referred to as IPMs) on the website enpf.kz in the section "Statistics and analytics - Investment management of pension assets".
As of October 1, 2025, the total volume of pension assets managed by the NBRK and IPM amounted to 25,716.69 billion tenge. As of this date, UAPF pension assets held in trust by the NBRK, formed through compulsory pension contributions (hereinafter referred to as CPC), compulsory occupational pension contributions (hereinafter referred to as COPC), and voluntary pension contributions (hereinafter referred to as VPC), amounted to approximately 25,047.64 billion tenge. The volume of pension assets formed through employer’s compulsory pension contributions (hereinafter referred to as ECPC), held in trust by the NBRK, amounted to 594.85 billion tenge.
Pension assets under IPM management amounted to over 74.20 billion tenge.
Investment portfolio of pension assets
managed by the National Bank of the Republic of Kazakhstan
The National Bank, as the trustee of the UAPF pension assets, pursues a balanced investment policy: investing in various types of financial instruments across currencies, countries, sectors, and issuers.
The main investment areas for pension assets formed through CPC, COPC, and VPC, as of October 1, 2025, are as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan - 42.08%, bonds of quasi-public companies - 9.33%, bonds of second-tier banks of the Republic of Kazakhstan - 2.66%, shares and depositary receipts of issuers of the Republic of Kazakhstan - 1.95%, microfinance organizations - 1.23%, deposits of the National Bank of the Republic of Kazakhstan - 0.87%.
The investment portfolio broken down by currencies in which financial instruments acquired through CPC, COPC, and VPC are denominated, as of October 1, 2025, looks like this: investments in national currency – 56.75%, in US dollars – 43.25% of the pension asset portfolio.
An analysis of the income received shows that interest income on securities, including deposits and reverse repo transactions, amounted to 1,450.29 billion tenge; income from foreign currency revaluation, excluding assets under external management, amounted to 235.62 billion tenge; income from assets under external management, including exchange rate revaluation, amounted to 661.64 billion tenge; and other income amounted to 5.30 billion tenge. The market revaluation of securities was negative.
Accrued investment income for the last 12 months from October 2024 to September 2025 amounted to approximately 3.11 trillion tenge, with a return of 14.11% for this period, with inflation at 12.90%.
The ECPC's investment portfolio as of October 1, 2025, is as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan – 98.53%, cash in investment accounts – 0.86%, and deposits of the National Bank of the Republic of Kazakhstan – 0.61%.
The ECPC's investment portfolio includes only financial instruments denominated in the national currency.
As of October 1, 2025, the ECPC's return over the past 12 months was 8.44%.
As a reminder, pension savings are long-term investments. Therefore, it is advisable to analyze investment income over a period of at least one year. In certain periods, a decrease in return may be observed due to exchange rate volatility, changes in the market value of financial instruments, and the impact of inflation. Diversification of the investment portfolio, whereby income from some instruments offsets temporary losses from others, ensures the safety and sustainable return of pension savings over the long term. Thus, investment income has shown stable growth over the past three years, with pension asset returns exceeding the inflation rate.
A detailed breakdown of the investment portfolio of financial instruments managed by the National Bank of the Republic of Kazakhstan, including issuers, and an overview of investment activities are available on the official UAPF website. Information on the portfolio structure of pension assets formed through the ECPC is also available on the enpf.kz website.
Investment portfolio managers
The total volume of pension assets under IPM management exceeds 74.20 billion tenge.
As of October 1, 2025, pension assets under the trust management of Alatau City Invest JSC amounted to 13.29 billion tenge.
The company's main investments: government securities of the Ministry of Finance of the Republic of Kazakhstan – 17.78%, Exchange Traded Funds (ETF) units – 16.60%, bonds of second-tier banks of the Republic of Kazakhstan – 15.87%, repo – 13.15%, bonds of quasi-public organizations of the Republic of Kazakhstan – 11.01%, corporate bonds of issuers of the Republic of Kazakhstan – 10.99%, corporate bonds of foreign issuers – 5.99%, microfinance organizations – 5.75%, government securities of foreign states – 2.75%. It should be noted that 75.31% of the portfolio is held in tenge, 23.27% in US dollars, and 1.42% in other currencies.
As of October 1, 2025, the return on UAPF pension assets over the past 12 months, distributed among contributors (beneficiaries), was 11.99%.
A detailed breakdown of the investment portfolio of financial instruments managed by Alatau City Invest JSC, including issuers, is available on the UAPF website.
As of October 1, 2025, pension assets under trust management by Halyk Global Markets JSC amounted to 6.98 billion tenge.
The main investments in the portfolio structure are as follows: reverse repos (up to 90 calendar days) – 42.57%, government securities of the Ministry of Finance of the Republic of Kazakhstan – 16.12%, corporate bonds of foreign issuers – 8.99%, bonds of second-tier banks of the Republic of Kazakhstan – 8.13%, equity instruments of foreign issuers (ETF units) – 7.13%, securities with government status issued by the central governments of foreign states – 5.30%, corporate bonds of organizations of the Republic of Kazakhstan – 4.90%, bonds of quasi-public organizations of the Republic of Kazakhstan – 4.64%.
Investments in national currency accounted for 77.54% of the portfolio, while those in US dollars accounted for 22.46%.
As of October 1, 2025, the return on UAPF pension assets over the past 12 months, distributed to contributor (beneficiary) accounts, was 13.02%.
A detailed breakdown of the investment portfolio of financial instruments managed by Halyk Global Markets JSC, including issuers, is available on the UAPF website.
As of October 1, 2025, UAPF pension assets held in trust by BCC Invest JSC amounted to 8.51 billion tenge.
Main investment areas: bonds of Kazakhstan's second-tier banks – 23.69%, government securities of the Ministry of Finance of the Republic of Kazakhstan – 20.63%, repo – 14.44%, bonds of quasi-public organizations of the Republic of Kazakhstan – 13.04%, corporate bonds of issuers resident in the Republic of Kazakhstan – 13.81%, corporate bonds of foreign issuers – 10.74%.
Investments in national currency accounted for 75.04% of the portfolio, while those in US dollars accounted for 24.96%.
As of October 1, 2025, the return on UAPF pension assets over the past 12 months, distributed to contributors (beneficiaries) accounts, was 13.22%.
A detailed breakdown of the investment portfolio of financial instruments managed by BCC Invest JSC, including issuers, is available on the UAPF website.
As of October 1, 2025, UAPF's pension assets held in trust by Centras Securities JSC amounted to 3.33 billion tenge.
17.40% are invested in corporate bonds of Kazakhstan issuers, 16.20% in bonds of quasi-public organizations of Kazakhstan, 15.73% in bonds of second-tier banks of Kazakhstan, 14.43% in government securities of the Ministry of Finance of Kazakhstan, 13.78% in repos, 3.45% in shares and depositary receipts of issuers resident in Kazakhstan, 3.35% in shares and depositary receipts of foreign issuers, and 3.30% in US government bonds.
Investments in national currency accounted for 68.34% of the portfolio, while investments in US dollars accounted for 31.66%.
As of October 1, 2025, the return on UAPF pension assets over the past 12 months, distributed to contributors (beneficiaries), was 18.19%.
A detailed breakdown of the investment portfolio of financial instruments managed by Centras Securities JSC, including issuers, is available on the UAPF website.
As of October 1, 2025, pension assets under trust management by Halyk Finance, a subsidiary of Halyk Bank of Kazakhstan, amounted to 42.09 billion tenge.
The main investments in the portfolio structure are as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan – 21.39%, reverse repo (up to 90 calendar days) – 21.38%, bonds of second-tier banks of the Republic of Kazakhstan – 9.07%, corporate bonds of foreign issuers – 8.95%, government securities of foreign states – 7.64%, microfinance organizations – 7.50%, Exchange Traded Funds (ETF) units – 6.14%, corporate bonds of issuers of the Republic of Kazakhstan – 7.03%, bonds of quasi-public organizations of the Republic of Kazakhstan – 2.38%, shares and depositary receipts of foreign issuers – 3.80%, shares and depositary receipts of issuers of the Republic of Kazakhstan – 1.92%.
61.62% of the portfolio is invested in instruments in national currency, 38.38% in US dollars. As of October 1, 2025, the return on UAPF pension assets distributed to contributors (beneficiaries) accounts over the past 12 months was 13.81%.
A detailed breakdown of the investment portfolio of financial instruments managed by Halyk Bank of Kazakhstan Subsidiary JSC Halyk Finance, including issuers, is available on the UAPF website.
As a reminder, starting July 1, 2023, contributors may transfer up to 50% of their pension savings through compulsory pension contributions (CPC) and compulsory occupational pension contributions (COPC), ignoring the minimum adequacy threshold, to an investment portfolio manager (IPM), choosing such a company independently. Contributors with voluntary pension savings may transfer 100% of them to an IPM.
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)
Accrued investment income of Kazakhstanis for 12 months
reached 2.74 trillion KZT
Over the past 12 months, as of September 1, 2025, the accrued investment income of Kazakhstanis reached 2.74 trillion KZT. The return on pension assets of the UAPF at the expense of MPC, MPPC, VPC amounted to 12.60% with inflation of 12.20%. The yield on the MPCE for the last 12 months as of 01.09.2025 is 7.64%.
At the same time, the net investment income of Kazakhstanis for 8 months of this year amounted to 1,270.99 billion KZT. Of these, 1,265.72 billion KZT accounted for income from investing pension savings at the expense of mandatory pension contributions (MPC), mandatory professional pension contributions (MPPC), voluntary pension contributions (VPC), depositors and recipients credited to individual pension accounts (IPA). Net investment income from investing pension savings at the expense of mandatory pension contributions of the employer (MPCE) credited to conditional pension accounts (CPA) of Kazakhstanis amounted to 5.26 billion KZT.
The accumulated investment return in the long term exceeds inflation. Since the foundation of the funded pension system in 1998, as of September 1, 2025, the cumulative return amounted to 979.95%, with inflation for the entire period of 827.78%.
As a reminder, investment income is generated by remuneration on financial instruments (securities, deposits and other transactions), on assets under external management, as well as through market and currency revaluation of financial instruments. To ensure the safety of pension savings and stable profitability, the NBRK and private investment portfolio managers (IPM) carry out constant diversification of the investment portfolio – they place assets in various financial instruments and currencies, regularly adjusting its structure depending on market conditions.
The entire system of investment management and accounting of pension assets is transparent: each depositor has the opportunity to see his investment income in his personal account on the www.enpf.kz website or in the mobile application.
Information on the investment management of pension assets of the UAPF and on the financial instruments in which the pension assets of the UAPF are placed is published on the www.enpf.kz website in the section “Statistics and Analytics/Investment Management of Pension Assets”.
You can also get a lot of interesting and useful information on the YouTube channel of UAPF.
The UAPF was established on August 22, 2013 on the basis of NPF “GNPF” JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution “State Property and Privatization Committee” 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 mandatory pension contributions, mandatory pension contributions of the employer, mandatory professional pension contributions, voluntary pension contributions, as well as crediting and accounting for voluntary pension contributions formed at the expense of the unclaimed amount of guarantee compensation for the guaranteed deposit, transferred by the organization carrying out mandatory deposit insurance, in accordance with the Law of the Republic of Kazakhstan “Concerning Compulsory Insurance of Deposits Placed in Second-Tier Banks of the Republic of Kazakhstan” ensures the implementation of pension payments. The Fund also carries out accounting of target assets and target claims, accounting and crediting of targeted savings (TS) to target savings accounts, payments of TS to their recipient to bank accounts, accounting of TS returns in the manner determined by the Government of the Republic of Kazakhstan within the framework of the program “National Fund for Children”. (More details on www.enpf.kz).
Young Kazakhstanis used USD 19.04 million within the framework of the National Fund for Children program
Since February 1, 2024 (as of September 1, 2025), 139,774 applications worth 19.04 million US dollars have been executed (transferred to authorized operators for crediting to applicants' bank accounts). Of these, 87,841 applications worth 12.25 million US dollars were executed for the purpose of improving housing conditions, and 51,933 applications worth 6.79 million US dollars were executed for paying for education. Let us remind you that the recipient of target savings (TS) has the right to use the entire amount or part of it, the remainder of the unused amount remains in the target savings account (TSA).
The most popular sub-goals for using funds to improve housing conditions were: replenishment of a contribution to housing construction savings for further accumulation (85,735 applications completed for a total of 11.98 million US dollars), making a down payment to obtain a mortgage loan for the purchase of housing - 700 applications for a total of 92.13 thousand US dollars, acquisition of housing in ownership through civil law transactions (final settlement) - 514 applications for a total of 62.27 thousand US dollars.
The most popular sub-goals in the context of paying for education were: payment for educational services of educational organizations located in the territory of the Republic of Kazakhstan, in installments (for each academic period or academic year) or in full at one time (for the entire period of study) (45,901 applications for an amount of about 6.08 million US dollars were completed), replenishment of an educational savings deposit under an agreement on an educational savings deposit (4,309 applications for an amount of more than 499.07 thousand US dollars were completed), payment for educational services of foreign educational organizations in installments (for each academic period or academic year) or in full at one time (for the entire period of study) (1,411 applications for an amount of more than 174.03 thousand US dollars were completed).
Detailed information on payments of target savings for the purpose of improving housing conditions and (or) paying for education in the context of authorized operators and regions can be found on the website enpf.kz.
Let us recall that according to the National Fund for Children program, 50% of the investment income of the National Fund of the Republic of Kazakhstan is distributed once a year among children who are citizens of the Republic of Kazakhstan, who were born in 2006 and later. For 2023, all recipients of the TS were credited with 100.52 US dollars, for 2024 - 129.38 US dollars. Children who received the first funds from the National Fund in 2023, with the exception of persons born in 2006, were credited with investment income in the amount of 3.04 US dollars this year. As a result, the target savings of a child born in 2006 amount to 100.52 US dollars, and those born in 2007 - 232.94 US dollars.
Adult citizens must independently obtain information about their TS through their personal account on the UAPF or e-government Internet resources, and then contact an authorized operator to open a bank account in US dollars and submit an online application for TS payment to improve housing conditions and (or) pay for education.
You can familiarize yourself with the terms of the program, get instructions, and answers to your questions on the website kids.enpf.kz and on the YouTube channel of the UAPF. We also note that a video instruction on the implementation of the National Fund for Children program, the algorithm of actions before and after the child reaches adulthood is posted on the БЖЗҚ ЕНПФ YouTube channel of the UAPF 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)
98% of UAPF services are provided in digital format
In recent years, there has been a significant increase in the interest of depositors in the services provided by UAPF in digital format. An important aspect is the availability of such services 24/7. Let us remind you that all pension accounts are opened in UAPF automatically upon receipt of the first contribution. Targeted requirements and target savings are also automatically accrued to participants in the National Fund for Children program.
In the period from 01.01.2025 to 31.07.2025, the Fund provided 27.9 million services to the population. Of their total number, 15.6 million were provided electronically, 11.4 million automatically. Thus, the share of services provided in automatic, electronic and remote formats amounted to 98.0% of the total. In person, 565.8 thousand services were provided, including 555.1 thousand services directly in the Fund's offices.
In total, during the reporting period, the total number of individual pension savings accounts (IPSA) opened automatically for all types of pension contributions, as well as notional pension savings accounts (NPSA, opened as a result of the transfer of ECPC by the employer) and target savings accounts (TSA, opened within the framework of the National Fund for Children program) amounted to 1.0 million accounts.
The most popular service is still receiving statements from individual pension accounts, notional pension accounts (NPSAs), and target savings accounts (TSAs). Since the beginning of the year, 17.2 million statements have been issued from IPSAs, NPSAs, and TSAs, of which 14.3 million were issued electronically and 2.4 million were issued automatically. UAPF reminds that receiving information about the status of accounts through your personal account is the most convenient, reliable, and efficient way to control your pension savings. The service operates online around the clock (24/7), which allows you to receive up-to-date information at any time and from anywhere in the world. Also, information about the status of accounts is available not only through your personal account on the UAPF website, but also through the egov.kz portal or the e-government mobile application. This provides additional convenience for users who prefer to interact with government services through unified platforms. UAPF notes that, starting in 2025, the annual automatic mailing of statements by mail has ceased. However, it is still possible to receive information about the status of pension savings by mail by submitting a corresponding request to UAPF JSC.
In addition to receiving a statement in their personal account on the website and in the mobile application, contributors (beneficiaries) have the opportunity to use such services as making changes and additions to their details, receiving a certificate of account availability, filing an application for the appointment of pension benefoits in connection with the establishment of disability of group 1 or 2 indefinitely or for voluntary pension contributions, tracking the status of an application for pension benefit, transferring part of the savings to the investment portfolio manager (IPM), predicting the future pension using a pension calculator, etc. 24/7 anywhere in the world.
82.1 thousand applications were accepted to change the details for January-July 2025, of which 77.6 thousand were in the Fund's offices.
When applying for a particular service to UAPF specialists, depositors, as a rule, receive additional consultations and advice on the formation of savings. As part of the information and outreach work, 29,613 road presentations were held, attended by 608.2 thousand people. The number of materials posted in the media based on UAPF messages amounted to 25.9 thousand.
The number of inquiries received from contributors and beneficiaries via feedback channels amounted to 314.9 thousand.
We remind you that any company can apply for a presentation and consultations on the funded pension system with a visit to the office, for which you just need to call the call center at 1418 or contact through the Fund's website or mobile application.
UAPF consulting services can be obtained through instant messengers (chat bot in WhatsАpp and Viber at +7 777 000 14 18), the call center at 1418 (call within Kazakhstan is free), on the corporate website enpf.kz, as well as on the official UAPF pages on social networks Instagram, Facebook, VKontakte, Telegram, Odnoklassniki.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz)
The deadline for recalculating taxable income and refunding individual income tax has been extended
Who and how can exercise this right
Current questions about the UAPF
As is known, when using lump-sum pension benefit payments (LSPBP) for housing or medical treatment in accordance with the current tax legislation, it is possible to pay individual income tax (IIT) at the depositor's choice: immediately upon receipt of LSPBP or deferred until retirement. At the same time, from January 1, 2024, persons belonging to socially vulnerable categories have the right to standard tax deductions (up to 882 MCI[1]) from income in the form of LSPBP. However, many people, when withdrawing LSPBP, paid IIT immediately upon making the payment. In this case, recipients belonging to socially vulnerable groups can apply with a corresponding application and supporting documents to the UAPF for recalculation and return of the withheld IIT. Previously, the deadline for filing such documents was three years and those who withdrew LSPBP in 2021-2022 for various reasons did not have time to do this. On July 15, 2025, amendments and additions were made to the current Tax Code, which extended the limitation period established for such appeals by individuals from 3 to 5 years.
The list of individuals entitled to recalculate taxable income and IIT is determined by the current Tax Code of the Republic of Kazakhstan. These are persons with disabilities of the first, second or third groups, one of the parents or guardians of children with disabilities, one of the adoptive parents, foster parents of orphans, veterans of military events and other categories. The full list of persons is specified in Article 346 of the Tax Code of the Republic of Kazakhstan.
Recipients of pension benefits who, when determining taxable income under the LSPBP, standard tax deductions, if they have the right to apply them, were not applied, must urgently contact the nearest branch of the UAPF with an application and supporting documents for the application of standard tax deductions for recalculation of income and reimbursement of IIT
Once the standard tax deduction is applied, the IIT will be returned to the beneficiary's IPSA if it was withheld. If the deferred IIT was chosen, it will not be payable when the monthly pension benefits are received.
These changes will be valid until December 31, 2025 inclusive, since the new Tax Code of the Republic of Kazakhstan comes into force on January 1, 2026 and the limitation period will again be 3 years.
Therefore, we recommend that all contributors and beneficiaries who made LSPBP in 2021-2022 and have the right to apply standard tax deductions do not delay and use this right on time!
If you have any questions, you can contact the Call Center: 8 (727) 356 10 60 (long-distance and international calls), 1418 (free in Kazakhstan).
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)
[1] Monthly calculation indicator
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ANNOUNCEMENT |
From January 1, 2026, pension benefits from UAPF will be exempt from IIT
On July 18, 2025, the head of state signed a new Tax Code, which provides for the exemption from January 1, 2026 of income in the form of pension payments, lump sum pension benefit payments for housing/treatment (LSPBP) from UAPF from individual income tax (IIT), with the exception of pension benefits from UAPF made to non-residents of the Republic of Kazakhstan .
How is it now?
According to the current Tax Code, pension payments, LSPBP from UAPF are considered income subject to IIT at a rate of 10% at source. That is, pension contributions are transferred to individual pension savings accounts before taxation. IIT is withheld upon payments. IIT is withheld collectively for all types of pension benefits formed from compulsory pension contributions (CPC), compulsory occupational pension contributions (COPC), voluntary pension contributions (VPC). In this case, the amounts of adjustments and tax deductions are taken into account.
When using lump-sum pension benefit payments for housing/medical treatment, IIT is also withheld. In this case, there are two ways to withhold it at the beneficiary's choice: immediately upon receipt of LSPBP or with a delay until retirement.
Until January 1, 2026, the calculation, withholding and payment of IIT from pension payments and LSPBP from UAPF will be carried out in the current mode.
What will happen from January 1, 2026?
IIT will not be withheld from all types of pension benefits, except in cases where the beneficiary is a non-resident of the Republic of Kazakhstan, and will not be withheld from the LSPBP.
The changes also include the cancellation of accrued obligations to pay IIT from the LSPBP for housing/medical treatment deferred until retirement from January 1, 2026, but do not imply a refund of taxes previously paid to the budget.
What else will change?
The changes include the abolition of tax deductions on voluntary pension contributions made in one's own favor, from January 1, 2026, applied in the amounts established by the Tax Code to income subject to taxation at the source of payment.
At the same time, the rule will remain that voluntary pension contributions transferred by a tax agent to the UAPF in favor of an employee are not an individual's income (and therefore are not subject to IIT), and for the employer, such expenses are deductible when calculating corporate income tax. That is, in this case, both the employee and the employer receive tax 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)
ANNOUNCEMENT
Pension savings of Kazakhstanis exceeded 24 trillion tenge
The volume of pension savings of Kazakhstanis as of 01.07.2025 exceeded KZT24 trillion, showing growth over the year by more than KZT4 trillion or 20.9%.
Pension savings due to compulsory pension contributions (CPC) as of July 1, 2025 reached KZT22.85 trillion, having increased by 18.7% over 12 months.
The amount of pension savings due to compulsory occupational pension contributions (COPC) amounted to KZT683.10 billion, having increased by 10.2% over 12 months.
The most significant annual increase was demonstrated by savings on voluntary pension contributions (VPC), having increased by 35% over 12 months and amounted to KZT8.73 billion.
As of July 1, 2025, the amount of pension savings from employer’s compulsory pension contributions (ECPC), received from January 1, 2024, into the pension accounts of contributors (beneficiaries), amounted to KZT463.98 billion.
Incomes
The growth of savings is provided by the receipt of pension contributions, as well as investment income. Since the beginning of the year, KZT1,575.45 billion of contributions have been received into individual and conditional pension accounts of depositors, which is 19.8% (or KZT260.05 billion) more than the same period last year.
Since the beginning of the year as of 01.07.2025, KZT1,294.56 billion have been received into individual pension savings accounts (IPSA) for CPC accounting (compared to the same period last year, the CPC volume increased by 11.7%), COPC - KZT67.87 billion (an increase of 19.8%), VPC - KZT1.38 billion. Contributions from ECPC for the first 6 months of 2025 amounted to KZT211.65 billion.
Net investment income credited to contributors' accounts since the beginning of the year amounted to approximately KZT350.7 billion, offsetting the temporary decline in income in previous months.
Benefits and transfers
Payments for all types of contributions and transfers to insurance organizations from the UAPF for 6 months of 2025 amounted to KZT782.87 billion, which exceeds the volume of payments of last year by KZT325.24 billion (or 71.1%).
Most of the payments are lump-sum pension benefit payments (LPP) for improving housing conditions and medical treatment - KZT451.58 billion.
Age-related benefit payments for 6 months amounted to KZT118.79 billion.
From the beginning of the year to 01.07.2025, inheritance payments were also made - KZT34.58 billion, payments in connection with leaving for permanent residence outside the Republic of Kazakhstan - KZT19.18 billion, funeral payments - KZT5.36 billion, payments to persons with disabilities - KZT1.58 billion. An amount of KZT151.78 billion was transferred to insurance organizations
All up-to-date information on statistical data on pension assets is posted on the website enpf.kz in the section "Statistics and Analytics".
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)
Чем важен коэффициент замещения дохода и его роль в пенсионной системе
Международные организации одним из важных показателей адекватности пенсии выделяют коэффициент замещения дохода (КЗД). Он отражает соотношение между пенсионными выплатами и заработной платой работника до выхода на пенсию, т.е. насколько его пенсионный доход замещает трудовой доход.
При этом следует отметить, что КЗД - это целевой ориентир, его величина индивидуальна для каждого работника и зависит от его трудового дохода и стажа, регулярности и полноты отчисления пенсионных взносов на свой накопительный пенсионный счет.
Концепцией дальнейшей модернизации пенсионной системы Республики Казахстан до 2030 года предусмотрено сохранение КЗД совокупными пенсионными выплатами на уровне не менее 40% утраченного заработка (стандарт Международной организации труда) при стаже участия в пенсионной системе не менее 35 лет и регулярности отчислений 12 раз в год.
Коэффициент замещения у вкладчиков ЕНПФ, которые достигли пенсионного возраста в 2024 году и стали получать пенсионные выплаты (солидарную и базовую пенсию от государства, а также накопительную пенсию из ЕНПФ), в совокупности по всем видам пенсий составил более 41% от среднего уровня зарплат.
В перспективе, как это происходит в развитых странах, все большую часть в совокупной пенсии будет составлять накопительная пенсия. Казахстанская накопительная пенсионная система пока еще не прошла свой полный цикл, который составляет около 40 лет – полный период трудовой деятельности человека. Поэтому те, кто выходит на пенсию еще не имеют достаточного стажа накоплений. Кроме того, как известно, в первые годы внедрения накопительной системы характеризовались невысокими доходами, нерегулярностью и неполнотой взносов. Поэтому более высокая доля солидарной пенсии пока сохраняется, но постепенно уменьшается.
В будущем, согласно актуарным оценкам, коэффициент замещения за счет накопительной пенсии у вкладчиков, которые начали свой трудовой путь в 2024 году (в возрасте 22 года) и выйдут на пенсию в 2065 году, составит от 35% и выше от их заработка. При этом накопительная пенсия будет формироваться за счет обязательных пенсионных взносов работников (ОПВ) и работодателей (ОПВР). Кроме того, граждане будут получать базовую пенсию, размер которой также зависит от стажа отчислений ОПВ в ЕНПФ. Права на солидарную пенсию у таких работников уже не будет.
В настоящее время расчет коэффициента замещения среднемесячного дохода для каждого вкладчика осуществляется ЕНПФ на основании сведений из государственных информационных систем, в пределах, предусмотренных законодательством.
Как рассчитывается КЗД в целях использования единовременных пенсионных выплат (ЕПВ) на улучшение жилищных условий и/или лечение
Следует отметить, что лица, имеющие пенсионные накопления в ЕНПФ, имеют право на единовременные пенсионные выплаты (ЕПВ) при соблюдении одного из следующих условий:
Законодательством алгоритм расчета КЗД определен следующим образом:
Ежемесячная пенсия (базовая + солидарная на дату назначения) делится на среднемесячный доход получателя (СДП) за последние 5 лет (до выхода на пенсию). Величина СДП рассчитывается на основе данных о его фактических обязательных пенсионных взносах (ОПВ) за 5 лет, скорректированных с учетом инфляции, и ограничена среднемесячным доходом по республике.
Для получателей пенсионных выплат за выслугу лет, которым назначены пенсионные выплаты в соответствии с Социальным кодексом, и судей в отставке, которым выплачивается ежемесячное пожизненное содержание, коэффициент замещения СДП принимается равным 40%.
Обратим внимание, что для расчета КЗД учитываются только базовая и солидарная пенсии, которые должны обеспечить пенсионеру пожизненный доход не ниже 40%. При достижения такого уровня КЗД пенсионер может использовать на жилье или лечение до 50% своих накоплений.
Если человек заключил договор пенсионного аннуитета, то есть получает из страховой компании пожизненную пенсионную выплату не менее 70% от величины прожиточного минимума, установленной на текущий финансовый год, он может использовать на жилье или лечение все накопления на своем пенсионном счете в ЕНПФ.
Понимание значения коэффициента замещения помогает гражданам планировать свою финансовую стабильность за счет пенсионных выплат. С каждым годом роль накопительной пенсии становится всё важнее. Важно, чтобы государственная политика и пенсионная система развивались в направлении обеспечения адекватной пенсии для всех граждан.
ЕНПФ создан 22 августа 2013 года на базе АО «НПФ «ГНПФ». Учредителем и акционером ЕНПФ является Правительство Республики Казахстан в лице ГУ «Комитет государственного имущества и приватизации» Министерства финансов Республики Казахстан. Доверительное управление пенсионными активами ЕНПФ осуществляет Национальный Банк Республики Казахстан. В соответствии с пенсионным законодательством ЕНПФ осуществляет привлечение обязательных пенсионных взносов, обязательных пенсионных взносов работодателя, обязательных профессиональных пенсионных взносов, добровольных пенсионных взносов, а также зачисление и учет добровольных пенсионных взносов, сформированных за счет невостребованной суммы гарантийного возмещения по гарантируемому депозиту, перечисленной организацией, осуществляющей обязательное гарантирование депозитов, в соответствии с Законом Республики Казахстан "Об обязательном гарантировании депозитов, размещенных в банках второго уровня Республики Казахстан", обеспечивает осуществление пенсионных выплат. Также Фонд осуществляет учет целевых активов и целевых требований, учет и зачисление целевых накоплений (ЦН) на целевые накопительные счета, выплат ЦН их получателю на банковские счета, учет возвратов ЦН в порядке, определенном Правительством Республики Казахстан в рамках программы «Национальный фонд – детям». (Подробнее на www.enpf.kz).
[1] расчет осуществляется согласно Методике определения КЗД, утвержденной Постановлением Правительства Республики Казахстан от 30 июня 2023 года № 521 (https://adilet.zan.kz/rus/docs/P2300000521)