About the Unified Accumulative Pension Fund

The Unified Accumulative Pension Fund (UAPF) was established on August 22, 2013, on the basis of the “GNPF” Accumulative Pension Fund Joint Stock Company. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan, represented by the State Institution “Committee for State Property and Privatization” of the Ministry of Finance of the Republic of Kazakhstan. The pension assets of the UAPF are managed in trust by the National Bank of the Republic of Kazakhstan.

The UAPF receives pension contributions, makes pension payments, maintains individual records of pension savings and payments of contributors (recipients), and provides information on the status of pension savings.

Currently, the pension asset management system includes not only the National Bank of the Republic of Kazakhstan but also investment portfolio managers (IPMs). Since January 1, 2026, IPMs have been carrying out the trust management of pension assets through investment portfolios formed based on such criteria as risk level, return and investment period.

As of July 1, 2026, the total amount of pension assets managed by the National Bank of the Republic of Kazakhstan and investment portfolio managers amounted to KZT 28.08 trillion. Of this amount, UAPF pension assets formed from mandatory pension contributions (MPCs), mandatory occupational pension contributions (MOPCs) and voluntary pension contributions (VPCs), and held under the trust management of the National Bank, amounted to approximately KZT 26.79 trillion.

As of January 1, 2026, the amount of pension savings held by citizens of Kazakhstan in the UAPF exceeded KZT 25.97 trillion. During 2025, the amount of pension savings increased by KZT 3.18 trillion, or 13.9%.

Pension savings of contributors are also growing as a result of investment activities involving pension assets. As of July 1, 2026, the net investment income accumulated since 2014 exceeded KZT 11.15 trillion. Taking into account pension payments made, its share of total pension savings amounted to 41.4%.

In order to increase the transparency of investment activities, in 2026 the UAPF launched the unified internet platform invest.enpf.kz for the investment management of pension assets. The platform provides information about investment portfolio managers, their investment strategies and the results of pension asset management.

In accordance with the requirements established by law, contributors may transfer part of their pension savings to the trust management of an investment portfolio manager. It is possible to transfer up to 50% of savings formed from mandatory and mandatory occupational pension contributions, and up to 100% of savings formed from voluntary pension contributions to an investment portfolio manager.

Full information about the UAPF, current pension savings indicators and investment activities is available on the Fund’s official website: www.enpf.kz.