Trending questions about the UAPF
1. Who is entitled to receive scheduled pension benefits from the UAPF?
In accordance with the Social Code of the Republic of Kazakhstan, monthly pension benefits derived from mandatory pension contributions and/or mandatory occupational pension contributions (hereinafter referred to as MOPC) are made from the Unified Accumulative Pension Fund (UAPF) to individuals with pension savings in the UAPF who meet the following criteria:
- They have reached the retirement age (63 years for men; 61 years for women—with the age for women increasing by 6 months annually, starting from 2028, until it reaches 63 years in 2031).
- They have reached the age of 55 and have had mandatory occupational pension contributions paid on their behalf for a total of at least 84 calendar months by the time they apply for pension benefits, provided they have ceased employment in hazardous working conditions (in roles specified in the list of industries, jobs, and professions approved by the authorized state body).
- They have been granted a Group 1 or Group 2 disability status on an indefinite basis.
Pension benefits derived from voluntary pension contributions may begin before the standard retirement age—specifically, from the age of 50. Furthermore, such benefits are available to individuals with disabilities, regardless of the disability group or the duration for which the disability status has been assigned. In these cases, the payment schedule is determined by the contributor themselves.
2.How scheduled benefits are calculated?
Scheduled benefits are calculated as follows: for the first year of receiving benefits, the total amount of pension savings is multiplied by a payout rate of 6.5% and then divided by 12. In subsequent years, the monthly pension benefit amount is increased by an indexation rate of 5%. Furthermore, the monthly pension benefit from the UAPF (Unified Accumulative Pension Fund) must be at least 70% of the subsistence minimum (hereinafter referred to as the "SM") established for the relevant fiscal year by the Law on the Republican Budget.
For certain categories of beneficiaries—specifically, individuals with a Group 1 or 2 disability (assigned on an indefinite basis) and those who have worked in hazardous or dangerous occupations—the Methodology provides for adjustment coefficients that increase the monthly pension benefit amount, provided that their savings include at least 60 months of MOPC. If an individual meets more than one of these criteria, the adjustment coefficient with the highest value is applied.
When calculating and issuing pension benefits to individuals who have reached the age of 55 and for whom MOPC have been paid for a total of at least 84 months:
- the requirement that the pension benefit must be at least 70% of the SM does not apply;
- the adjustment coefficients do not apply;
- any remaining balance in an individual pension savings account that is less than 70% of the SM cannot be paid out in addition to the regular monthly pension benefit.
It should be noted that pension benefits from the UAPF are paid until the pension savings are exhausted.
If, as of the date of a payment from the UAPF, the total amount of pension savings does not exceed twelve times the minimum pension—as established by the law on the republican budget for the relevant fiscal year—the benefit is paid as a single lump sum.
3. Where and when should one apply for the payout of pension savings from the UAPF upon reaching retirement age?
To receive pension benefits from the Unified Accumulative Pension Fund based on mandatory pension contributions upon reaching retirement age, as well as to obtain the basic and PAYG pensions from the state budget, individuals must submit an application in a timely manner to the "Government for Citizens" State Corporation (Public Service Center — PSC) at their place of residence. This may be done up to 10 days before reaching retirement age. All types of age-based pension benefits commence from the date of application. The date of application is defined as the day the application and required documents are registered at the PSC, provided the individual has already reached retirement age; if the application is submitted earlier, the date of reaching retirement age is considered the date of application. Timely submission is particularly important for receiving state-funded pension benefits, which require a verification of the individual's employment history based on the documents provided. State-funded pension benefits are made for life, while benefits from the UAPF continue until the individual's pension savings are exhausted.
Please note that individuals who have reached the age of fifty or who have a disability may apply to the UAPF to receive benefits derived from voluntary pension contributions (VPCs). Such applications can be submitted via the user's personal account on the UAPF website, through the UAPF mobile app, or in person at a UAPF office.
4. In what cases are pension benefits funded by voluntary pension contributions granted automatically?
In accordance with amendments to the Social Code of the Republic of Kazakhstan—which provide for the disbursement of pension benefits funded by Voluntary Pension Contributions (VPC) according to the procedures and terms defined in the VPC-based pension provision agreement and the pension rules of UAPF—a proactive (application-free) procedure for VPC-based pension benefits will be introduced starting in March 2026. This applies to individuals who have reached retirement age and hold VPC-based pension savings in the UAPF, but who have not previously applied to the UAPF for such benefits (e.g., upon reaching the age of 50 or due to a disability).
The proactive procedure for VPC-based pension benefits (where applicable) entails:
The disbursement of VPC-based funds as part of a proactive service, based on an annual reconciliation with the State Corporation to verify whether the individuals in question are already receiving age-based state pensions and/or the state basic pension benefit, as recorded in the information system of the authorized body for social protection.
5. Where should one apply to receive a payout of pension savings in the event of being granted a permanent disability status (Group 1 or 2)?
To claim a pension benefit due to being granted a permanent disability status (Group I or II), you must contact a UAPF branch, or use your personal account on the UAPF website (enpf.kz) or the UAPF mobile app, authenticated with an electronic digital signature.
Please note that the UAPF offers on-site service for individuals with a permanent Group I or II disability. This process includes an initial consultation to determine whether the required services can be provided remotely, without the need for an in-person visit.
6. Where can I find the list of documents required to apply for pension benefits from the UAPF?
The website enpf.kz, under the "Services – Pension Benefits" section, provides a list of required documents—varying based on the type of pension benefit and the submission method—along with formatting requirements, application forms, sample completed forms, and a template for a power of attorney. Additionally, the "Online Services" section offers a tool for the preliminary review of documents intended for UAPF pension benefits (the service is titled "Preliminary Review of Pension Benefit Documents": https://www.enpf.kz/ru/elektronnye-servisy/checkdoc.php).
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 mandatory pension contributions, employer’s mandatory pension contributions, mandatory 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)
In January-September 2026, according to operational data, retail trade turnover increased by 5.7% compared to the corresponding period of the previous year and amounted to 524.8 billion tenge.
In the republican volume of retail turnover, the Abay region occupies the 11th place, the share of retail turnover in the republican volume was 2.6%.
The main volume of retail trade was provided by individuals trading in the markets and carrying out individual trading activities. Their trade turnover amounted to 60.2% of the retail turnover of the region and increased by 9.9% compared to January-September 2025.
The volume of trading enterprises increased by 19.4% compared to the corresponding period last year and amounted to 39.8% of the retail turnover of the region.
In the total volume of retail trade, 65.8% are non-food products, 34.2% are food products.
The largest volume of sales falls on the city of Semey –397.8 billion tenge, or 75.8% of the turnover of the region. Ayagoz district accounts for 6.3%, Zharma district – 4.7%, Urzhar district – 2.8%, Borodulikha district - 1.9%. The share of other regions ranges from 2.2% (Kurchatov) to 1% (Abay district) , 0.8% (Kokpekti district), 1.6% (Beskaragai district) , 1.2% (Makanchy district), 1.7% (Aksuat district).
The volume of wholesale trade in January-September 2026 amounted to 328.5 billion tenge, or 104.9 % compared to the corresponding period of the previous year. In the structure of wholesale trade, non-food products and industrial and technical products account for 60.6%, food products – 39.4%.
Methodological explanations
Retail trade - business activity for the sale to the buyer of goods intended for personal, family, home or other use not related to business activities.
Wholesale trade - entrepreneurial activity for the sale of goods intended for subsequent sale or other purposes not related to personal, family, household and other similar use.
www.stat.gov.kz/region/abay/spreadsheets/domestictrade statistics/
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Executive: Head of the department of trade and services statistics: Tolegenova G.T. Теl. +7 (7222) 362612 |
Address: 180000, c.Semey st.Mangilik el, 25 |
© Bureau of National Statistics of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan
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.
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 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 a reminder, the UAPF has launched invest.enpf.kz—a unified online information platform for the investment management of citizens' pension assets—which consolidates all key information regarding investment portfolio management (IPM) into a single digital space and ensures a systematic approach to providing data on investment activities.
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] less funds in pension contribution and benefit accounts
[2] As of January 1, 2026, UAPF JSC no longer accepts applications for the transfer of pension savings to Halyk Global Markets JSC, following a notification received from Halyk Global Markets JSC regarding the termination of the trust management agreement effective from 2027.
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.
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 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 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)
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.
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. Who manages pension assets?
The investment of pension assets is managed by the National Bank of the Republic of Kazakhstan (NBRK) and, since 2021, by licensed investment portfolio managers (IPMs) that meet the requirements of the authorized body. The primary objective of this fiduciary management of pension savings is to invest in various financial instruments and generate income. Pension asset managers—both the NBRK and IPMs—maintain their own investment strategies and independently determine the structure of their investment portfolios within the framework of their investment declarations.
The current IPM registry includes six private companies to which Kazakhstanis can entrust the management of their pension savings: Alatau City Invest JSC, BCC Invest JSC, Centras Securities JSC, Halyk Finance JSC, Halyk Global Markets JSC, and Tansar Capital JSC. (Note: Halyk Global Markets JSC has notified the Unified Accumulative Pension Fund [UAPF] of the termination of its fiduciary management agreement effective 2027; consequently, as of January 1, 2026, the Fund is no longer accepting applications to transfer pension savings to this company.)
Information regarding IPMs and their investment declarations can be found on the website www.enpf.kz under the "Services" section—specifically the "Registry of Investment Portfolio Managers"—as well as on the online platform invest.enpf.kz.
All UAPF contributors will have the option to transfer up to 100% of their accumulated savings to private investment portfolio managers (IPMs) for management. These provisions came into effect on September 7, 2026.
Information regarding IPMs and their investment declarations is available on the website www.enpf.kz under the "Services" – "Register of Investment Portfolio Managers" section, as well as via the online platform invest.enpf.kz.
In the near future, a single IPM will be able to offer contributors up to three types of investment portfolios (conservative, moderate, and aggressive), differing in terms of risk level, expected return, and investment horizon.
The procedure for structuring investment portfolios of pension assets will be determined by the authorized body responsible for the regulation, control, and supervision of the financial market and financial organizations.
3. Is it possible to distribute savings among several management companies?
Contributors may select one or more Investment Portfolio Managers (IPMs). To enhance public awareness, the UAPF has launched a unified online information platform: invest.enpf.kz. This modern digital resource enables contributors to compare data on pension asset portfolios managed by various entities—specifically the National Bank of the Republic of Kazakhstan (NBRK) and IPMs—all in one place. Contributors gain access to tools for independently evaluating investment portfolios and selecting a manager and investment strategy tailored to their specific goals and expectations. Furthermore, the invest.enpf.kz platform allows contributors not only to review IPM investment declarations and analyze financial performance but also to access information regarding any administrative measures, sanctions, or enforcement actions taken against an IPM by the regulator (the ARDFM).
4. How the transfer of savings from the UAPF to an asset management company takes place?
To transfer pension savings to trust management, an account holder must select an Investment Portfolio Manager (IPM) and then submit an application using the prescribed form. This can be done via the personal account area on the enpf.kz website or the invest.enpf.kz online platform using an electronic digital signature, or at any UAPF branch.
Within the personal account area, the account holder can, among other things:
The status of an application to transfer pension savings to trust management can be tracked in the personal account area on the website or via the UAPF mobile app.
The processes for submitting applications for transfer to an IPM and their subsequent processing by the UAPF are fully automated. The UAPF transfers pension assets to IPM trust management within the timeframes established by regulatory legal acts. However, transferring pension savings from one IPM to another, or returning them to NBRK management, is permitted only after at least one year has elapsed since the initial transfer.
The UAPF serves as the central record-keeping and information hub for all contributors and acts as the operator of their individual pension savings accounts, regardless of which entity manages the assets (the National Bank of the Republic of Kazakhstan and/or an Investment Portfolio Manager (IPM) selected by the contributor).
The UAPF provides accessible services related to pension asset management, offering 24/7 access to statements that fully reflect citizens' accumulated savings and earned investment income via the personal account section of the enpf.kz website or the UAPF mobile app.
Information regarding the investment activities of each manager is continuously updated on the enpf.kz website under the "Statistics and Analytics" section—specifically, "Investment Management of Pension Assets."
Additionally, a dedicated online platform (invest.enpf.kz) operates for UAPF contributors; this modern digital resource enables users to compare the asset management performance of all managers (the National Bank of the Republic of Kazakhstan and IPMs). Invest.enpf.kz provides access to return-on-investment data, allows for the comparison of asset managers and their portfolios over selected timeframes, and facilitates informed investment decision-making.
On September 7, 2026, amendments to the Social Code of the Republic of Kazakhstan came into force, expanding the options for contributors to manage their pension savings[1]. According to these amendments, the amount of pension savings transferred to a private investment portfolio manager (IPM) for trust management can now be up to 100% of the funds available in the contributor's (beneficiary's) individual pension savings account, including compulsory pension contributions (CPC), compulsory occupational pension contributions (COPC), and voluntary pension contributions (VPC).
At this, CPC and VPC contributors, as well as individuals for whom COPC and VPC contributions are transferred, can independently determine the amount of their savings transferred to trust management, select one or more IPMs, and one or more investment portfolios in accordance with their financial goals.
Pursuant to with the law, IPMs can create up to three investment portfolios: conservative, moderate, and high-risk. These portfolios vary in risk level, expected return, and investment terms. The ability to choose different investment portfolios is enshrined in Article 37-1 of the Social Code of the Republic of Kazakhstan. Requirements for their formation are determined by the authorized body for regulation, control, and supervision of the financial market and financial organizations.
Full information on the procedure for transferring pension savings to investment portfolio trust managers and investment opportunities is available on the UAPF website and on the invest.enpf.kz platform.
Thus, the pension system is gradually transforming from a model where contributors play a passive role to one that assumes conscious participation in managing their own long-term retirement savings. The consistent expansion of investment strategy options and the increased availability of information on pension asset management are creating conditions for more active participation by contributors in decisions related to the formation of their future retirement income.
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)
Between February 1, 2024, and September 1, 2026, a total of 365,553 citizens received targeted savings (TS) payouts under the National Fund for Children program, amounting to approximately US$76.11 million.
From the beginning of 2026 through September 1, 170,156 citizens received TS payouts totaling US$44.84 million. Of this number, 119,279 Kazakhstanis received over US$31.00 million for housing improvements, while 50,877 received US$13.83 million for education expenses.
The funds were transferred to authorized operators for subsequent crediting to the applicants' bank accounts. Recipients have the right to use either the full amount or a portion of it. Any unclaimed funds remain in the targeted savings account (TSA) for 10 years. After this period, the unused balance is transferred to the beneficiary's individual pension savings account, where it is recorded as voluntary pension contributions.
The most popular option for improving housing conditions was topping up housing construction savings accounts for further accumulation: payments totaling US$30.51 million were made to 117,712 recipients. Additionally, US$183.65 thousand was paid to 788 young Kazakhstanis for down payments on mortgage loans to purchase homes, while US$102.17 thousand was paid to 437 Kazakhstanis for the outright purchase of housing via civil-law transactions (final settlement).
Regarding the use of targeted savings for education, the largest share of funds was allocated to pay for educational services provided by institutions within the Republic of Kazakhstan—either in installments (per academic period or school year) or as a single lump-sum payment (covering the entire course of study); 47,584 citizens received a total of US$12.96 million under this category.
The following services were also in demand: topping up educational savings accounts under the relevant agreements—funds totaling US$587.56 thousand were transferred to 2,309 recipients; additionally, US$220.44 thousand was disbursed to 861 citizens to cover educational services provided by foreign educational institutions, either in installments (per academic period or academic year) or as a lump-sum payment (for the entire duration of study).
It should be noted that the accrual of targeted requirements ceases upon the death of a participant or the entry into legal force of a court decision declaring them deceased. To claim targeted entitlements /TS following the death of a participant or recipient, heirs may apply to the Unified Accumulative Pension Fund (UAPF) in accordance with the procedure established by the Government of the Republic of Kazakhstan.
As of September 1, 2026, payments totaling 74.46 thousand US dollars have been made to heirs, with 226 citizens receiving the funds.
Detailed information on TS payouts for housing improvement and/or education expenses, broken down by authorized operators and regions, is available on the enpf.kz website.
It is worth noting that, based on the results for 2025, a payment of $130.71 per child was credited to Kazakhstani children; for 2024, the amount was $129.38; and for 2023, it was $100.52.
Funds from the National Fund are credited annually to children under the age of 18 in the form of targeted allocations. Under the law, the amounts credited to young Kazakhstanis remain part of the National Fund’s assets and continue to be invested. Thanks to this ongoing investment, the value of each child's targeted requirements grows annually through the generated investment income.
As a result, the total accumulated value of all targeted requirements (including the investment income added each year) for a child participating in the program:
- - three years, amounted to 370 dollars 56 cents;
- two years, amounted to 263 dollars 93 cents;
- one year, amounted to 130 dollars 71 cents.
Parents and other legal representatives can verify a child's participation in the program using the child's IIN (Individual Identification Number) via the kids.enpf.kz website, the personal account section of the eGov.kz e-government portal, as well as the eGov Mobile app and the mobile apps of certain second-tier banks.
If information regarding the targeted allocations accrued to children for the 2025 reporting year is not displayed, it is necessary to update the documents within the mobile apps by following this path:
The absence of information regarding the accrual of targeted requirements for children who have reached or will reach the age of 18 this year in the legal representative's personal account is due to the fact that these entitlements have acquired "TS" status; consequently, access to information about them is granted directly to the TS recipient (the individual who has reached or will reach the age of 18 in 2026). These individuals must independently access information about their TS via their personal accounts on the UAPF or e-government websites so that, upon turning 18, they can contact an authorized operator to open a US dollar bank account and submit an online application for the TS payout to improve housing conditions and/or pay for education.
Currently, the authorized operators are:
Statistics regarding minors participating in the targeted entitlements program, adult TS recipients, and the use of TS funds for housing and/or education are available on the enpf.kz website.
You can review the program terms and obtain instructions and answers to your questions on the kids.enpf.kz website. You can also view video commentary and instructions on the topic on the БЖЗҚЕНПФ YouTube channel:
video commentary by Zh.B. Kurmanov, the Chairman of the Executive Board of UAPF JSC:
https://www.youtube.com/watch?app=desktop&v=30CdPWl6dv0
Video commentary by M.T. Sharipov, Managing Director of UAPF JSC:
https://www.youtube.com/watch?v=APg2vATmMk0
"Q&A" video commentary on the National Fund for Children program:
https://www.youtube.com/watch?v=4cKr1VCAvUk
https://www.youtube.com/watch?v=mrV0y37Gjnk
Instructions for the National Fund for Children website:
https://www.youtube.com/watch?v=VgP3dmMwAHc
https://www.youtube.com/watch?v=jyC2c-HgqpQ
Instructions on the implementation of the National Fund for Children program:
https://www.youtube.com/watch?v=bqeT41rWecA
https://www.youtube.com/watch?v=pNBSS1VHdWU
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)