Over the past 4 months, the net investment income of UAPF depositors (recipients) has exceeded 469 billion tenge.

Over the first four months of 2023, UAPF depositors received net investment income of 469.04 billion tenge, exceeding the same period last year by 340.32 billion tenge, or 3.6 times.

The return on pension assets over the past 12 months, secured by the National Bank of the Republic of Kazakhstan, was 8.93%.

Investment income consists of interest on securities (deposits and other transactions), market and currency revaluation of financial instruments, income on assets under external management, and other sources. To generate investment income, the National Bank of the Republic of Kazakhstan and investment portfolio managers (IPMs), which manage pension assets, invest pension assets in various financial instruments from various sectors of the economy in various currencies in the Republic of Kazakhstan and abroad. This diversification ensures the safety and stable return of pension savings. Thus, by diversifying the portfolio, a positive investment income was earned over four months.

It should be noted that the return on pension assets over short periods does not provide an objective picture of their management effectiveness. The UAPF pension assets have a long investment horizon, and the primary investment objective is to achieve real returns over the long term.

It should be noted that the investment return since the inception of the funded pension system (in 1998) as of May 1, 2023, cumulatively, was 758.38%, with inflation for the entire period at 710.74%. Consequently, the accumulated investment income exceeds inflation over the long term.

It should also be noted that Kazakhstan has a unique guarantee of the safety of mandatory pension contributions, taking into account the rate of inflation. Even if the return decreases in a particular period, affecting the contributor's accumulated return upon the entitlement to payments, compensation for the difference is guaranteed by the state.

The entire investment management and accounting system for pension assets is transparent: each investor can view their investment income in their personal account on the enpf.kz website or in the mobile app.

Information on the investment management of UAPF pension assets and the financial instruments in which UAPF pension assets are invested is published on the official UAPF website (www.enpf.kz) in the "Indicators/Investment Activities" section.

A wealth of interesting and useful information, including interviews with funded pension system experts on investing pension assets, can be found on the BZhZK/UAPF YouTube channel.

The UAPF was established on August 22, 2013, on the basis of JSC NPF UAPF. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan, represented by the State Property and Privatization Committee of the Ministry of Finance of the Republic of Kazakhstan. The National Bank of the Republic of Kazakhstan exercises trust management of the UAPFpension assets. Effective January 1, 2016, the responsibility for developing proposals to improve the efficiency of pension asset management was transferred to the National Fund Management Council. In accordance with pension legislation, the UAPF collects mandatory pension contributions, mandatory professional pension contributions, voluntary pension contributions, makes pension payments, maintains individual records of pension savings and payments, and provides contributors (recipients) with information on the status of their pension savings (more information at www.enpf.kz).