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)
The UAPF reminds that individuals with pension savings in the UAPF, formed through compulsory pension contributions and/or compulsory occupational pension contributions, who have reached the generally established retirement age, as well as individuals with disabilities of the first and second groups, if the disability is permanent, are entitled to receive pension benefits from the UAPF according to the established schedule.
As a reminder, the old-age pension is available to individuals who have reached the generally established retirement age: men upon reaching 63 years of age, and women upon reaching 61 years of age in 2026.
Pension benefits from the UAPF are paid until the pension savings are depleted.
To receive pension benefits from the UAPF upon reaching retirement age, beneficiaries must promptly contact the local Public Service Center (PSC) at their place of residence. Documents and applications can be submitted to the PSC 10 days before the beneficiary reaches retirement age. We strongly recommend adhering to this deadline, as it is especially important for receiving a state pension, which requires verification of work experience based on the documents submitted.
The pension is assigned from the date of application. It is important to note that if an application for pension payments is submitted before reaching retirement age, the date of application is considered the date of reaching retirement age. If an application is submitted after reaching retirement age, the date of application is considered the date of registration of the application with the Government for Citizens State Corporation.
In addition, please note that future pensioners (potential beneficiaries) whose phone numbers are registered in the egov mobile citizen database will receive an SMS notification from number 1414 two months before reaching retirement age, informing them of the opportunity to contact the nearest branch of the State Corporation in a timely manner to receive pension payment services, with a link to the list of documents on the egov.kz website. This means that government agencies are sending out the relevant notifications to ensure pension benefits are processed within the prescribed timeframe, as benefits are not assigned for the missed period.
Meanwhile, for individuals who have reached retirement age and who have pension savings in the UAPF but have not applied for their benefit, the UAPF conducts an annual verification, jointly with the State Corporation, to determine whether these citizens have assigned old-age pension benefits and the state basic pension benefit from budgetary funds. Based on the results of this verification, the UAPF makes payments proactively, i.e., without an application.
Furthermore, starting in March 2026, a similar, non-application pension benefit paymentt procedure has been introduced through voluntary pension contributions (VPC) for individuals who have reached retirement age and who have pension savings in the UAPF through VPC, but who have not previously applied to the UAPF for payment due to reaching the age of fifty or disability.
The non-application pension benefit payment procedure through VPC (if any) provides for:
· automatic assignment of UAPF pension payments through the VPC when applying to the State Corporation in the prescribed manner with applications for a pension from the state budget and payments through compulsory pension contributions and/or compulsory occupational pension contributions in connection with reaching retirement age;
· making payments through the VPC as part of a proactive service.
To receive a disability payment upon reaching age 50 through the VPC, please contact UAPF offices or through your personal account on the UAPF website (enpf.kz) or the UAPF mobile app using an electronic digital signature.
Please note that UAPF offers on-site services for individuals with disabilities. A preliminary consultation is provided, including verification of eligibility for services remotely, without an on-site visit.
The enpf.kz website provides a list of required documents depending on the type of pension benefit, the method of submission, document requirements, application forms and sample forms, and a sample power of attorney. In the "Electronic Services" section, you can pre-screen documents submitted for pension benefits from UAPF.
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)
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)
[1] Law of the Republic of Kazakhstan dated July 7, 2026 No. 334-VIII "On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on Issues of Improving Social Legislation"
On September 11 2026, UAPF will hold an offline Open Day on the topic: “Participation of Contributors in Managing Their Pension Assets and the invest.enpf.kz Portal for Independent Access to Information on Investment Portfolio Managers.” The venue will be held at: Серебрянск city, Веденеев street 14
The purpose of the event is to familiarize contributors and beneficiaries with the opportunities for independently managing their pension savings and using the invest.enpf.kz portal.
During the event, participants will be explained the options for transferring their entire pension savings to an investment portfolio manager (IPM) and will be told about the UAPF investment portal (invest.enpf.kz), where they can independently obtain information about such companies. In addition, responsible employees of the regional branches will answer other relevant questions and provide individual consultations to participants.
As a reminder, the Open Day will be held in person on the 11:00, 14:00 September 2026 at 11.
UAPF JSC welcomes its contributors, beneficiaries, and everyone else to the Open Day!
TRENDING QUESTIONS ABOUT THE UAPF
Currently, depositors can transfer up to 50% of their savings, formed through compulsory pension contributions (CPC) and compulsory occupational pension contributions (COPC), and up to 100% of voluntary pension contributions, to investment portfolio managers (IPMs). Effective September 7, 2026, contributors' ability to transfer mandatory savings to IPMs will be expanded to 100%. For depositors' convenience when choosing an IPM, all necessary information is published monthly on the online pension asset investment management platform, invest.enpf.kz, including financial indicators, pension asset returns, the size of pension assets under trust management, the investment portfolio structure, and its dynamics.
To transfer pension savings to an IPM, a contributor must select an IPM from the register of IPMs approved for pension asset management (detailed information is available on the UAPF website in the "Services - Transfer to Trust Management - Register of Investment Portfolio Managers" section), and then submit an application using the appropriate form. This can be done in your personal account on the enpf.kz website using an electronic digital signature, or at any UAPF branch.
The status of your submitted application to transfer pension savings to trust management can be tracked in your personal account on the website or in the UAPF mobile app under the "My Applications for Payments/Transfers/VPC Refunds" tab.
The process of submitting applications for transfer to IPM, as well as their processing by UAPF, is fully automated. UAPF transfers pension assets to IPM trust management within the timeframes established by regulations.
Starting July 1, 2023, investors have been able to transfer up to 50% of compulsory pension contributions (CPCs), compulsory occupational pension contributions (COPCs), and up to 100% of voluntary pension contributions (VPCs) to private investment portfolio managers (IPMs), regardless of the minimum sufficiency threshold. They can also transfer the entire amount of savings under CPCs and/or COPCs if they have a pension annuity agreement with an insurance company. Starting September 7, 2026, contributors' ability to transfer mandatory savings to IPMs will be expanded to 100%.
Transferring up to 100% of pension savings to IPM management opens up opportunities for contributors to grow their capital long-term, tailored to their own preferences, based on a study of IPM indicators and strategies.
Only IPMs listed in the register of pension asset management companies of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (ARDFM) are permitted to manage pension assets, regardless of strategy. The ARDFM has developed specific requirements for IPMs: they must possess a license to manage an investment portfolio, have successful experience in the market and managing client assets, demonstrate positive financial and economic performance over the past several years, have sufficient equity capital to cover losses associated with investing pension assets, etc. Furthermore, IPMs must enter into a trust agreement with the UAPF for the management of pension assets and have a tripartite custodial agreement with the UAPF and the custodian bank.
Currently, six companies are permitted to manage pension assets. These include: Alatau City Invest JSC, BCC Invest JSC, Halyk Global Markets JSC (Halyk Global Markets JSC notified UAPF on December 30, 2025, of its agreement termination effective January 1, 2027, at the initiative of this IPM. Therefore, UAPF will not accept new applications from contributors to transfer pension assets to its management effective January 1, 2026), Halyk Finance JSC, Centras Securities JSC, and Tansar Capital JSC. If a company is removed from the register, contributors' savings will return to the management of the National Bank.
Before deciding to transfer your pension savings to a trust, we recommend carefully reviewing the current list of IPMs on the market and examining their investment statements on the UAPF website. It is important to analyze the IPM's financial performance, as well as information on the application of administrative measures, sanctions, and enforcement actions by the regulator (ARDFM) against the IPM (if any).
The choice of an IPM is an independent decision for the contributor. On the UAPF portal (https://invest.enpf.kz/), you can compare various critical IPM performance indicators, such as profitability, NU (the specific value of pension assets used to characterize their change as a result of investment, the rate of which depends on the accrued investment income (loss)), portfolio structure, and the IPM's financial performance.
The Unified Internet Information Platform for Investment Management is a modern digital resource that provides contributors with the opportunity to analyze pension investments online. In their personal account, contributors can, among other things:
Thus, the unified online platform invest.enpf.kz is becoming an important element in the development of digital services in the pension system, facilitating more informed participation by contributors in managing their pension capital and shaping their financial future.
Up-to-date information on the selected IPM investment portfolio is also available on the Fund's website: https://www.enpf.kz/ru/services/Invest/57501/
It's worth noting that the Fund already has extensive experience integrating its systems within various government programs. Accordingly, UAPF's information systems allow for the accounting of all data during interactions with the IPM.
At the same time, UAPF remains the common accounting and information center for all contributors, operating their individual pension savings accounts regardless of who manages the assets (the NBRK and/or the IPM, at the contributor's discretion).
The UAPF is the single operator of Kazakhstan's funded pension system, ensuring the reliability and transparency of pension savings. Its primary objective is to accumulate citizens' pension savings and ensure their future benefits. The Fund's services help citizens not only accumulate the necessary funds for a decent retirement but also actively participate in financial planning for their future. The UAPF provides various digital services to Kazakhstanis and continues to develop them, adapting to customer needs. The 24/7 availability of the Fund's services on its website and mobile app is a key factor in increasing contributor interest.
From January 1, 2026, to July 31, 2026, the Fund provided 32.4 million services to the population. Of these, 20.7 million were provided electronically, and 11.0 million were provided automatically. Thus, the share of services provided automatically, electronically, and remotely amounted to 98.6% of the total. 454,400 services were provided in person, including 443,100 directly at the Fund's offices..
As a reminder, all pension accounts are opened automatically in the UAPF upon receipt of the first contribution. Target requirements are also automatically calculated for citizens of the Republic of Kazakhstan under 18 years of age, and target savings accounts (TSAs) are opened to record and pay out targeted savings to adult recipients of targeted savings under the National Fund for Children program.
During the reporting period, the total number of automatically opened individual pension savings accounts (IPSAs) for all types of individual pension contributions, as well as notional pension savings accounts (NPSAs) for recording employer’s compulsory pension contributions (ECPCs) transferred by employers from their own funds, and targeted savings accounts (TSAs, opened to record and pay out targeted savings to recipients of targeted savings under the National Fund for Children program) exceeded 1.1 million.
Receiving statements from IPSA, NPSA, and TSA remains the most popular service. Since the beginning of the year, 21.7 million statements have been issued for all account types, 19.3 million of which were issued electronically and 2.1 million automatically. UAPF reminds that receiving account information through your personal account is the most convenient, reliable, and efficient way to monitor your pension savings. The service operates online 24/7, allowing you to receive up-to-date information at any time and from anywhere. Account information is available not only through the ENPF mobile app and your personal account on the UAPF website, but also through the egov.kz portal or the e-government mobile app. This provides additional convenience for users who prefer to interact with government services through a unified platform. UAPF notes that, starting in 2025, the annual automatic mailing of statements will no longer be provided. However, it is still possible to receive information about the status of pension savings by mail by submitting a corresponding request to the UAPF address.
In addition to receiving statements in their personal account on the website and in the mobile app, contributors (beneficiaries) can use services such as making changes and additions to their details, obtaining a certificate of account availability, submitting an application for pension benefits in connection with the establishment of a disability of groups 1 or 2 indefinitely or in connection with reaching the age of fifty through voluntary pension contributions, tracking the status of a benefit application, transferring a portion of pension savings to an investment portfolio manager (IPM), projecting a future pension using a pension calculator, etc. Over the past period, 74,000 contributor applications for the transfer of a portion of pension savings to IPM trust management were accepted, the majority of which were in electronic format.
The UAPF reminds that its unified online information platform for investment management of citizens' pension assets, invest.enpf.kz, brings together all key information about investment portfolio managers (IPMs) in a single digital space and provides a systematic approach to providing data on investment activities. On the invest.enpf.kz portal, users have access in Kazakh and Russian to information about the pension savings system, securities, investment strategies (criteria), basic concepts, and the pension asset allocation structure, as well as the financial performance of each IPM, data on the IPM's compliance with regulatory requirements, and other information allowing contributors to develop a profile of their IPM and its investment activities.
During the reporting period, 67,200 applications for changes to account details were received, 63,100 of which were submitted at the Fund's offices.
When applying for a service from UAPF specialists, contributors typically receive additional consultations and advice on savings management. As part of its outreach efforts, 34,700 roadside presentations were held, attended by 689,000 people. The number of materials published in the media based on UAPF announcements was 24,100.
The number of inquiries received from contributors and beneficiaries through feedback channels (call center, website consultations, instant messaging, social media, and other communication channels) was 255,800.
As a reminder, any company can request an on-site presentation and consultation on the funded pension system by simply calling the call center at 1418 or through the Fund's website or mobile app.
UAPF consulting services can be obtained through instant messengers (chat bot in WhatsApp and Viber at +7 777 000 14 18), call center at 1418 (free call within Kazakhstan), 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)
As of August 1, 2026, the pension savings of Kazakhstanis amounted to 28.35 trillion tenge, an increase of 3.50 trillion tenge (or 14.1%) over the past 12 months.
The bulk of pension savings come from compulsory pension contributions (CPCs). As of August 1, 2026, their volume reached 26.31 trillion tenge, an increase of 2.69 trillion tenge (or 11.4%) over the past 12 months.
The volume of pension savings formed through compulsory occupational pension contributions (COPCs) exceeded 751.56 billion tenge. This figure has grown by 6.6% over the past 12 months.
Savings formed through voluntary pension contributions (VPCs) continued to grow. As of August 1, 2026, their volume amounted to 10.41 billion tenge, an increase of 14.9% over the 12 months.
A significant increase in pension savings formed through employer’s compulsory pension contributions (ECPC), which have been deposited into the pension accounts of contributors (beneficiaries) since January 1, 2024, has also been noted. As of August 1, 2026, their volume amounted to 1,273.93 billion tenge, an increase of 2.5 times over the 12 months.
Incomes
The total savings volume is provided by pension contributions and investment income. In the first seven months of 2026, 2,127.27 billion tenge in contributions were received into individual and conditional pension accounts, an increase of 15.7% (or 289.09 billion tenge) compared to the same period last year.
Individual pension savings accounts (IPSAs) for the purpose of accounting for compulsory pension contributions (CPCs) received 1,630.80 billion tenge as of August 1, 2026 (an increase of 8.1% compared to the same period last year), 87.69 billion tenge in COPCs (an increase of 11.0%), and 1,251.28 million tenge in VPCs. ECPC since the beginning of the year as of August 1, 2026, amounted to 407.53 billion tenge.
Net investment income received by contributors since the beginning of the year as of August 1, 2026, amounted to 1,233.05 billion tenge.
Benefits and transfers
Benefits for all types of contributions and transfers to insurance companies from the UAPF for January-July 2026 reached 1,083.51 billion tenge.
The volume of old-age payments amounted to 170.95 billion tenge. The average monthly payment scheduled from the UAPF upon reaching retirement age was 38,993 tenge.
Lump-sum pension benefit payments (LSPBPs) for housing improvements and medical treatment from the beginning of 2026 as of August 1, 2026, amounted to 435.20 billion tenge, inheritance payments amounted to 63.06 billion tenge, payments related to departure for permanent residence outside the Republic of Kazakhstan amounted to 28.13 billion tenge, payments to persons with disabilities amounted to 2.05 billion tenge, and funeral payments amounted to 5.56 billion tenge. An amount of 378.56 billion tenge was transferred to insurance organizations.
IPSA number
The total number of pension accounts in the UAPF as of August 1, 2026, was 18.89 million (an increase of 1.12 million or 6.3% over the 12 months). The number of individual pension savings accounts of contributors (beneficiaries) in the UAPF as of August 1, 2026, was 12.84 million, of which 11.39 million were under the CPC, 789,480 under the COPC, and 463,690 under the VPC. It should be noted that the total number of accounts for recording the CPC (11.39 million) also includes accounts of beneficiaries who have permanently resided outside the country but have not applied for their savings, deceased contributors whose heirs have not formalized the inheritance of their pension savings, military personnel who transferred to full state pension provision in 2016, and other categories of contributors (beneficiaries) whose accounts, according to Kazakhstani law, should not receive contributions.
The number of notional pension accounts in the UAPF recording information on received CPC totaled 6.06 million.
All up-to-date information on pension asset statistics is available on the enpf.kz website in 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)
Every year, citizens in Kazakhstan are becoming more aware of their pension security, as is common in other countries. More and more people view their pension savings as their own long-term financial capital, which determines their well-being in old age. This is evidenced by the dynamic growth of savings, the expansion of the population's coverage by the funded pension system (FPS), the increase in the number of citizens regularly making pension contributions, and the increased regularity of their transfers.
Growth of pension savings and open pension accounts of citizens
As of July 1, 2026, Kazakhstani pension savings in the UAPF reached 28.09 trillion tenge, an increase of 4.08 trillion tenge, or 17.0%, year-on-year.
One indicator of the development of the NPS is the steady growth in the number of pension accounts. As of July 1, 2026, 18.78 million pension accounts were opened in the UAPF, an increase of 1.11 million, or 6.3%, compared to the previous year. Of these, 12.80 million are individual pension savings accounts of contributors (beneficiaries), including 11.36 million for compulsory pension contributions (CPC), 786,270 for compulsory occupational pension contributions (COPC), and 462,400 for voluntary pension contributions (VPC). In addition, the UAPF maintains 5.97 million notional pension accounts, which track information on employer’s compulsory pension contributions (ECPCs). All account and savings information is transparent and accessible to citizens 24/7 via a personal statement, which can be obtained from the UAPF website or mobile app, as well as at regional offices.
How to correctly assess the population's activity in paying pension contributions?
When assessing citizen activity, it is important to consider the following. The total number of open CPC accounts (11.36 million) includes accounts to which contributions are no longer being received for objective reasons. These accounts include the following categories of citizens:
- pension recipients who have reached retirement age and are exempt from further pension contribution payments even if they continue to work and have an income;
- persons with permanent first and second group disabilities;
- military personnel transferred to full state pension coverage since 2016;
- other categories of contributors (beneficiaries) to whose accounts, in accordance with Kazakhstani law, contributions should not be received;
- contributors who have permanently resided outside the country but have not claimed their savings;
- deceased contributors whose heirs have not yet formalized the inheritance of their pension savings.
Moreover, all citizens experience objective circumstances throughout their lives during which they do not have income from which pension contributions must be paid. Such periods include the following:
- studying at educational institutions,
- military service,
- caring for children and relatives,
- periods of job search and change,
- work abroad,
- breaks related to the seasonal nature of work,
- work that requires irregular income throughout the calendar year,
- periods associated with long-term treatment and rehabilitation.
Therefore, in international practice, the generally accepted and most objective indicators of population participation in the FPS are the number of citizens receiving income and the corresponding number of active individual pension savings accounts that received at least one contribution during the year. In the first half of 2026 alone, their number increased from 7.20 million to 7.34 million accounts (an increase of 150,300). At the same time, the volume of pension savings in these accounts also increased. In the first half of 2026, it increased from 20.95 trillion tenge to 22.24 trillion tenge, or by almost 1.29 trillion tenge (6.2%).
The majority of active accounts belong to citizens who are permanently employed and regularly pay the CPC. Their number increased from 6.77 million to 6.93 million over six months, and savings on them increased from 20.10 trillion to 21.07 trillion tenge.
Regularity and completeness of payment of pension contributions
Important factors in building adequate pension savings (in addition to the duration of participation in the FPS) are the regularity and completeness of contribution payments.
In Kazakhstan, the average regularity of CPC payments per year has been steadily increasing:
- for employees, this figure increased from 8.95 in 2024 to 8.98 contributions in 2025;
- for the self-employed, from 7.36 to 7.53.
Moreover, 80% of employees and 64% of the self-employed paid pension contributions 6 to 12 times a year in 2025.
The average contribution amount in 2025 was 43,661 tenge among employees (which correlates with the payment of contributions from income at the level of the average wage in the republic), 23,225 tenge among the self-employed (which indicates the payment of contributions from income above the minimum wage, but below the median wage).
Long-term trends also indicate a gradual increase in FPS coverage and CPC payment compliance. While the number of active CPC accounts was 6.07 million in 2015, by 2025 their number exceeded 7.20 million. The share of citizens paying contributions 6 to 12 times a year increased from 71% in 2015 to 78% in 2025. Accordingly, the share of those paying contributions sporadically (1 to 5 times a year) decreased from 29% to 22%.
Dependence of pension contributions on the level of income of contributors
Positive changes are observed in the structure of active individual CPC accounts based on contributor income levels.
Over the course of 2025 (as of January 1, 2026), the share of accounts receiving contributions from incomes below the minimum wage (MW) decreased from 12% to 9% (the number of such accounts decreased from 838,300 to 652,400, or by 22.2%). These include contributors employed part-time or with shift work.
At the same time, the number of accounts receiving contributions from higher incomes increased. By 2025, the share of active accounts with incomes ranging from the median to the average monthly salary[1] increased from 44% (as of January 1, 2025) to 45% (as of January 1, 2026), and the number of such active accounts increased from 3.17 million to 3.28 million. This trend reflects both the growth of official employment and income, as well as citizens' desire to accumulate savings by paying contributions from their income transparently and in full.
By the end of 2025, coverage among employees reached 91%, demonstrating their near-complete coverage and participation in building their pension savings. Coverage is lower among self-employed workers, necessitating the implementation of a range of measures to integrate them into the pension system, taking into account best international practices. This is especially important since the basic pension amount also depends on length of service, which is determined based on the monthly contribution of the CPC to the UAPF.
Thus, in today's environment, pension savings are becoming not only a mechanism for ensuring income after retirement, but also an important element of society's financial culture and the financial independence of its citizens.
Citizens are increasingly monitoring their account balances, using UAPF electronic services, inquiring about investment income, and exploring pension asset management options. Citizen participation in building their own savings, regular contribution payments, and interest in savings management indicate the gradual emergence of long-term financial planning practices in Kazakhstan, where responsibility for future well-being is becoming a shared responsibility between the state, employers, and citizens themselves.
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] According to the Bureau of National Statistics of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan for the third quarter of 2025, the average monthly salary was 429,368 tenge, the median salary was 302,584 tenge
Article 217 of the Social Code stipulates that, effective January 1, 2027, "the State guarantees beneficiaries the safety of compulsory pension contributions and compulsory occupational pension contributions to the Unified Accumulative Pension Fund in the amount of actually paid compulsory pension contributions and compulsory occupational pension contributions."
The state guarantees the safety of pension assets by regulating the activities of the Unified Accumulative Pension Fund and private investment portfolio managers (IPMs), establishing investment requirements for both the National Bank of the Republic of Kazakhstan (NBRK) and IPMs, requirements for diversification and risk mitigation when investing pension assets, and other regulatory standards.
Therefore, the funded pension system and pension provision for Kazakhstanis as a whole remain under the regulation, control, and responsibility of the state.
Pension asset investments are handled by the National Bank of the Republic of Kazakhstan (NBRK), and since 2021, by investment portfolio managers (IPMs) holding the appropriate license and meeting the requirements of the authorized body. The primary objective of this type of trust management of pension savings is to invest in various financial instruments and generate income. Pension asset managers—the NBRK and IPMs—have their own pension asset 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 that Kazakhstanis can entrust with 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.
You can find information about investment portfolio managers and study their investment declarations on the website www.enpf.kz in the “Services” section - “Register of Investment Portfolio Managers”, as well as through the online information platform invest.enpf.kz.
Article 40 of the Social Code grants depositors the right to independently decide whether to transfer their pension savings to the management of the Compulsory Pension Contributions (CPC) and/or maintain them under the management of the National Bank.
In September 2026, legislative changes will also come into force, expanding depositors' investment options. Currently, depositors can transfer up to 50% of compulsory pension contributions and compulsory occupational pension contributions, and up to 100% of voluntary pension savings, to the CPC. Starting in the fall, they will be able to transfer both voluntary pension savings and savings formed from compulsory pension contributions (CPC) and compulsory occupational pension contributions (COPC) in full to the CPC.
The contributor has the right to independently select one or more IPMs, as well as various investment portfolios—that is, investment strategies for managing pension assets offered by the IPMs, which vary in risk level, expected return, and investment term.
To transfer funds to an IPM trust, the contributor must submit an application form. This can be done in their personal account on the enpf.kz website, on the invest.enpf.kz online platform using an electronic digital signature, or at any UAPF branch.
Transferring up to 100% of pension savings to IPM management opens up opportunities for depositors to grow their capital over the long term by choosing an IPM with a better performance history or a more aggressive strategy.
The UAPF, 100% government-owned, is the unified infrastructure institution in the pension market. With contrtibutors exercising their right to transfer their savings to IPM management, the UAPF's institutional role has expanded. The UAPF is a unified accounting and information center for all contributors, operating their individual pension savings accounts regardless of who manages the assets (the NBRK and/or the IPM, at the contributor's discretion).
The UAPF provides accessible services related to pension asset management, fully reflecting information about citizens' savings in statements 24/7. In addition, an online information platform (invest.enpf.kz) has been launched for UAPF contributors as a modern digital resource that allows them to compare asset management results across all managers (the National Bank of the Republic of Kazakhstan and the IPM). Invest.enpf.kz provides access to performance information and allows for dynamic comparison of data across asset managers and their portfolios over a specified period.
Using this platform, contributors can learn about:
Furthermore, information on investment activities is regularly published on the enpf.kz website and the invest.enpf.kz online platform and is updated on an ongoing basis.
The contributor has the right to independently select the IPM and investment portfolio, i.e., the investment strategy for managing pension assets, which differ in risk level, expected return, and investment term.
In turn, the IPM bears statutory responsibility for the fiduciary management of pension assets and, in the event of a negative difference between the nominal return earned by the IPM and the minimum return calculated in accordance with regulatory requirements, compensates for the negative difference from the IPM's own capital.
The Unified Accumulative Pension Fund (UAPF) plays a key role in the country's pension system, providing citizens with reliable tools for saving for retirement. UAPF provides a variety of digital services to Kazakhstanis and continues to develop them, adapting to customer needs. The 24/7 availability of the Fund's services on its website and mobile app is a key factor in increasing contributor interest.
Over the five months from January 1, 2026, to May 31, 2026, 24.7 million services were provided to the public. Of these, 14.3 million were provided electronically, and 9.9 million were automated. Thus, the share of automated, electronic, and remote services amounted to 98.7% of the total. 322,100 services were provided in person, including more than 313,400 directly at the Fund's offices.
As a reminder, all pension accounts are opened automatically in the UAPF upon receipt of the first contribution. Targeted requirements are also automatically accrued to citizens of the Republic of Kazakhstan under 18 years of age, and targeted savings accounts (TSA) are opened to record and pay out targeted savings to adult recipients of targeted savings under the National Fund for Children program.
During the reporting period, the total number of automatically opened individual pension savings accounts (IPSAs) for all types of compulsory pension contributions (CPCs), notional pension accounts (NPSAs) for recording compulsory occupational pension contributions (COPCs) paid by employers from their own funds, and targeted savings accounts (TSAs, opened to record and pay targeted savings to recipients of targeted savings under the National Fund for Children program) amounted to 891,700.
Getting statements from IPSAs, NPSAs, and TSAs remains the most popular service. Since the beginning of the year, more than 15.0 million statements have been issued for all account types, 13.3 million of which were electronic and 1.5 million statements were issued automatically. The UAPF reminds that accessing account status information through your personal account is the most convenient, reliable, and timely way to monitor your pension savings. The service operates online 24/7, allowing you to receive up-to-date information at any time and from anywhere. Account status information is available not only through the UAPF mobile app and your personal account on the UAPF website, but also through the egov.kz portal or the e-government mobile app. This provides additional convenience for users who prefer to interact with government services through a single platform. UAPF notes that, starting in 2025, the annual automatic mailing of statements will no longer be provided. However, receiving information on pension savings by mail is still possible upon submitting a request to the UAPF address.
In addition to receiving statements in their personal account on the website and in the mobile app, contributors (beneficiaries) can use services such as making changes and additions to their account details, obtaining a certificate of account availability, submitting an application for pension benefits due to the establishment of a Group 1 or 2 disability for life or upon reaching the age of 50 through voluntary pension contributions, tracking the status of a benefit application, transferring a portion of their pension savings to an investment portfolio manager (IPM), calculating a projected future pension using a pension calculator, etc. Over the past period, 38.7 thousand contributor applications for transferring a portion of their pension savings to IPM trust management were accepted, the majority of which were in electronic format.
During the reporting period, 46.7 thousand applications for changing account details were accepted, of which approximately 44.0 thousand were submitted at the Fund's offices.
When seeking a service from UAPF specialists, contributors typically receive additional consultations and advice on savings management. As part of outreach efforts, 25,100 roadside presentations were held, attended by 505,100 people. The number of materials published in the media based on UAPF announcements amounted to 17,000.
The number of inquiries received from contributors and beneficiaries through feedback channels (call center, website consultations, instant messaging, social media, and other communication channels) amounted to 192,500.
As a reminder, any company can request an on-site presentation and consultation on the funded pension system by simply calling the call center at 1418 or through the Fund's website or mobile app.
UAPF consulting services can be obtained through instant messengers (chat bot in WhatsApp and Viber at +7 777 000 14 18), call center at 1418 (free call within Kazakhstan), 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)