Scheduled pension savings payouts from the UAPF: how they are calculated and where to apply
Актуальные вопросы о 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 automatic authorization of VPC-based pension benefits by the UAPF when an individual submits an application to the State Corporation—following established procedures—to receive a state-funded pension and/or MPC- or MOPC-based benefits upon reaching retirement age.
• 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)
ANNOUNCEMENT
Rasul Rysmambetov, financier and independent member of the Board of Directors of UAPF JSC: "If a person doesn't save for old age—if they are convinced that the state will somehow come up with something and provide 'free cucumbers and tomatoes'—that simply won't happen, unfortunately... We can only build up savings for ourselves."
UAPF JSC continues its series of expert discussions as part of the "Dialogues on the Pension System" project.
Who came up with the idea of pensions? What should be the core objectives of the UAPF? Is it right to allow contributors to withdraw their savings? Which of us is the "Ant," and which is the "Grasshopper" from the famous fable?
In today’s exclusive interview, Rasul Rysmambetov—a financier and Independent Director of the Board of Directors of UAPF JSC—draws on his personal experience to discuss the challenges facing future retirees in Kazakhstan and shares his views on their prospects..
Watch the interview on the БЖЗҚ ЕНПФ YouTube channel
https://youtu.be/Dy76WU-qFrs?si=CocIIq7U4J0rv1SZ
Subscribe to the БЖЗҚ ЕНПФ YouTube channel for interesting and useful information about the funded pension system
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)
ANNOUNCEMENT
The UAPF has provided over 36 million services to the public since the beginning of the year
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)
Meeting of the Council of the Interdepartmental Commission for the Prevention of Offenses
On September 23 of this year, a meeting of the Council of the Interdepartmental Commission for the Prevention of Offenses under the Akim of the district was held in the main conference hall.
The meeting was chaired by A. Izhimov, Acting Akim of the Kurchum District. Employees of the institution and representatives of law enforcement agencies took part in the meeting.
The volume of pension savings of Kazakhstanis exceeded 28.47 trillion tenge
as of September 1, 2026.
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)
ANNOUNCEMENT
The accumulated net investment income of Kazakhstanis
amounted to 14.64 trillion tenge.
As of September 1, 2025, the net investment income accumulated since 2014—following the consolidation of pension assets into the Unified Accumulative Pension Fund (UAPF)—amounted to 14.64 trillion tenge. After accounting for payouts made, this income represents 40.6% of the total volume of Kazakhstani citizens' pension savings as of that date. Thus, investment income plays a vital role in building citizens' pension savings. Since 2014, there has been a marked improvement in the efficiency of pension fund investments, contributing to significant growth in the total volume of contributors' (and beneficiaries') savings.
It should be noted that pension savings in Kazakhstan serve as a strategic long-term investment tool designed to ensure citizens' financial stability during retirement. The implementation of a flexible investment policy and the diversification of investment portfolios by asset management companies foster steady growth in investment income over the long term.
However, assessing the return on pension assets over specific short-term periods cannot fully reflect the effectiveness of pension asset management. This is because income generated from financial instruments and other transactions over a short timeframe does not always offset fluctuations in securities prices and exchange rates during that period. Therefore, it is advisable to conduct an objective analysis of investment income over a period of at least one year.
Given the current macroeconomic situation, the return on pension assets managed by the National Bank of the Republic of Kazakhstan (NBRK)—comprising compulsory, compulsory occupational, and voluntary contributions—amounted to approximately 1.58 trillion tenge over the 12-month period from September 2025 to August 2026, with a yield of 6.17%.
Regarding pension assets derived from employer’s compulsory pension contributions, the investment income accrued over the last 12 months totaled 158.51 billion tenge, representing a yield of 18.65%.
As a reminder, amendments to the Social Code of the Republic of Kazakhstan took effect on September 7, 2026, significantly expanding the rights of Unified Accumulative Pension Fund contributors to independently select strategies and portfolios for managing their pension savings. Contributors may now transfer up to 100% of their savings to Investment Portfolio Managers (IPMs) for fiduciary management. Starting in 2026, contributors can choose from three investment strategies offered by IPMs, which differ in terms of risk level, expected return, and investment horizon. Each IPM manages assets within a single selected investment strategy. A composite benchmark has been established for each type of investment portfolio to serve as a reference point for evaluating the returns generated by the IPM.
The entire system for the investment management and accounting of pension assets is transparent: contributors can view their investment income via their personal accounts on the enpf.kz website or through the mobile app.
Information regarding the investment management of UAPF pension assets and the financial instruments in which these assets are invested is published on the official UAPF website (www.enpf.kz) under the "Statistics and Analytics/Investment Management of Pension Assets" section, as well as on the invest.enpf.kz portal.
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)
Shymkent Becomes the New City to Host an AI Office
Shymkent has opened the country’s fifth digital office of a new format, designed to enable citizens to independently access government services and use digital solutions. The space has been designed in accordance with modern requirements for the convenience and accessibility of public services.
The center features express service areas, digital, expert and training zones, as well as a dedicated recreation area. The AI office is equipped with all-in-one computers, high-speed scanners, and information screens featuring the eGov GPT service.
One of the key innovations is a document issuance terminal. Using the terminal, citizens can independently apply for an identity card or passport in just a few minutes.
“Digitalization of government processes has become a familiar part of our daily work. In line with the strategic priorities set by the President, we are focusing on automating public services, as well as creating an accessible and convenient environment for all categories of citizens. It is precisely this people-centered approach that we have implemented in our AI offices,” said Arman Kenzhegaliev, Chairman of the Board of the State Corporation “Government for Citizens.”
In addition to access to digital services, the office has dedicated training areas. Citizens can receive free training, improve their digital skills, and learn how to use electronic services.
Similar AI offices were previously opened in Astana, as well as in Turkistan and Ulytau Regions. The State Corporation plans to continue expanding the network of such offices across the country.
PENSION ASSET MANAGEMENT
KEY ISSUES REGARDING UAPF
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.
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).
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.
ANNOUNCEMENT
US$76.11 million has been allocated to Kazakhstanis
under the National Fund for Children program
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)
More Than 200,000 Kazakhstanis Have Received One-Time Payments in Connection with the Birth of a Child Since the Beginning of the Year
The arrival of a baby brings many happy moments to a family, accompanied by an important step — applying for the benefits to which parents are entitled. Parents can receive a childbirth benefit through the State Corporation “Government for Citizens.” During the first eight months of this year, more than 200,000 families have already received a one-time payment in connection with the birth of a child.
At the same time, parents are not required to apply for the payment in person, as the service is available in a proactive format. Following the registration of the child's birth, the parent receives an SMS notification. All that is required is to confirm consent to receive the service and provide a bank account number, after which the benefit will be assigned automatically.
The largest number of payments has been made in the southern regions and cities of republican significance. Turkistan Region is the clear leader in terms of the number of benefits issued, with more than 28,000 families receiving payments. Almaty ranks second, with more than 19,000 payments, while Astana ranks third, where more than 17,000 families have received state support.
The amount of the one-time financial assistance provided by the state depends on the birth order of the child. In 2026, the payment for the birth of a first, second, or third child amounts to KZT 164,350 while the payment for subsequent children is KZT 272,475.
It is also important to observe the application deadline. Documents must be submitted within 18 months from the date of the child's birth. Once this period expires, the right to receive the payment is forfeited.
The benefit can be applied for at branches of the State Corporation “Government for Citizens”; the service is provided within up to 7 business days. When an application is submitted through the e-government portal or the applications of second-tier banks, the payment is processed within 4 business days.