Announcement
Open Day:
UAPF presents a new investment portal
On April 28, 2026, UAPF invites everyone to its traditional online meeting, Open Day, where Fund specialists will provide a detailed overview of the new investment portal, invest.enpf.kz, and the opportunities it offers contributors.
At the meeting, you will learn:
Participants will be able to ask any questions they may have and receive clarification from Fund specialists, as well as individual consultations.
The Open Day will be held online on April 28, 2026, at 10:00, 14:00, and 15:30.
To participate, each participant must follow the link
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Event-совещание/ Event- жиналыс/ Event meeting: |
Мероприятие «День открытых дверей» АО «ЕНПФ»/ «Ашық есік күнінің» |
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Адрес совещания для регистрации/ Тіркелу үшін оқиға мекенжайы/Meeting address for registration: |
https://enpf.webex.com/weblink/register/r0cda11895a157fc6e053f764bb517a01 |
https://enpf.webex.com/weblink/register/r923afe99b844791bf2f155e0f4c700b9 |
https://enpf.webex.com/weblink/register/rd21ffe86b43a982317d5828ac80dbc64 |
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Дата и время/ Күні мен уақыты/Date and time: |
10:00 - 11:00 вторник, 28 апреля 2026 г. (UTC+05:00) Астана |
14:00 – 15:00 сейсенбі, 28 сәуір 2026 ж. (UTC+05:00) Астана |
15:30 – 17:30 вторник, 28 апреля 2026 г. (UTC+05:00) Астана |
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Номер event-совещания/ Event- жиналыс нөмірі/ Event meeting number: |
2513 932 2493 |
2514 533 0434 |
2511 277 0543 |
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Пароль event-совещания/ Event- жиналыс паролі/ Event meeting password: |
145324 |
457322 |
773976 |
UAPF JSC welcomes its contributors (beneficiaries) and everyone else to the Open Day!
On April 28, 2026, the UAPF invites everyone to its traditional Open Day online meeting at (insert time).
The event topic is: “The UAPF Investment Portal – information on pension assets.”
At the meeting, you will learn:
In addition to the main agenda, participants will be able to receive qualified advice on all issues related to the funded pension system.
Registration is required to participate in the event.
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Event-совещание/ Event- жиналыс/ Event meeting: |
Мероприятие «День открытых дверей» АО «ЕНПФ»/ «Ашық есік күнінің» |
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Адрес совещания для регистрации/ Тіркелу үшін оқиға мекенжайы/Meeting address for registration: |
https://enpf.webex.com/weblink/register/r0cda11895a157fc6e053f764bb517a01 |
https://enpf.webex.com/weblink/register/r923afe99b844791bf2f155e0f4c700b9 |
https://enpf.webex.com/weblink/register/rd21ffe86b43a982317d5828ac80dbc64 |
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Дата и время/ Күні мен уақыты/Date and time: |
10:00 - 11:00 вторник, 28 апреля 2026 г. (UTC+05:00) Астана |
14:00 – 15:00 сейсенбі, 28 сәуір 2026 ж. (UTC+05:00) Астана |
15:30 – 17:30 вторник, 28 апреля 2026 г. (UTC+05:00) Астана |
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Номер event-совещания/ Event- жиналыс нөмірі/ Event meeting number: |
2513 932 2493 |
2514 533 0434 |
2511 277 0543 |
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Пароль event-совещания/ Event- жиналыс паролі/ Event meeting password: |
145324 |
457322 |
773976 |
On April 28, 2026, UAPF invites everyone to its traditional online meeting, Open Day, where Fund specialists will provide a detailed overview of the new investment portal, invest.enpf.kz, and the opportunities it offers contributors.
Pension savings are not only a fund for the future but also a financial resource that can be effectively managed. UAPF contributors have the opportunity to influence the return on their savings by transferring a portion of their savings to investment portfolio managers (IPMs): up to 50% through compulsory and compulsory occupational pension contributions, and up to 100% through voluntary pension contributions. IPMs invest pension funds in stocks, bonds, currencies, and other financial instruments specified in the investment policy, with the goal of generating income.
To make these processes as clear as possible, a new investment portal has been created. It helps contributors better navigate investment activities and make informed decisions about managing their pension savings.
At the meeting, you will learn:
In a single digital space, users can access basic concepts and explanations on investment topics, key information about investment portfolio trustees, pension asset allocation structures, investment strategies (criteria), financial indicators, and other information in Kazakh and Russian, allowing contributors to develop a personal profile of the trustee and their investment activities.
Portal users can easily compare the returns, portfolio structure, and management results of the IPM and the NBRK, track performance indicators, and thereby gain a deeper understanding of pension asset investment mechanisms. This tool is especially important for young contributors, who can gain valuable investment experience, participate in choosing a more profitable investment strategy, and influence the management of their pension savings.
The event will be held in an interactive format, allowing participants to ask questions and receive clarifications from Fund specialists, as well as individual consultations. This format is particularly convenient, as it allows users to connect from anywhere in the world and receive up-to-date information directly from experts. It's worth noting that the UAPF places significant emphasis on improving the financial and legal literacy of Kazakhstan's population. In 2025 alone, more than 38,000 informational meetings were held, reaching approximately 800,000 people, and approximately 400,000 inquiries were processed.
The latest Open Day continues this work, offering participants practical tools for understanding and managing their pension savings. We hope this event will be useful for both savers and journalists involved in covering topics related to Kazakhstan's funded pension system.
Registration is required to participate in the event.
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Event-совещание/ Event- жиналыс/ Event meeting: |
Мероприятие «День открытых дверей» АО «ЕНПФ»/ «Ашық есік күнінің» |
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Адрес совещания для регистрации/ Тіркелу үшін оқиға мекенжайы/Meeting address for registration: |
https://enpf.webex.com/weblink/register/r0cda11895a157fc6e053f764bb517a01 |
https://enpf.webex.com/weblink/register/r923afe99b844791bf2f155e0f4c700b9 |
https://enpf.webex.com/weblink/register/rd21ffe86b43a982317d5828ac80dbc64 |
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Дата и время/ Күні мен уақыты/Date and time: |
10:00 - 11:00 вторник, 28 апреля 2026 г. (UTC+05:00) Астана |
14:00 – 15:00 сейсенбі, 28 сәуір 2026 ж. (UTC+05:00) Астана |
15:30 – 17:30 вторник, 28 апреля 2026 г. (UTC+05:00) Астана |
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Номер event-совещания/ Event- жиналыс нөмірі/ Event meeting number: |
2513 932 2493 |
2514 533 0434 |
2511 277 0543 |
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Пароль event-совещания/ Event- жиналыс паролі/ Event meeting password: |
145324 |
457322 |
773976 |
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«День открытых дверей» в АО «ЕНПФ» - изучаем возможности инвестирования своих пенсионных накоплений В рамках информационно-разъяснительной работы среди населения 11 и 13 декабря 2024 года АО «ЕНПФ» проведет «День открытых дверей» на тему: «Инвестиционные стратегии УИП. Рассмотрение актуальных вопросов вкладчиков».
Во время проведения Дня открытых дверей вкладчикам ЕНПФ представится уникальная возможность получить информацию об управлении пенсионными активами непосредственно от представителей управляющих инвестиционным портфелем (УИП). Каждый УИП презентует свою стратегию инвестирования и ответит на вопросы участников мероприятия. Специалисты ЕНПФ подскажут, где найти информацию об УИП и как перевести им накопления, если вкладчик сделал свой выбор. Как известно, с января 2021 года вкладчики ЕНПФ получили возможность передавать свои пенсионные накопления частным инвестиционным компаниям – УИП. Изначально можно было передать только накопления, превышающие порог минимальной достаточности или оставшиеся на пенсионном счете после заключения договора пенсионного аннуитета со страховой компанией. Однако с 1 июля 2023 года инвестиционные возможности расширились: теперь вкладчики ЕНПФ могут передать до 50% своих сбережений за счет обязательных и обязательных профессиональных пенсионных взносов, а также 100% добровольных взносов в доверительное управление частным компаниям. Встреча пройдет в онлайн-формате, что позволит принять участие в ней всем желающим. Надеемся, она будет полезна всем – как вкладчикам, так и журналистам, задействованным в освещении тем, касающихся накопительной пенсионной системы Казахстана. Для участия в мероприятии необходима регистрация. Просим Вас пройти по ссылке (вписать ссылку каждому филиалу отдельно). Номер event-совещания: (вписывает сам филиал) Пароль event-совещания: (вписывает сам филиал)
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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)
Scheduled pension benefit: when and where to apply?
Monthly pension benefits according to the established schedule from the UAPF in accordance with the Social Code of the Republic of Kazakhstan are paid to persons who have reached retirement age (men - 63 years, women - 61 years), as well as persons with disabilities of groups 1 or 2, established indefinitely, who have pension savings in the UAPF, in the manner determined by the Government of the Republic of Kazakhstan.
To receive pension benefits from the Unified Accumulative Pension Fund (UAPF) through compulsory pension contributions upon reaching retirement age, as well as to receive a basic and solidarity pension from the state budget, beneficiaries must promptly contact the State Corporation "Government for Citizens" (PSC) at their place of residence. This can be done 10 days before reaching retirement age. All pension payments are made from the date of application. The date of application is considered to be the date of registration of the application and required documents at the PSC, provided that the beneficiary has reached retirement age. If they applied earlier, the date of application is considered to be the date of reaching retirement age. It is important to remember that pension benefits from the state budget and from the UAPF will not be assigned for the missed period.
It is also important to apply for pension benefits from the budget in a timely manner, as their assignment requires verification of the beneficiary's work history based on the documents submitted by the recipient.
It is worth noting that in order to provide a proactive service for pension benefits from the UAPF to individuals who have reached retirement age and who have pension savings in the UAPF but have not applied for their payment, the UAPF conducts an annual reconciliation with the State Corporation to determine whether these individuals have assigned old-age pension benefits and a state basic pension benefit from budgetary funds. Based on the results of the annual reconciliation, if individuals are identified who have assigned pension benefits from budgetary funds, the UAPF provides them with a proactive service (without an application) to make pension benefits to them under the relevant agreement concluded with the State Corporation, using the bank details provided by the beneficiaries at the Public Service Center when assigning old-age pension benefits.
To receive a permanent payment of your pension savings due to a first or second group disability, you must contact the UAPF branch office either through your personal account on the website (enpf.kz) or in the UAPF mobile app using an electronic digital signature.
Please note that the UAPF offers on-site service for individuals with permanent first or second group disabilities. A preliminary consultation is provided, including verification of eligibility for receiving services remotely, without an on-site visit.
Pension benefits from the VPC can be started before reaching the generally established retirement age – starting at age 50. Furthermore, pension benefits from the VPC are provided to individuals with disabilities, regardless of the disability group or the duration of their disability.
An application for VPC payments due to age or disability can be submitted online through your personal account on the enpf.kz website. The payment schedule is determined by the contributor. It should be noted that pension benefits from the UAPF are paid until the pension savings are depleted.
It should be noted that pension benefit payments from the UAPF are made until the pension savings are depleted.
On the enpf.kz website, in the "Services - Pension Benefitsts - Scheduled Payments" section, you can find a list of required documents depending on the type of pension benefit, the method of submission, the requirements for their completion, application forms and sample forms, and a sample power of attorney.
Also, for security purposes and to prevent fraud against depositors, UAPF JSC would like to remind you of the following:
The UAPF strongly recommends obtaining information from official sources and acting exclusively within the legal framework.
Familiarize your loved ones, especially elderly relatives, with information security rules.
Observe precautions to ensure the safety, security, and confidentiality of your personal information.
The UAPF's advisory services are available via instant messaging (the WhatsApp and Viber chatbot at +7 771 171 72 01), on the corporate website enpf.kz, and on the UAPF's official social media pages: Instagram, Facebook, VKontakte, Telegram, and Odnoklassniki.
UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details at www.enpf.kz)
As of January 1, 2026, Kazakhstani pension savings exceeded KZT25.97 trillion, representing a 12-month increase of KZT3.18 trillion, or 13.9%.
Pension savings from compulsory pension contributions (CPC) as of January 1, 2026, totaled KZT24.48 trillion, an increase of 11.9% over the 12 months.
Pension savings from compulsory occupational pension contributions (COPC) totaled KZT726.58 billion, an increase of 11.1% over the 12 months.
Voluntary pension contributions (VPC) demonstrated the highest annual increase, up 22.6%, reaching KZT9.73 billion as of January 1, 2026.
As of January 1, 2026, the amount of pension savings from employer’s compulsory pension contributions (ECPC), received from January 1, 2024, into the pension accounts of contributors (beneficiaries), amounted to KZT760.15 billion.
Incoming
The increase in savings is driven by pension contributions and investment income. Over the year, KZT3,251.67 billion in contributions were received into individual and conditional pension savings accounts, representing a 16.6% (or KZT462.28 billion) increase compared to the same period last year.
Individual pension savings accounts (IPSAs) for the CPC have received KZT2,659.56 billion since the beginning of 2025 as of January 1, 2026 (an 8.9% increase compared to the same period last year), KZT133.37 billion for the COPC (an increase of 17.4%), and KZT2.32 billion for the VPC. Contributions from the ECPC for the year totaled KZT456.42 billion.
Pension benefits and transfers
Pension benefits for all types of contributions and transfers to insurance organizations from the UAPF for 2025 totaled KZT2,051.05 billion, exceeding the previous year's benefit payment volume by 54.9%, or KZT727.20 billion.
Old-age benefits as of January 1, 2026, increased by 24.4% year-on-year to KZT254.13 billion. The average monthly scheduled payment from the UAPF upon reaching retirement age was 35,970 tenge.
Lump-sum pension benefit payments (LSPBPs) for housing improvements and medical treatment for 2025 amounted to KZT1,254.57 billion, inheritance payments – KZT58.15 billion, payments related to leaving Kazakhstan for permanent residence – KZT43.75 billion, payments to persons with disabilities – KZT3.10 billion, and funeral payments – KZT10.46 billion. A total of KZT426.89 billion was transferred to insurance companies.
Number of IPSA
The total number of pension accounts in the UAPF as of January 1, 2026, was 18.24 million (an increase of 1.06 million or 6.2% over the 12 months). The number of individual pension savings accounts of contributors (beneficiaries) in the UAPF as of January 1, 2026, was 12.72 million, of which 11.30 million were for CPC, 764.1 thousand were for COPC, and 466.3 thousand were forVPC.
It should be noted that the total number of accounts for recording the compulsory pension contributions (11.30 million units) 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 2017, and other categories of contributors (beneficiaries) whose accounts, in accordance with Kazakhstani law, should not receive contributions.
We also clarify that, in accordance with international practice, an individual pension savings account is considered active if at least one contribution is received during the calendar year. At the end of the reporting period, the actual share of active individual pension accounts for the compulsory pension contribution (IPSA) was 71.29% (7.21 million accounts) of the total 10.11 million IPSA accounts to which contributions could be made, including accounts opened before January 1, 2025, and new accounts opened in 2025. The number of notional pension accounts in the UAPF, which record information on received ECPC, totaled 5.51 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)
The amount of pension benefits from the UAPF to pensioners who retired early, before 2026, increased by 5% effective January 1.
As a reminder, benefits from the UAPF are paid in accordance with the Methodology for Calculating Pension Benefits, approved by the Decree of the Government of the Republic of Kazakhstan dated June 30, 2023. According to this method, payments to citizens retiring are calculated as follows: in the first year of receiving benefits, the amount of pension savings is multiplied by the pension savings payment rate of 6.5% and divided by 12. In subsequent years, the monthly pension benefit is increased by the pension payment indexation rate of 5%. Moreover, the monthly pension benefit from the UAPF is made in an amount of at least 70% of the subsistence minimum (hereinafter referred to as the SM), established for the corresponding financial year by the law on the republican budget (in 2025, the SM is 50,851 tenge).
For beneficiaries of certain categories: individuals with permanent disability groups 1 or 2, as well as those who worked in hazardous and dangerous industries, whose savings were formed through compulsory occupational pension contributions for at least sixty months, the Methodology provides for adjustment factors that increase the monthly pension benefit amount. For individuals who meet more than one of the above conditions, the adjustment factor with the highest value is applied.
Pension benefits from the UAPF are paid until the pension savings in the individual pension savings account are depleted.
Effective January 1, 2026, the employer's compulsory pension contribution rate (ECPC) increased to 3.5% of employee income (the ECPC rate increases annually in stages: 1.5% in 2024, 2.5% in 2025, 3.5% in 2026, 4.5% in 2027, and 5% in 2028).
As a reminder, effective January 1, 2024, Kazakhstan's funded pension system was supplemented with a new component: employer's compulsory pension contributions (ECPC). According to the adopted amendments, each employer is required to transfer to the UAPF, in addition to the compulsory 10% contribution of employee income, additional contributions from their own funds for the benefit of their employees born after January 1, 1975.
The amount from which the ECPC is calculated cannot be less than the minimum wage (MW) or exceed 50 times the MW established for the relevant year. Persons of retirement age, those with permanent disabilities of groups 1 and 2, military personnel, and persons born before January 1, 1975, are exempt from paying the ECPC.
Effective January 1, 2026, in connection with the entry into force of the new Tax Code of the Republic of Kazakhstan and amendments to the Social Code of the Republic of Kazakhstan, updated special tax regimes (STRs) were introduced in Kazakhstan: STRs for the self-employed, STRs based on a simplified tax return, and STRs for peasant or farm households (PFHs). These regimes regulate not only the payment of taxes by self-employed citizens but also compulsory pension contributions.
The implementation of the STR for the self-employed, the STR based on a simplified tax return, and the STR for peasant farms aims to:
These innovations will enable the accumulation of pension savings, ensure social security for working citizens, and create incentives for them to come out of the shadow economy.
5) What types of “special tax regimes” have been introduced?
The STR for the self-employed, which will be implemented starting in 2026, is intended for individuals (Kazakhstan citizens, qandas) who are not individual entrepreneurs (IEs) and do not employ employees. The STR for the self-employed applies to a limited list of activities approved by the Government of the Republic of Kazakhstan.
The income limit for self-employed individuals applying the STR for a calendar month must not exceed 300 times the monthly calculation index (MCI) in effect as of January 1 of the relevant financial year (3,600 MCI per year).
Self-employed individuals applying this STR independently pay mandatory pension contributions (CPC) and employer mandatory pension contributions (ECPC) on their income.
The STR pension contribution rates for the self-employed are:
Self-employed individuals will apply this STR using a dedicated mobile app, based on their receipts and other information on income received from other sources. Income recording in areas without a public telecommunications network under the STR for self-employed individuals is maintained using a simple form developed independently by the individual, indicating the date, transaction type, amounts received for each transaction, and the total amount for each day and month.
For self-employed individuals applying STR and operating through internet platforms and/or mobile apps for platform employment, the internet platform operator will withhold and transfer CPC and ECPC.
Individual entrepreneurs and legal entities resident in the Republic of Kazakhstan may use the STR based on a simplified tax return, with the exception of taxpayers specified in paragraph 2 of Article 723 of the Tax Code of the Republic of Kazakhstan (legal entities in which the shareholding of other legal entities exceeds 25 percent, non-profit organizations, participants in special economic and industrial zones, etc.).
The following entities may use the STR based on a simplified tax return under certain conditions:
- whose maximum income for the calendar year does not exceed 600,000 times the minimum calculation index (MCI) in effect as of January 1 of the relevant financial year;
- those engaged in activities not included in the list established by the Government of the Republic of Kazakhstan for which the use of the STR based on a simplified tax return is prohibited.
The standard contribution rates for STRs based on the simplified declaration are:
Peasant farm enterprises (PFEs) may apply the STR for peasant farm enterprises (PFEs) if they own and/or use land plots in Kazakhstan (including secondary land use rights).
The selected STR for a PFE is not subject to change during the calendar year, except in cases where the PFE's activities no longer meet the conditions for its application.
The STR pension contribution rates for PFEs are:
Payment of CPC, ECPC under the STR for the self-employed, STR based on a simplified declaration, and STR for PFEs is due no later than the 25th day of the month following the month in which income is received.
ANNOUNCEMENT
The return on pension assets for the last 12 months exceeds inflation
As of April 1, 2025, the return on pension assets managed by the National Bank of the Republic of Kazakhstan (NBRK), formed through mandatory, mandatory professional and voluntary contributions, for the last 12 months, distributed to the accounts of contributors (beneficiaries), was 11.99%, while the return on assets from employer’s mandatory pension contributions was 7.37%, with inflation at 10.00%.
The investment income trend over the last 3 years shows steady growth with the return on pension assets exceeding the inflation rate.
As is well known, the amount of investment income varies depending on the situation in the financial and currency markets. Several factors influence the level of investment income:
It is important to note that pension savings are long-term investments intended primarily to provide benefits after the end of employment. The pension assets of the fund have a long investment horizon and the main goal of investing is to achieve real returns over the long term. Therefore, to objectively assess the results of managing these assets, data for at least 1 year should be analyzed. This period allows for an evaluation of investment effectiveness in a long-term perspective. Short-term data (weekly, monthly, etc.) is not representative, as it depends on constant short-term changes in market conditions. Diversification of the investment portfolio, where income from some instruments offsets temporary losses from others, ensures the preservation and stable return of pension savings in the long term.
Thus, in the medium and long term, a positive real return on pension savings, which exceeds accumulated inflation is ensured. Since the foundation of the fully funded pension system in 1998, as of April 1, 2025, on an accrual basis the accumulated return amounted to 958.64% with inflation for the whole period of 863.96%.
The net investment income accumulated since 2014 (after the consolidation of pension assets in the UAPF) as of April 1, 2025, amounted to 11.38 trillion tenge. Taking into account the payments made, the share of accumulated net investment income in the total amount of pension savings of Kazakhstanis as of April 1, 2025, is 39.6%, which demonstrates the significant role of investment activities in the structure of savings of citizens.
It should be reminded that in Kazakhstan there is a unique guarantee of safety of mandatory pension contributions taking into account the inflation rate. In cases of decrease in profitability in a particular period, which affected the accumulated profitability of the contributor at the onset of the right to payments, there is a guaranteed compensation for the difference by the state.
The whole system of investment management and accounting of pension assets is transparent: each contributor has the opportunity to see his investment income in his personal cabinet on the website www.enpf.kz or in the mobile application.
Information on investment management of the pension assets of the UAPF and its financial instruments in which the pension assets of the UAPF are placed is published on the official website of the UAPF (www.enpf.kz) in the section “Statistics and analytics/Investment management of pension assets”.
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 professional 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).
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ANNOUNCEMENT |
UAPF presents pension investment report as of 1 April 2025
UAPF JSC (hereinafter referred to as UAPF) presents a report on the management of pension assets by the National Bank of the Republic of Kazakhstan (hereinafter referred to as NBRK) and investment portfolio managers (hereinafter referred to as IPM) on the enpf.kz website in the section "Indicators - Investment activities".
The total volume of pension assets as of April 1, 2025, under the management of the NBRK and IPM amounted to KZT22,723.37 billion. As of this date, UAPF pension assets under the trust management of the NBRK, formed through compulsory pension contributions (hereinafter referred to as CPC), compulsory occupational pension contributions (hereinafter referred to as COPC), voluntary pension contributions (hereinafter referred to as VPC), amounted to about KZT22,333.29 billion[1]. The volume of pension assets formed by employer’s compulsory pension contributions of the (hereinafter referred to as ECPC), which are in trust management of the NBRK, is KZT327.30 billion.
Pension assets under the management of the IPM amounted to more than KZT62.78 billion.
Investment portfolio of pension assets managed by the National Bank of the Republic of Kazakhstan
The National Bank, as a trustee of the UAPF pension assets, pursues a balanced investment policy: invests in various types of financial instruments by currencies, countries, sectors and issuers.
The main areas of investment of pension assets formed through the CPC, COPC, VPC, as of April 1, 2025, are as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan - 41.59%, bonds of quasi-public companies - 8.88%, deposits of the NBRK - 3.86%, bonds of second-tier banks of the Republic of Kazakhstan - 3.16%, shares and depositary receipts of issuers of the Republic of Kazakhstan - 1.51%, IFOs - 1.38%.
The investment portfolio broken down by currencies in which financial instruments acquired through CPC, COPC, and VPC are denominated as of April 1, 2025, looks like this: investments in national currency - 59.94%, in US dollars - 40.05%, in other currencies - 0.01% of the pension asset portfolio.
From the analysis of the structure of the income received, it follows that the income in the form of interest on securities, including on placed deposits and reverse repo transactions, amounted to KZT433.21 billion. The market revaluation of securities, foreign currency, on assets under external management was negative. Other income amounted to KZT2.89 billion.
Despite short-term fluctuations in return, over the past 12 months from April 2024 to March 2025, the amount of accrued investment income amounted to about KZT2.37 trillion, the yield for this period was 11.99% with inflation at 10.00%.
The investment directions of ECPC as of April 1, 2025 are as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan - 80.02%, repo transactions - 16.39%, deposits of the National Bank of the Republic of Kazakhstan - 3.10%.
The investment portfolio due to ECPC includes only financial instruments denominated in the national currency.
As of April 1, 2025, the return on pension assets due to ECPC over the past 12 months was 7.37%.
Let us remind you that pension savings are long-term investments. Therefore, it is advisable to analyze the amount of investment income for a period of at least one year. In certain periods, a decrease in profitability may be observed due to the volatility of foreign exchange rates, changes in the market value of financial instruments, as well as the impact of inflation. Diversification of the investment portfolio, when the income on some instruments covers temporary losses on others, ensures the safety and stable profitability of pension savings in the long term. Thus, investment income in dynamics over the last 3 years shows stable growth, the return on pension assets exceeds the inflation rate.
A detailed structure of the investment portfolio of financial instruments managed by the NBRK, indicating issuers, and an overview of investment activities are posted on the official website of UAPF. Information on the portfolio structure for pension assets formed through ECPC is also posted on the website enpf.kz.
Investment Portfolio Managers
The total volume of pension assets under the management of IPM is more than KZT62.78 billion.
As of 01.04.2025, pension assets under the trust management of Jusan Invest JSC amounted to KZT11.40 billion.
The company's main investments: Exchange Traded Funds (ETF) - 21.90%, Government Securities of the Ministry of Finance of the Republic of Kazakhstan - 19.37%, bonds of second-tier banks of the Republic of Kazakhstan - 19.14%, Repo - 8.83%, corporate bonds of foreign issuers - 8.04%, IFOs - 6.23%, corporate bonds of issuers of the Republic of Kazakhstan - 6.12%, Government Securities of foreign states - 4.81%. It should be noted that 66.49% of the portfolio is presented in tenge, 32.15% - in US dollars, 1.36% - in other currencies.
As of April 1, 2025, the return on UAPF pension assets over the past 12 months, distributed to the accounts of contributors (beneficiaries), amounted to 14.21%.
A detailed structure of the investment portfolio of financial instruments managed by Jusan Invest JSC, indicating the issuers, is presented on the UAPF website.
As of 01.04.2025, pension assets under trust management of Halyk Global Markets JSC amounted to approximately KZT5.30 billion.
The main investments in the portfolio structure are as follows: "reverse repo" (up to 90 calendar days) - 18.96%, government securities of the Ministry of Finance of the Republic of Kazakhstan - 16.25%, corporate bonds of foreign issuers - 14.46%, bonds of second-tier banks of the Republic of Kazakhstan - 11.66%, corporate bonds of organizations of the Republic of Kazakhstan - 11.13%, bonds of quasi-public organizations of the Republic of Kazakhstan - 9.20%, equity instruments of foreign issuers (ETF units) - 7.79%, securities with government status issued by the central governments of foreign states - 4.94%. Investments in national currency accounted for 69.11% of the portfolio, in US dollars - 30.89%.
As of April 1, 2025, the return on UAPF pension assets over the past 12 months, distributed to the accounts of contributors (beneficiaries), amounted to 15.55%.
A detailed structure of the investment portfolio of financial instruments managed by Halyk Global Markets JSC, indicating the issuers, is presented on the UAPF website.
As of April 1, 2025, UAPF pension assets under the trust management of BCC Invest JSC amounted to more than KZT5.94 billion.
Main investment areas: bonds of quasi-public organizations of the Republic of Kazakhstan - 23.52%, bonds of the second-tier banks of the Republic of Kazakhstan - 23.49%, government securities of the Ministry of Finance of the Republic of Kazakhstan - 10.79%, corporate bonds of issuers-residents of the Republic of Kazakhstan - 15.35%, repo - 8.75%, corporate bonds of foreign issuers - 8.32%.
Investments in national currency amounted to 77.89% of the portfolio, in US dollars - 22.11%.
As of April 1, 2025, the yield on UAPF pension assets over the past 12 months, distributed to the accounts of contributors (beneficiaries), amounted to 16.64%.
A detailed structure of the investment portfolio of financial instruments managed by BCC Invest JSC, indicating the issuers, is available on the UAPF website.
As of 01.04.2025, UAPF pension assets under trust management of Centras Securities JSC amounted to KZT2.19 billion.
23.50% were invested in government securities of the Ministry of Finance of the Republic of Kazakhstan, corporate bonds of issuers of the Republic of Kazakhstan - 21.15%, bonds of quasi-public organizations - 16.63%, bonds of second-tier banks of the Republic of Kazakhstan - 10.65%, repo - 9.08%, US government bonds - 6.81%, shares and depositary receipts of issuers-residents of the Republic of Kazakhstan - 4.53%.
Investments in national currency amounted to 76.45% of the portfolio, in US dollars - 23.55%.
As of April 1, 2025, the return on UAPF pension assets over the past 12 months, distributed to contributor (beneficiaries) accounts, was 13.85%.
A detailed structure of the investment portfolio of financial instruments managed by Centras Securities JSC, indicating the issuers, is presented on the UAPF website.
As of April 1, 2025, pension assets under the trust management of "Halyk Finance" SO of Halyk Bank of Kazakhstan JSC amounted to about KZT37.95 billion.
The main investments in the portfolio structure are as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan - 24.48%, corporate bonds of issuers of the Republic of Kazakhstan - 13.51%, corporate bonds of foreign issuers - 10.39%, bonds of second-tier banks of the Republic of Kazakhstan - 11.27%, units of Exchange Traded Funds (ETF) - 8.48%, government securities of foreign states - 8.76%, bonds of quasi-public organizations of the Republic of Kazakhstan - 6.49%, "reverse repo" (no more than 90 calendar days) - 5.31%.
62.06% of the portfolio is invested in instruments in national currency, 37.94% in US dollars.
As of April 1, 2025, the yield on UAPF pension assets over the past 12 months, distributed to contributors (beneficiaries) accounts, amounted to 14.88%.
A detailed structure of the investment portfolio of financial instruments managed by "Halyk Finance" SO of Halyk Bank of Kazakhstan JSC with the indication of issuers is presented on the UAPF website.
We remind you that from July 1, 2023, contributors can transfer no more than 50% of pension savings through compulsory pension contributions (CPC) and compulsory occupational pension contributions (COPC) to trust management without taking into account the minimum sufficiency threshold by the investment portfolio manager (IPM), choosing such a company independently. Contributors who have voluntary pension savings can transfer them to their IPM in the amount of 100%.
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] excluding money in pension contribution and benefit accounts
ANNOUNCEMENT
More than 16.5 million services have been provided to UAPF since the beginning of 2025
The Unified Accumulative Pension Fund continues to actively provide a wide range of services aimed at supporting and informing its clients. In the period from 01.01.2025 to 31.03.2025, about 16.5 million services were provided to the population. Of the total number of services provided since the beginning of the year, more than 7.0 million were provided electronically, and more than 9.0 million automatically. Thus, the share of services provided in automatic, electronic and remote formats amounted to 98.4% of the total. About 262.7 thousand services were provided in person, including more than 255.0 thousand directly in the Fund's offices.
We remind you that all pension savings accounts are opened in UAPF automatically upon receipt of the first contribution. Target requirements and target savings are also automatically accrued to participants in the National Fund for Children program.
In total, during the reporting period, the total number of individual pension savings accounts (IPSA) opened automatically for all types of pension contributions, including notional pension accounts (NPSA, opened as a result of the transfer of ECPC by the employer) and target savings accounts (TSA, within the framework of the National Fund for Children program) amounted to 627.6 thousand.
The most popular service is still obtaining statements from individual pension accounts, notional pension accounts (NPSA), as well as target savings accounts (TSA). Since the beginning of the year, about 7.7 million statements have been issued from IPSA, NPSA, TSA, of which more than 6.4 million were in electronic form and more than 1.1 million automatically. UAPF reminds that obtaining information about the status of accounts through your personal account is the most convenient, reliable and prompt way to control your pension savings. The service operates online around the clock (24/7), which allows you to receive up-to-date information at any time and from anywhere in the world. Also, information about the status of accounts is available not only through your personal account on the UAPF website, but also through the egov.kz portal or the e-government mobile application. This provides additional convenience for users who prefer to interact with government services through a single platform.
In addition to receiving a statement in their personal account on the website and in the mobile application, contributors (beneficiaries) have the opportunity to use such services as making changes and additions to their details, receiving a certificate of the availability of accounts, filing an application for the appointment of pension benefits in connection with the establishment of disability of group 1 or 2 indefinitely or for voluntary pension contributions, tracking the status of an application for pension benefit, transferring part of the savings to the investment portfolio manager (IPM), predicting the future pension using a pension calculator, etc. 24/7 anywhere in the world.
More than 38.4 thousand applications were received to change the details for January-February 2025, of which more than 35.5 thousand were submitted to the Fund's offices.
When applying for a particular service to UAPF specialists, contributors, as a rule, receive additional consultations and advice on how to form savings. As part of the information and explanatory work, more than 10.2 thousand on-site presentations were held, attended by about 212.0 thousand people. More than 11.2 thousand materials on UAPF messages were posted in the media.
The number of requests received from contributors and beneficiaries through feedback channels amounted to about 165.8 thousand.
We remind you that any company can apply for a presentation and consultations on the funded pension system with a visit to the office, for which you just need to call the call center at 1418 or contact through the Fund's website or mobile application.
UAPF consulting services can be obtained via instant messengers (chat bot in WhatsАpp 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, X (Twitter), 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)
Current questions about UAPF
Payment of pension savings from UAPF according to the schedule: how pension benefits are calculated and where to apply
Monthly pension benefits according to the established schedule from the UAPF in accordance with the Social Code of the Republic of Kazakhstan are paid to persons who have pension savings at the expense of the CPC and (or) the COPC in the UAPF:
- who have reached retirement age (men - 63 years old, women - 61 years old);
- with disability of group 1 or 2, established indefinitely;
- who have reached 55 years old, if the COPC has been paid in their favor in total at least 84 calendar months at the time of applying for a pension benefit, subject to termination of employment in jobs with hazardous working conditions or upon transfer to another job that excludes exposure to harmful factors (hereinafter - persons who have reached 55 years old, for whom the COPC has been paid in total for at least 84 calendar months), in the manner determined by the Government of the Republic of Kazakhstan.
Pension benefits according to the schedule are calculated as follows: in the first year of receiving benefits, the amount of pension savings is multiplied by the pension benefit rate of 6.5% and divided by 12. In subsequent years, the amount of the monthly pension benefit is increased by the pension benefit indexation rate of 5%. In this case, the monthly pension benefit payment from the UAPF is made in the amount of at least 70% of the subsistence minimum (hereinafter - SM) established for the relevant financial year by the law on the republican budget (in 2025, the SM is 46,228 tenge), with the exception of persons who have reached 55 years of age, for whom COPC has been paid in total for at least 84 calendar months.
For beneficiaries of certain categories: persons with disabilities of groups 1 or 2, established indefinitely, as well as persons who have reached retirement age and have pension savings formed through compulsory occupational pension contributions in total for at least sixty months, the Methodology provides for correction factors that increase the amount of the monthly pension benefit. For persons who meet more than one of the above conditions, the correction factor with the highest value is applied.
If the amount of pension savings on the date of payment from the UAPF does not exceed twelve times the minimum pension established by the law on the republican budget for the relevant financial year (in 2025, 753,252 tenge = 62,771 x 12), the payment is made in a lump sum.
Correction factors do not apply to persons who have reached 55 years of age, for whom COPC has been paid in total for at least 84 calendar months.
To assign pension benefits from the UAPF at the expense of mandatory types of pension contributions in connection with reaching the retirement age, as well as the assignment of a basic and PAYG pension from the state budget, beneficiaries must promptly contact the State Corporation "Government for Citizens" (PSC) at their place of residence. This can be done 10 days before reaching the retirement age. All types of pension benefits are made from the date of application. In this case, the day of application is considered to be the day of registration of the application and the necessary documents in the PSC, provided that the beneficiary has reached the retirement age, if he applied earlier - the day of application is considered to be the day of reaching the retirement age. Timely application is especially important for receiving benefits from the budget, for the assignment of which it is necessary to verify the work experience based on the documents submitted by the beneficiary.
For payment of pension savings in connection with the establishment of disability, you must contact the UAPF departments either through your personal account on the website (enpf.kz) or in the UAPF mobile application using an electronic digital signature.
Please note that UAPF has organized on-site services for persons with disabilities. In this case, a preliminary consultation is carried out, including checking the possibility of receiving services remotely, without leaving.
Pension benefits at the expense of compulsory occupational pension contributions to persons who have reached 55 years of age, for whom COPC has been paid in total for at least 84 calendar months, are assigned through the provision of a proactive service within the framework of the assignment of a special social payment or by applying to the State Corporation with the presentation of an identity document, as well as information about the bank account.
If the said person has pension savings formed at the expense of compulsory pension contributions, then this person may be assigned additional pension benefits from the UAPF at the expense of compulsory pension contributions, if he or she consents to receive them
Future pensioners (potential beneficiaries), whose phone numbers are registered in the egov mobile citizens database, receive an SMS notification from number 1414 2 months before reaching retirement age about the possibility of timely contacting the nearest branch of the State Corporation to receive services for the appointment of pension benefits with a link to the list of documents on the egov.kz website. That is, government agencies send out relevant notifications to process pension benefits within the specified timeframes, since payments are not assigned for the missed period.
It is also worth noting that in order to provide a proactive service for paying pension benefits from UAPF to persons who have reached retirement age, who have pension savings due to CPC and (or) COPC in UAPF and have not applied for their benefit, UAPF conducts an annual reconciliation together with the State Corporation for the presence of assigned pension benefits by age and (or) state basic pension benefit at the expense of budgetary funds for these citizens. Based on the results of the annual reconciliation, when identifying persons who have assigned pension benefits from budgetary funds, UAPF pays pension benefits to them within the framework of the relevant agreement concluded with the State Corporation, i.e. without an application.