The growth of pension savings of Kazakhstanis has exceeded KZT2 trillion since the beginning of the year

As of September 1, 2023, pension savings in the amount of KZT16.76 trillion were formed in
individual accounts of UAPF contributors (beneficiaries). Since the beginning of the year, their increase
as of September 1, 2023 amounted to KZT2.1 trillion (14.3%). Compared to the same date last year, the
volume of pension savings increased by KZT2.8 trillion (20%).
The amount of pension contributions for 8 months of 2023 amounted to KZT1,374.8 billion,
which is 25% or KZT278.28 billion higher than last year. An increase compared to the same period last
year occurred in compulsory pension contributions (CPC) - 25%, compulsory occupational pension
contributions (COPC) - 26%
96.79% of the savings of Kazakhstanis was formed through CPC. As of September 1, 2023, the
volume of CPC amounted to KZT16.22 trillion (an increase over the year - 19.7%, since the beginning
of the year - 14.1%). The amount of pension savings under COPC amounted to KZT532.51 billion,
having increased by 28% since September 1 of last year, and by 19.6% since the beginning of this year.
The maximum increase (57.7% per year) was demonstrated by savings on voluntary pension
contributions (VPC), the volume of which amounted to KZT4.71 billion.
Net investment income accrued to individual pension saving accounts of UAPF contributors since
the beginning of the year amounted to about KZT1,035.1 billion.
The number of individual pension saving accounts in the UAPF as of September 1, 2023 was at
the level of 12.25 million units, including about 11.04 million for CPC, 626.3 thousand for COPC,
384.5 thousand for VPC.
Since the beginning of the year, the UAPF has paid out about KZT350.78 billion. Old age
benefits as of September 01, 2023 increased by 27% compared to the same period last year and amounted
to KZT96.69 billion (share in total benefits - 27.56%), lump sum pension benefits for improving housing
conditions and medical treatment - KZT169.15 billion (share in total payments – 48.22%).
Also, since the beginning of the year, inheritance payments have been made KZT34.97 billion
tenge, payments in connection with leaving for permanent residence outside Kazakhstan - KZT26.64
billion, disability benefits - KZT1.8 billion, burial payments - KZT4.38 billion. KZT17.09 billion was
transferred to insurance organizations.
The average monthly pension benefit according to the schedule from the UAPF (in connection
with reaching retirement age) was 32,120 tenge, and the maximum monthly pension benefit amounted to
742,692 tenge. Let us remind you that for the same period last year, the average monthly payment
according to the schedule was 29,859 tenge, the maximum - 707,326 tenge.
All relevant information on statistical data on pension assets, including by region of the republic,
is posted on the enpf.kz website in the “Indicators” section.

The UAPF was established on August 22, 2013 on the basis of GNPF APF JSC. The UAPF founder and shareholder 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. UAPF pension assets are managed by the National
Bank of the Republic of Kazakhstan. From January 1, 2016, the functions for developing proposals to improve the
management of pension assets were transferred to the National Fund Management Council. In accordance with the pension
legislation, the UAPF attracts compulsory pension contributions, compulsory occupational pension contributions, voluntary
pension contributions, pension benefits, individual accounting of pension accumulations and benefits, provides the contributor
(beneficiary) with information on the status of his pension accumulations (for more information visit www.enpf.kz)