As of October 1, 2024, pension assets of Kazakhstanis in pension accounts in the UAPF amounted to about KZT21.2 trillion, demonstrating growth over 9 months of almost more than KZT3.3 trillion (or 18.5%). Over the year, pension assets grew by KZT4 trillion (or 23%).
Pension savings formed through compulsory pension contributions (CPC) amounted to about KZT20.4 trillion as of October 1, 2024, having increased by 22.2% over the year. The amount of pension savings due to compulsory occupational pension contributions (COPC) is more than KZT628.6 billion (growth over the year - 14.4%). The largest increase over the year (44.8%) was shown by savings on voluntary pension contributions (VPC), which amounted to more than KZT7.1 billion.
Since January 1, 2024, additional funds have been credited to the pension accounts of contributors (beneficiaries) – employer’s compulsory pension contributions (ECPC). For 9 months of 2024, the amount of pension savings due to MPC amounted to about KZT170 billion.
Incoming flows
Pension savings are growing due to incoming flows in the form of pension contributions and investment income. Pension contributions to contributors' accounts for January-September 2024 amounted to more than KZT2 trillion (an increase of 29.5% or KZT457.5 billion compared to the previous year's figure).
All types of contributions showed positive dynamics: about KZT1.8 trillion were received to individual pension saving accounts (IPSA) for recording the CPC from the beginning of the year as of 01.10.2024 (compared to the same period last year, the volume of CPC increased by 19.1%), COPC - more than KZT84.5 billion (an increase of 19%), VPC - more than KZT2.3 billion (an increase of 41.9%).
Net investment income accrued to individual and conditional pension saving accounts of UAPF investors from the beginning of the year as of October 01, 2024 amounted to about KZT2.1 trillion, which is higher than the same period last year by KZT716.3 billion (or 52.3 %).
Outgoing flows
Outgoing flows in the form of benefit payments for all types of contributions and transfers to insurance organizations from the UAPF for 9 months of 2024 amounted to KZT860 billion, which is KZT454.3 billion or 112% more than the volume of payments in the same period last year.
KZT375.1 billion tenge are lump sum pension benefit payments (LSPBP) for improving housing conditions and medical treatment.
Payments in connection with reaching retirement age amounted to more than KZT147.3 billion, which is 35.1% higher than last year.
During this period, inheritance payments were also made - KZT45.1 billion, payments in connection with leaving for permanent residence outside the Republic of Kazakhstan - more than KZT29.7 billion, payments to persons with disabilities - about KZT2.3 billion, funeral payments - more than KZT7.5 billion. The sum of more than KZT252.9 billion was transferred to insurance organizations.
The amount of the average monthly benefit from the UAPF in connection with reaching retirement age was KZT33,872, and the maximum amount of the monthly benefit was KZT945,752.
Number of IPSA
The total number of pension savings accounts in the UAPF as of October 1, 2024 was more than 16.8 million units. At the same time, the number of individual pension savings accounts of contributors (beneficiaries) in the UAPF as of October 1, 2024 was over 12.4 million units, of which: 11.1 million - of CPC, 701.4 thousand - of COPC, 430.8 thousand – of VPC.
The number of notional pension accounts in the UAPF, which record information on received ECPC in accordance with the legislation of the Republic of Kazakhstan, was about 4.4 million units.
All up-to-date information on statistical data on pension assets, including by region of the republic, is posted on the enpf.kz website in the "Indicators" section.
