PRESS RELEASES

From January 1, 2024, the savings system of Kazakhstan has been supplemented with a new component – employer’s compulsory pension contributions (ECPC).

695.5 million US dollars were accrued to 6,919,131 children (children born from January 01,2006 to December 31, 2023 inclusive). Of this, more than $30.6 million was credited to the target savings accounts of 304,815 program participants who turn 18 in 2024 (children born from January 1, 2006 to December 31, 2006 inclusive).

In 2023, the accounts of UAPF contributors received net investment income of about KZT1.6 trillion, which exceeds the last year figure by KZT685.4 billion or 77.7%.

The Unified Accumulative Pension Fund for 12 months of 2023 (from January 01, 2023 to December 31, 2023) provided its contributors with 24.8 million services, of which 17.4 million in electronic format, 5.5 million in automatic format. 1.2 million transactions were carried out in person, including more than 1 million directly in the Fund’s offices.

UAPF JSC recalls that from January 1, 2024, several key innovations in the legislation of the Republic of Kazakhstan came into force:

1. Will those minors who will turn 18 in 2024 be included in the National Fund for Children Program and what amount will they receive? 

All children who are citizens of the Republic of Kazakhstan are included in the Program (as of the end of December 31, 2023) and are its participants. Children who will turn 18 during 2024 will receive their accrued target requirements for 2023 (the year in which the child has not yet reached 18 years of age) in the form of target savings to their target savings accounts opened with the UAPF.

As part of the implementation of the Corporate Development Strategy of UAPF JSC for 2022-2026, which includes, among other things, tasks for further improvement of pension services taking into account the introduction of a proactive format, UAPF JSC, to help the contributor, is launching a new tool for planning a future pension - a personal pension savings plan.

From January 1, 2024, payments from the UAPF to pensioners who retired after January 1, 2018 increased by 5%.