PRESS RELEASES

The pension system in Kazakhstan provides contributors (beneficiaries) with more and more opportunities to participate in the planning of pension capital and their material security after the end of employment. A competitive environment is being formed in the field of asset management with the possibility of their transfer to an investment portfolio manager (IPM) and the choice of different investment strategies. Subject to the sufficiency of pension savings, before the retirement age, they can be used to improve housing conditions or pay for medical treatment. The most far-sighted contributors (beneficiaries) when forming their future pension, in addition to the compulsory types of contributions, add voluntary.

The world leader among insurance companies and asset managers Allianz has released a new edition of its Global Pensions Report (API), according to which Kazakhstan's pension system has been assigned an API rating of 3.5 points as a result of an analysis of 75 pension systems around the world. Kazakhstan is ahead of its neighbors in the CIS, as well as Spain, Chile, Singapore, the United Arab Emirates and other countries. These results imply that Kazakhstan's pension system is slightly above average in terms of pension sustainability and adequacy compared to other countries analyzed by Allianz.

The UAPF annually, together with the Government for Citizens State Corporation (State Corporation), conducts a reconciliation to identify persons who have reached retirement age and have pension savings in the UAPF, while receiving pension benefits by age at the expense of budgetary funds, but who have not applied for benefit to UAPF.

The UAPF informs its contributors (recipients) that individuals who have pension savings in the UAPF, formed from:

mandatory pension contributions and/or mandatory professional pension contributions, and have a first or second group disability status established indefinitely, or

voluntary pension contributions, and have a disability status regardless of group and duration of disability,

have the right to receive pension payments according to the established schedule until the general retirement age is reached.

The UAPF informs its contributors and recipients about the increasing cases of scammers spreading unreliable information on social networks. 

By using social networks and WhatsАpр messaging, scammers are writing about the possibility of withdrawing pension savings without taking into account the minimum pension savings threshold (MPST) during the period from June to September of this year. This message is fake and does not correspond to reality.

The 23rd meeting of the Public Council under the UAPF was held on April 25 this year.

The agenda included a report on the investment of pension assets, presented by the National Bank of the Republic of Kazakhstan as a trustee.

Electronic services that do not require a personal appeal of citizens to the UAPF branches remain popular in Kazakhstan. They are accessible and convenient, many contributors prefer to use them 24/7 in the Personal Account on the enpf.kz website, in the mobile application.

The net investment income accrued to the accounts of UAPF contributors for the period from January to March 2023 amounted to KZT336.3 billion, which exceeds the figures for the same period last year by KZT44.6 billion or 13%. The yield on UAPF pension assets managed by the National Bank of Kazakhstan over the past 12 months amounted to 6.63%.

Key indicators of UAPF as of April 1, 2023. 

Increasing every year, pension contributions and the investment income accrued on them form a financial safety cushion, demonstrating the stability and reliability of the pension system of Kazakhstanis.

Since the beginning of the year, UAPF specialists have processed about 130,000 applications remotely.

UAPF provides services to contributors and recipients through various communication channels. The most convenient of them is through the Personal Account on the enpf.kz website (you can read about it here)

1. In the statement from the pension account, the amount of deductions starts from 2013. How can I get information about deductions for previous years?

The UAPF was established in 2013 on the basis of the State Accumulative Pension Fund (GNPF APF JSC). Pension assets and liabilities of all private funds were transferred to UAPF.

As you know, our pension savings consist of pension contributions and accrued investment income. The investment of pension assets is carried out by the National Bank of the Republic of Kazakhstan, and from 2021 - by investment portfolio managers (IPM). The main purpose of such trust management of pension savings through compulsory pension contributions (CPC) and (or) compulsory occupational pension contributions (CPPC) is to invest in various financial instruments and generate income.