PRESS RELEASES

Within the framework of the funded pension system in Kazakhstan, the following types of contributions are made: compulsory (10% of the employee’s salary, deducted monthly by the employer), compulsory occupational pension contributions (5% of the income of workers in harmful and dangerous professions, which are paid from the employer’s budget), as well as employer’s compulsory pension contributions (ECPC) from 2024 for all employees born in 1975 and later (from 1.5% in 2024, gradually increasing to 5% in 2028). There are also voluntary pension contributions (VPC), which can be made by both individuals and legal entities. Individuals contribute funds for themselves and (or) for their loved ones at the expense of their income, and legal entities - for the benefit of their employees and (or) third parties. It is worth noting that citizens pay VPC on their own initiative, independently setting their size and frequency. This is one of the advantages of this type of contribution.

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 website enpf.kz in the section “Indicators - Investment activities”.

Key indicators of the UAPF as of March 1, 2024. 

As of March 1, 2024, pension savings in the amount of KZT18.5 trln were formed on individual and conditional accounts of contributors (beneficiaries) of the Unified Accumulative Pension Fund. Since the beginning of the year, their increase as of March 1, 2024 amounted to over KZT641 bln (3.6%). Compared to the same date last year, the volume of pension savings increased by almost KZT3.4 trln or 22.3%.

In the period from January 01, 2024 until February 29, 2024, the Unified Accumulative Pension Fund provided over 15.9 million services to the population. This is 3.5 times more than in the same period last year. Of the transactions carried out in electronic format - more than 4.2 million, in automatic format - 11.4 million, in remote format - 0.1 million. More than 214 thousand services were provided in person, including 201 thousand directly in the offices of the Fund.

This event has already become traditional and was carried out as part of outreach work among the population. The main agenda this time was the topic New in pension legislation: ECPC.

As part of outreach work among the population, on March 15, 2024, UAPF JSC will hold an Open Doors Day on the topic: “New in pension legislation: ECPC.”

In February 2024, the first payments began to be received into target savings accounts (hereinafter referred to as the TSA) in the UAPF for citizens who reached 18 years of age in 2024, within the framework of the National Fund for Children program. According to the program, 50% of the investment income of the National Fund of the Republic of Kazakhstan (hereinafter referred to as the National Fund) is annually distributed among child citizens of the Republic of Kazakhstan of all ages under 18 years old.

1. When, for whom and for what purpose were special social benefits introduced?

From January 1 of this year, in Kazakhstan, on behalf of the Head of State, in order to increase the social security of citizens of the Republic of Kazakhstan, foreigners and stateless persons permanently residing in the country, employed in hazardous working conditions, a special social benefit has been introduced, which will be carried out through the State Corporation “Government for citizens."

The Unified Accumulative Pension Fund provided 10.5 million services to the population from January 01, 2024 to February 01, 2024, which is 4 times more than the same period last year. Of these, more than 2 million were in electronic format, 8.3 million were in automatic format. More than 115 thousand services were provided in person, including about 107 thousand directly in the Fund’s offices.

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 website enpf.kz in the section “Indicators - Investment activities”.

Net investment income accrued to individual pension savings accounts of UAPF contributors for the first month of this year amounted to more than KZT109.6 billion. This figure is higher than the same period last year by KZT45.7 billion or 72%.

As of February 1, 2024, pension savings of Kazakhstanis amounted to more than KZT18.1 trillion. In the first month of 2024, their increase amounted to about KZT240.5 billion (1.3%). Compared to the same date last year, the volume of pension savings increased by KZT3.3 trillion (21.9%).