(2 March 2026 | Source: press service of the National Bank)
Over the year, the pension savings of Kazakh citizens have generated investment income of more than two trillion tenge. The regulator notes that short-term indicators may fluctuate due to changes in exchange rates and the value of financial instruments.
ANNUAL INCOME
According to the National Bank of the Republic of Kazakhstan (NBRK), for the period from February 2025 to January 2026, the accrued investment income on pension assets, resulting from investment activities and changes in the market value of financial instruments, amounted to approximately 2.28 trillion tenge. The return for this period was 9.74%.
The NBRK points out that results over short periods do not reflect the full picture of asset management, as income from financial instruments and currency fluctuations can significantly affect the indicators.
OVERALL INDICATORS
Since the launch of the funded pension system in 1998, the total investment return has been 1,173.15%, with inflation over the same period at 952.32%.
After the consolidation of pension assets in the Unified Accumulative Pension Fund (UAPF) in 2014, net investment income totalled 13.99 trillion tenge.
Taking into account payments made, its share of the total pension savings of contributors is 41.5%.
MANAGEMENT OF SAVINGS
Contributors may transfer part of their pension savings to private investment portfolio managers:
- up to 50% of funds from compulsory pension contributions;
- up to 100% of funds from voluntary pension contributions.
The investment declarations of private managers provide for a broader range of instruments, with a higher level of risk associated with such investments.
GUARANTEES AND ACCESS TO INFORMATION
In Kazakhstan, there is a guarantee for the preservation of compulsory pension contributions under the management of the NBRK, taking inflation into account. If returns decrease in a given period, compensation for the difference may be possible when the right to payments arises.
Information on investment income is available to contributors in their personal account on the UAPF website and in the fund's mobile application.