The net investment income accumulated since 2014 (after the consolidation of pension assets in the UAPF) as of May 1, 2025 amounted to KZT11.59 trillion. Taking into account the benefits paid, the share of accumulated net investment income in the total amount of pension savings of Kazakhstanis as of 01.05.2025 is 39.8%.

Thus, investment income forms a significant share in the pension savings of citizens. Over the past 10 years, there has been a significant increase in the efficiency of investing pension funds, which makes it possible to significantly increase the amount of savings of contributors (beneficiaries).

Let us remind you that pension savings in Kazakhstan are a strategic long-term investment tool aimed at ensuring the financial stability of citizens during retirement. Thanks to a flexible investment policy and asset diversification, the country's pension system demonstrates long-term sustainable growth and protection from inflation risks. Thus, the profitability of pension assets for individual short-term periods of time is not an indicator of the effectiveness of their management, since income in the form of remuneration for financial instruments and other transactions accrued over a short period of time does not always cover fluctuations in the value of securities and exchange rates for a given period. Therefore, it is advisable to make an objective analysis of the amount of investment income for a period of at least one year.

In the context of a constantly changing economic environment, the return on pension assets managed by the NBRK and formed through compulsory, compulsory occupational and voluntary contributions, for the last 12 months as of May 1, 2025, distributed to the accounts of contributors (beneficiaries), amounted to 13.35% with inflation at the rate of 10.70%. The return on pension assets for the same period due to mandatory pension contributions of the employer amounted to 9.03%.

In the medium and long term, a positive real (exceeding accumulated inflation) return on pension savings is ensured. Thus, the accumulated investment return from the inception of the funded pension system in 1998 until May 1, 2025, with a cumulative total, amounted to 968.60% with inflation for the entire period of 875.10%.

We also remind you that Kazakhstan has a unique guarantee of the safety of compulsory pension contributions, taking into account the inflation rate. In cases of a decrease in profitability in a particular period, which affected the contributor’s accumulated profitability upon the occurrence of the right to benefit payments, compensation for the difference is guaranteed by the state.

The entire system of investment management and accounting of pension assets is transparent: each contributor has the opportunity to see their investment income in their personal account on the website enpf.kz or in the mobile application.

Information on investment management of UAPF pension assets and on financial instruments in which UAPF pension assets are placed is published on the official website of UAPF (www.enpf.kz) in the section "Statistics and Analytics/Investment Management of Pension Assets".

Source : https://www.gov.kz/memleket/entities/vko-glubokoe/press/news/details/1007720?lang=kk