Kazakhstanis' investment income exceeded 2.8 trillion tenge over the 12 months.

Investors' investment income is generated through the management of pension assets by the National Bank of Kazakhstan (NBRK) and private investment portfolio managers (PIMs).

Based on the NBRK's investment activities in managing pension assets generated by mandatory pension contributions (MPCs), mandatory professional pension contributions (MPPCs), and voluntary pension contributions (VPCs), the accrued investment income for the last 12 months from June 2025 to May 2026 amounted to approximately 2.71 trillion tenge, with a return of 11.46% over this period.
For pension assets formed through mandatory employer pension contributions (MPEC), accrued investment income as of June 1, 2026, over the past 12 months amounted to 115.29 billion tenge, with a return of 17.12% for this period.
It is important to note that the return on pension assets for individual short-term periods is not an indicator of their management effectiveness, as income in the form of remuneration on financial instruments and other transactions accrued over a short period does not always cover fluctuations in the value of securities and exchange rates over a given period. Therefore, it is advisable to objectively analyze the amount of investment income over a longer period.
The accrued investment return since the inception of the funded pension system in 1998 as of June 1, 2026, with a cumulative total of 1,095.39%, with inflation for the entire period at 986.70%.
As of June 1, 2026, the net investment income earned by the NBRK since April 1, 2014 (following the consolidation of pension assets into the ENPF) amounted to 10.94 trillion tenge. Taking into account payments made, its share of the total pension savings of depositors (recipients) is 41.2%, demonstrating the significant role of investment activity in the structure of citizens' savings.
As a reminder, depositors have the right to transfer a portion of their pension assets (up to 50% of pension savings from the mandatory pension fund (OPV), the mandatory pension fund (OPV), and up to 100% of pension savings from the voluntary pension fund (DPF)) to a private investment portfolio manager (PIM) that meets the regulator's requirements.

Depositors can choose one of three investment portfolios within which the PIM operates:
• the Ki (12) portfolio, which is suitable for all depositors, regardless of age. The minimum return on this portfolio is assessed over the past 12 months;
• The Ki (36) portfolio, which is designed for those with at least three years left until retirement. The minimum return is calculated based on a 36-month period;
• The Ki (60) portfolio, which is designed for investors with a long-term horizon (more than 13 years until retirement). The minimum return is calculated based on a 60-month period.

The entire investment management and pension asset accounting system is transparent: each investor can view their investment income in their personal account on the enpf.kz website or in the mobile app.

Information on the investment management of ENPF pension assets and the financial instruments in which ENPF pension assets are invested is published on the official ENPF website (www.enpf.kz) in the "Statistics and Analytics/Investment Management of Pension Assets" section, as well as on the invest.enpf.kz portal.

Source : https://www.gov.kz/memleket/entities/social-abay/press/news/details/1266042?lang=ru