Akimat of the Aksu district
Akim's apparatus of Aksu area provides organizational, legal, information-analytical, consultative and material-technical support of activity of akimat and akim of the district, and implementation of state policy in the field of information management and the provision of public services.
Documents
Overview of the Investment Portfolio Managed by the NBRK and IPMs as of 1 October 2026
Overview of the Investment Portfolio Managed by the NBRK and IPMs as of 1 October 2026 The enpf.kz website has published a report on the management of pension assets by the NBRK and IPMs as of 1 October 2026 JSCUnified Accumulative Pension Fund (UAPF, the Fund) presents a report on the management of pension assets by the National Bank of the Republic of Kazakhstan (NBRK) and Investment Portfolio Managers (IPMs) on its website, enpf.kz, under the section "Statistics and Analytics – Investment Management of Pension Assets." As of 1 October 2026,the total amount of pension assetsmanaged by the NBRK and IPMs amounted to KZT 28 267.61 billion. As of that date, UAPF pension assets held in trust management by the NBRK and formed from mandatory pension contributions (MPCs), mandatory occupational pension contributions (MOPCs), and voluntary pension contributions (VPCs) amounted to approximately KZT 26 633.21 billion¹. Pension assets formed from mandatory employer pension contributions (MEPCs) and held in trust management by the NBRK amounted to KZT 1 428.29 billion. Pension assets under the management of IPMsamounted to KZT 206.11 billion. Investment Portfolio of Pension Assets Managed by the NBRK The NBRK, acting as the trustee manager of UAPF pension assets, pursues a balanced investment policy by investing in various types of financial instruments and diversifying the portfolio across currencies, countries, sectors and issuers. According to information provided by the NBRK, the main areas of investment of pension assets formed from mandatory pension contributions (MPCs), mandatory occupational pension contributions (MOPCs) and voluntary pension contributions (VPCs) as of 1 October 2026 were as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan – 43.34%, bonds of quasi-government companies – 8.27%, NBRK deposits – 2.63%, bonds of second-tier banks of the Republic of Kazakhstan – 2.50%, shares and depositary receipts of Kazakhstani issuers – 1.97%, government securities of foreign countries – 1.33%, and international financial institutions (IFIs) – 1.00%. A total of 37.62% of assets are invested under index management. This approach involves constructing an investment portfolio based on a benchmark portfolio comprising a set of securities that reflect the investor's strategic interests. The return on the benchmark portfolio serves as a measure for assessing management performance. The benchmarks used are indices developed and tracked by leading global financial companies or the NBRK. Index-based asset management is carried out by the NBRK both independently and through the engagement of foreign asset management companies for specific investment areas, including sub-portfolios of developed and emerging market bonds, corporate bonds and equities. As of 1 October 2026, the investment portfolio by currency denomination of financial instruments acquired using MPCs, MOPCs and VPCs was structured as follows: investments denominated in the national currency accounted for 58.86%, while investments denominated in US dollars represented 41.13% of the pension asset portfolio. _______ 1Excluding funds held in pension contribution and payment accounts. As a result of investment activities, interest income from securities, including deposits and reverse REPO transactions, amounted to KZT 1,693.73 billion, income from the market revaluation of securities amounted to KZT 14.15 billion, and other income totaled KZT 3.48 billion. The market revaluation of foreign currencies and assets under external management, including exchange rate revaluation, resulted in a loss. Accrued investment income over the last 12 months, from October 2025 to September 2026, amounted to approximately KZT 706.33 billion, with a return of 2.64% for the period. The main areas of investment of mandatory employer pension contributions (MEPCs) as of 1 October 2026 were as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan – 96.52%, and NBRK deposits – 3.34%. The investment portfolio formed from MEPCs consists exclusively of financial instruments denominated in the national currency. Interest income from securities, including deposits and reverse REPO transactions, amounted to KZT 115.80 billion. The market revaluation of securities generated KZT 23.59 billion in income for contributors. As of 1 October 2026, accrued investment income over the last 12 months amounted to KZT 173.20 billion, with a return of 19.15% for the period. Thedetailed structureof the investment portfolio of financial instruments managed by the NBRK, including information on issuers and an overview of investment activities, is available on the official UAPF website. Information on theportfolio structureof pension assets formed from MEPCs is also available on enpf.kz. Investment Portfolio Managers The total amount of pension assets under the management of IPMs stands at KZT 206.11 billion. As of 1 October 2026, pension assets held in trust management by JSC Alatau City Invest amounted to KZT 32.66 billion. The company's main investments were as follows: units of Exchange Traded Funds (ETFs) – 25.09%, REPO – 17.21%, bonds of second-tier banks of the Republic of Kazakhstan – 11.12%, shares and depositary receipts of Kazakhstani issuers – 10.95%, corporate bonds of Kazakhstani issuers – 8.10%, government securities of foreign countries – 5.78%, bonds of quasi-government organizations of the Republic of Kazakhstan – 4.86%, corporate bonds of foreign issuers – 2.48%, and international financial institutions (IFIs) – 1.70%. It should be noted that 61.32% of the portfolio was denominated in KZT, 38.22% in US dollars, and 0.46% in other currencies. The return on pension assets over the last 12 months, from October 2025 to September 2026, was 9.46%. Thedetailed structureof the investment portfolio of financial instruments managed by JSC Alatau City Invest, including information on issuers, is available on the UAPF website. As of 1 October 2026, UAPF pension assets held in trust management by JSC BCC Invest amounted to KZT 29.57 billion. The main areas of investment were as follows: government securities of the Ministry of Finance of the Republic of Kazakhstan – 19.07%, bonds of quasi-government organizations of the Republic of Kazakhstan – 18.39%, bonds of second-tier banks of the Republic of Kazakhstan – 16.74%, corporate bonds of resident issuers of the Republic of Kazakhstan – 6.44%, shares and depositary receipts issued by organizations of the Republic of Kazakhstan – 5.62%, units of Exchange Traded Funds (ETFs) whose asset composition replicates the constituent structure of the MSCI ACWI Index – 5.17%, and corporate bonds of foreign issuers – 2.68%. Investments denominated in the national currency accounted for 82.13% of the portfolio, while investments in US dollars - 17.87%. The return on pension assets over the last 12 months, from October 2025 to September 2026, was 8.75%. Thedetailed structureof the investment portfolio of financial instruments managed by JSC BCC Invest, including information on issuers, is available on the UAPF website. As of 1 October 2026, pension assets held in trust management by JSC Halyk Global Market[1]amounted to KZT 6.21 billion. The main investments in the portfolio were as follows: equity instruments of foreign issuers (ETF units) – 27.04%, reverse REPO (for a period not exceeding 90 calendar days) – 9.75%, bonds of quasi-government organizations of the Republic of Kazakhstan – 11.95%, bonds of second-tier banks of the Republic of Kazakhstan – 13.64%, corporate bonds of Kazakhstani organizations – 8.67%, shares and depositary receipts issued by organizations of the Republic of Kazakhstan – 7.15%, NBRK notes – 7.98%, government securities of the Ministry of Finance of the Republic of Kazakhstan – 6.06%, and securities with government security status issued by central governments of foreign countries – 5.59%. It should be noted that 63.79% of the portfolio was denominated in KZT, while 36.21% was denominated in US dollars. The return on pension assets over the last 12 months was 7.92%. Thedetailed structureof the investment portfolio of financial instruments managed by JSC Halyk Global Markets, including information on issuers, is available on the UAPF website. As of 1 October 2026, pension assets held in trust management by JSC Halyk Finance, a subsidiary of Halyk Bank of Kazakhstan, amounted to KZT 91.95 billion. The main investments in the portfolio were as follows: bonds of second-tier banks of the Republic of Kazakhstan – 16.53%, bonds of quasi-government organizations of the Republic of Kazakhstan – 14.97%,reverse REPO(for a period not exceeding 90 calendar days) – 10.61%, corporate bonds of Kazakhstani issuers – 9.38%, shares and depositary receipts of Kazakhstani issuers – 8.82%, government securities of foreign countries – 8.33%, units of Exchange Traded Funds (ETFs) – 7.18%, government securities of the Ministry of Finance of the Republic of Kazakhstan – 6.70%, corporate bonds of foreign issuers – 3.76%, and international financial institutions (IFIs) – 1.68%. Investments in financial instruments denominated in the national currency accounted for 66.95% of the portfolio, while in US dollars - 33.05%. The return on pension assets over the last 12 months, from October 2025 to September 2026, was 8.22%. Thedetailed structureof the investment portfolio of financial instruments managed by JSC Halyk Finance, a subsidiary of Halyk Bank of Kazakhstan, including information on issuers, is available on the UAPF website. As of 1 October 2026, pension assets held in trust management by JSC Tansar Capitalamounted to KZT 1.87 billion. The main investments in the portfolio were as follows: units of Exchange Traded Funds (ETFs) – 34.67%,REPO– 15.98%, shares and depositary receipts of Kazakhstani issuers – 10.18%, and government securities of the Ministry of Finance of the Republic of Kazakhstan – 4.47%. Investments in financial instruments denominated in the national currency accounted for 61.88% of the portfolio, while investments in US dollars - 38.12%. JSC Tansar Capital commenced management of pension assets on 8 April 2026. The return on pension assets since the commencement of management was 0.00%. Thedetailed structureof the investment portfolio of financial instruments managed by JSC Tansar Capital, including information on issuers, is available on the UAPF website. As of 1 October 2026, UAPF pension assets held in trust management byJSC Centras Securities amounted to approximately KZT 43.85 billion. The portfolio investments were distributed as follows: bonds of second-tier banks of the Republic of Kazakhstan – 33.30%, bonds of quasi-government organizations of the Republic of Kazakhstan – 13.44%, corporate bonds of Kazakhstani issuers – 11.05%, US government bonds – 7.88%,REPO– 7.17%, government securities of the Ministry of Finance of the Republic of Kazakhstan – 4.03%, shares and depositary receipts of foreign issuers – 2.82%, shares and depositary receipts of resident issuers of the Republic of Kazakhstan – 2.17%, and corporate bonds of foreign issuers – 1.30%. Investments denominated in the national currency accounted for 77.71% of the portfolio, while investments in US dollars - 22.29%. The return on pension assets over the last 12 months, from October 2025 to September 2026, was 13.95%. Thedetailed structureof the investment portfolio of financial instruments managed by JSC Centras Securities, including information on issuers, is available on the UAPF website. As a reminder, the UAPF has launched a unified online information platform for the investment management of citizens' pension assets,invest.enpf.kz, which brings together all key information on IPMs in a single digital space and ensures a systematic approach to providing information on investment activities. UAPF was established on August 22, 2013, on the basis of JSCAccumulated Pension Fund SAPF. The founder and shareholder of UAPF is the Government of the Republic of Kazakhstan, represented by the State Institution "State Property and Privatization Committee" of the Ministry of Finance of the Republic of Kazakhstan. The National Bank of the Republic of Kazakhstan carries out trust management of UAPF pension assets. In accordance with pension legislation, UAPF collects mandatory pension contributions, mandatory employer pension contributions, mandatory occupational pension contributions, and voluntary pension contributions. The Fund also credits and records voluntary pension contributions formed from unclaimed guarantee compensation for guaranteed deposits, transferred by the organization responsible for mandatory deposit insurance in accordance with the Law of the Republic of Kazakhstan "On Mandatory Guarantee of Deposits Placed in Second-Tier Banks of the Republic of Kazakhstan", and ensures the payment of pensions. The Fund also maintains records of targeted assets and targeted claims, records and credits targeted savings (TS) to targeted savings accounts, transfers TS payments to recipients' bank accounts, and records the return of TS in accordance with the procedure established by the Government of the Republic of Kazakhstan under the "National Fund for Children" program.(For more information, visitwww.enpf.kz). [1]On 30 December 2025, JSC Halyk Global Markets notified the UAPF of its decision to terminate the agreement effective 1 January 2027 at the initiative of the IPM. In this regard, since 1 January 2026, the UAPF has no longer accepted new applications from contributors to transfer their pension assets to the management of JSC Halyk Global Markets.
Pension Savings of Kazakhstanis Increased by KZT 2.60 Trillion Over 12 Months
Pension Savings of Kazakhstanis Increased by KZT 2.60 Trillion Over 12 Months As of October 1, 2026, the total pension savings of Kazakhstanis amounted to KZT 28.30 trillion, having increased by KZT 2.60 trillion, or 10.0%, over the past 12 months. The largest share consisted of savings formed from mandatory pension contributions (MPCs). Their total reached KZT 26.13 trillion, representing an increase of KZT 1.73 trillion, or 7.1%, over 12 months. Savings formed from mandatory occupational pension contributions (MOPCs) amounted to KZT 732.80 billion. Positive growth was also recorded in savings formed from voluntary pension contributions (VPCs). Over the past 12 months, their volume increased by 6.4%, reaching KZT 10.35 billion. The most significant growth was recorded in savings from mandatory employer pension contributions (MEPCs), which began to be paid on January 1, 2024. Over the year, their volume increased 2.4-fold, reaching KZT 1 429.89 billion. Contributions Received The total volume of pension savings is formed from pension contributions and investment income. During the first nine months of 2026, a total of KZT 2 738.10 billion in contributions was credited to contributors' individual and notional pension accounts, representing an increase of 15.7% (or KZT 371.90 billion) compared to the same period of the previous year. From the beginning of 2026 through October 1, 2026, mandatory pension contributions (MPCs) credited to individual pension accounts (IPAs) amounted to KZT 2 091.42 billion (an increase of 7.9% compared to the same period of the previous year), mandatory occupational pension contributions (MOPCs) totaled KZT 113.50 billion (an increase of 12.7%), and voluntary pension contributions (VPCs) amounted to KZT 1.62 billion. Mandatory employer pension contributions (MEPCs) received since the beginning of the year amounted to KZT 531.55 billion as of October 1, 2026. Net investment income credited to contributors' accounts since the beginning of the year amounted to KZT 882.28 billion as of October 1, 2026. Payments and Transfers Payments from UAPF across all types of pension contributions and transfers to insurance companies for January–September 2026 reached KZT 1 402.37 billion. Age-related pension payments amounted to KZT 223.61 billion. The average monthly scheduled payment from UAPF upon reaching retirement age was KZT 39,028. Lump-sum pension payments (LSPs) for housing improvements and medical treatment from the beginning of 2026 through October 1, 2026, amounted to KZT 490.04 billion. Inheritance-related payments totaled KZT 77.26 billion, payments due to permanent relocation outside the Republic of Kazakhstan amounted to KZT 37.30 billion, payments to persons with disabilities totaled KZT 2.62 billion, and funeral payments amounted to KZT 7.14 billion. A total of KZT 564.40 billion was transferred to insurance companies. Number of IPAs As of October 1, 2026, the total number of pension accounts with UAPF reached 19.11 million (an increase of 1.14 million, or 6.3% over 12 months). Of these, the number of individual pension accounts (IPAs) held by contributors (beneficiaries) with UAPF as of October 1st, 2026 amounted to 12.90 million, including 11.44 million accounts for mandatory pension contributions (MPCs), 798.39 thousand for mandatory occupational pension contributions (MOPCs), and 466.12 thousand for voluntary pension contributions (VPCs). It is worth mentioning that the total number of accounts for MPCs (11.44 million) also includes accounts belonging to beneficiaries who have permanently relocated abroad but have not applied to withdraw their pension savings; deceased contributors whose heirs have not completed the inheritance procedures for pension savings; military personnel who were transferred to full state pension in 2016; and other categories of contributors (beneficiaries) whose accounts, under the legislation of Kazakhstan, are not eligible to receive further contributions. The number of notional pension accounts with UAPF recording information on mandatory employer pension contributions (MEPCs) amounted to 6.21 million. All up-to-date statistical information on pension assets is available on the enpf.kz website in the “Statistics and Analytics” section. UAPF was established on August 22, 2013, on the basis ofAccumulated Pension Fund SAPFJSC. The founder and shareholder of UAPF is the Government of the Republic of Kazakhstan, represented by the State Institution "State Property and Privatization Committee" of the Ministry of Finance of the Republic of Kazakhstan. The National Bank of the Republic of Kazakhstan carries out trust management of UAPF pension assets. In accordance with pension legislation, UAPF collects mandatory pension contributions, mandatory employer pension contributions, mandatory occupational pension contributions, and voluntary pension contributions. The Fund also credits and records voluntary pension contributions formed from unclaimed guarantee compensation for guaranteed deposits, transferred by the organization responsible for mandatory deposit insurance in accordance with the Law of the Republic of Kazakhstan "On Mandatory Guarantee of Deposits Placed in Second-Tier Banks of the Republic of Kazakhstan", and ensures the payment of pensions. The Fund also maintains records of targeted assets and targeted claims, records and credits targeted savings (TS) to targeted savings accounts, transfers TS payments to recipients' bank accounts, and records the return of TS in accordance with the procedure established by the Government of the Republic of Kazakhstan under the "National Fund for Children" program.(For more information, visitwww.enpf.kz).
The Number of Contributors Transferring Their Pension Savings to IPM is Growing
The Number of Contributors Transferring Their Pension Savings toIPMis Growing What Are The Key Benefits of invest.enpf.kz Investment Portal? Previously Since 2021, contributors have been allowed to transfer part of their pension savings to private management companies, within to the amount exceeding the minimum sufficiency threshold. In July 2023, the Social Code expanded the options for transferring pension savings to Investment Portfolio Managers (IPMs), allowing contributors to transfer up to 50% of their savings from mandatory pension contributions and mandatory occupational pension contributions, and up to 100% of their savings formed from voluntary contributions. Currently In September 2026, legislative amendments came into force granting contributors the right to transfer, at their discretion, both their voluntary pension savings and pension savings from mandatory pension contributions and mandatory occupational pension contributions to private management in full. What has changed The new provisions have given contributors greater opportunities to influence the returns on their pension savings. They can independently choose who will manage their pension assets and under which investment strategy. Furthermore, pension savings can be distributed among several IPMs and investment portfolios, providing more options for managing pension capital. Thus, the pension system is gradually shifting from a model in which contributors played the role of passive observers to the system that encourages informed participation in managing their own long-term pension savings. About the investment portal The gradual expansion of opportunities to choose an investment strategy and improved access to information on pension asset management create conditions for more active participation by contributors in making decisions related to their future retirement income. In early 2026, UAPF launched a dedicated investment portal, invest.enpf.kz, designed to help contributors wishing to transfer their pension savings to Investment Portfolio Managers (IPMs) do so correctly and promptly. In particular, the portal brings together key information on pension asset management in a single digital space, providing contributors with an accessible tool for making informed decisions independently. Users of the investment portal can: ·familiarize themselves with the basic concepts of investing; compare the investment returns achieved by managers over different periods and track their performance over time; examine the composition of investment portfolios and find out which financial instruments pension assets are invested in; review investment declarations and strategies and assess how well they suit their individual needs. Data analysis shows that contributors are becoming increasingly interested in investment instruments and are seeking to make informed decisions about managing their pension savings. According to statistics, the number of unique users of the invest.enpf.kz portal has been steadily increasing since its launch, reaching approximately 82 000 as of October 1, 2026. Of these, around 27 500 users accessed the portal in September, when contributors' investment opportunities were expanded. Statistics Statistical data also indicate a significant increase in the number of contributors transferring their pension savings to Investment Portfolio Managers (IPMs). From01.01.2026to06.09.2026a total of 44 167 contributors transferred their pension savings, amounting to KZT 69.1 million. By comparison, during the much shorter period from07.09.2026to14.10.2026, a total of 32 921 contributors transferred pension savings amounting to KZT 92.2 million. Data on Transfer Volumes for the Period from01.01.2026to06.09.2026 Transfer Amount Range, KZT Number of Contributors Share of Contributors(of the total number who made transfers) Transfer Amount, KZT millio Share (of the total amount transferred) Up to500 000 15 910 36,0% 2 582,68 3,7% 500 000 -1 000 000 5 443 12,3% 3 827,41 5,5% 1 000 000 -3 000 000 13 716 31,1% 26 591,73 38,5% 3 000 000 -5 000 000 8 085 18,3% 29 434,35 42,6% 5 000 000 -10 000 000 946 2,1% 5 717,96 8,3% 10 000 000 -2 0 000 000 59 0,13% 734,22 1,1% 20 000 000 -50 000 000 8 0,02% 257,22 0,4% Over50 000 000 – – – – TOTAL 44 167 69 145,57 Data on Transfer Volumes for the Period from07.09.2026to14.10.2026 Transfer Amount Range, KZT Number of Contributors Share of Contributors(of the total number who made transfers) Transfer Amount, KZT millio Share (of the total amount transferred) Up to500 000 7 325 22,3% 1 210,96 1,3% 500 000 -1 000 000 3 425 10,4% 2 357,91 2,6% 1 000 000 -3 000 000 9 409 28,6% 17 175,42 18,6% 3 000 000 -5 000 000 6 375 19,4% 23 974,97 26,0% 5 000 000 -10 000 000 5 712 17,4% 38 356,27 41,6% 10 000 000 -20 000 000 621 1,9% 7 475,87 8,1% 20 000 000 -50 000 000 51 0,15% 1 391,67 1,5% Over50 000 000 3 0,01% 214,37 0,2% TOTAL 32 921 92 157,45 The statistics for the same periods, broken down by age group, are as follows: Data for the period from01.01.2026to06.09. 2026 Age group Share of transfers (of the total number of transfers) Share of amount (of the total amount transferred) Average transfer amount, thousand tenge Under30years 24,0% 10,5% 397 30–39years 40,2% 40,9% 922 40–49years 24,8% 32,5% 1 188 50–59years 10,6% 15,4% 1 318 60 Years and Older 0,5% 0,6% 1 118 Data for the period from07.09.2026to14.10.2026. Age group Share of transfers (of the total number of transfers) Share of amount (of the total amount transferred) Average transfer amount, thousand tenge Under30years 22,1% 9,1% 676 30–39years 38,0% 37,6% 1 631 40–49years 27,5% 35,2% 2 113 50–59years 11,8% 17,1% 2 380 60 Years and Older 0,6% 1,1% 2 975 As can be seen from the data presented, contributors aged 30–39 are the most active, accounting for approximately 40% of all transfers and 40% of the total amount transferred. The high level of activity among contributors in this age group may be attributed to the fact that they have already accumulated substantial pension savings but are still far from retirement, giving them time to select and adjust their investment strategies according to their investment horizon and risk tolerance. It should be recalled that contributors make decisions on transferring their pension savings independently. Before doing so, it is important to carefully review the management terms and conditions, the composition of the investment portfolio, management fees, and investment returns over different periods. It should also be borne in mind that past performance does not guarantee similar returns in the future, and the value of investments may rise or fall. Contributors can always find up-to-date data and all the necessary information on the investment portal invest.enpf.kz. To date, the portal has helped a large number of contributors better understand the available options for managing their pension savings and make informed decisions on transferring their accumulated funds to Investment Portfolio Managers (IPMs). UAPF was established on August 22, 2013, on the basis ofAccumulated Pension FundSAPFJSC. The founder and shareholder of UAPF is the Government of the Republic of Kazakhstan, represented by the State Institution "State Property and Privatization Committee" of the Ministry of Finance of the Republic of Kazakhstan. The National Bank of the Republic of Kazakhstan carries out trust management of UAPF pension assets. In accordance with pension legislation, UAPF collects mandatory pension contributions, mandatory employer pension contributions, mandatory occupational pension contributions, and voluntary pension contributions. The Fund also credits and records voluntary pension contributions formed from unclaimed guarantee compensation for guaranteed deposits, transferred by the organization responsible for mandatory deposit insurance in accordance with the Law of the Republic of Kazakhstan "On Mandatory Guarantee of Deposits Placed in Second-Tier Banks of the Republic of Kazakhstan", and ensures the payment of pensions. The Fund also maintains records of targeted assets and targeted claims, records and credits targeted savings (TS) to targeted savings accounts, transfers TS payments to recipients' bank accounts, and records the return of TS in accordance with the procedure established by the Government of the Republic of Kazakhstan under the "National Fund for Children" program.(For more information, visitwww.enpf.kz).
On the Need for Citizens to Conclude Employment and Civil Law Contracts When Working in EAEU Countries
On the Need for Citizens to Conclude Employment and Civil Law Contracts When Working in EAEU Countries Background On January 1, 2021, the Agreement on Pension Provision for Workers of the Member States of the Eurasian Economic Union, dated December 20, 2019 (hereinafter referred to as the Agreement), entered into force. Under the Agreement, citizens of EAEU member states working in EAEU countries acquire, retain, and exercise their pension rights on an equal basis with citizens of the EAEU country in which they are employed. Each EAEU member state grants pensions in accordance with its national legislation for periods of employment completed by workers on its territory after January 1, 2021. It is worth mentioning that the EAEU currently comprises the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, and the Russian Federation. On the Need to Conclude Employment Contracts The free movement of labor within the territories of EAEU member states is one of the key advantages of the EAEU. Citizens of these countries have the right to work in other EAEU member states without obtaining a work permit or patent. Any EAEU citizen working in another EAEU member state is also entitled to the same employment guarantees as citizens of the country of employment. However, the absence of a requirement to obtain work permits does not mean that employment relationships can be left without proper formalization. To exercise their rights, workers must have evidence of the existence of an employment relationship. The primary evidence is an employment contract or a civil law contract for the provision of services concluded with an employer. Verbal agreements do not provide workers with sufficient legal protection. An employer may change working conditions, delay salary payments, or claim that the individual performed occasional assignments rather than working under an employment contract. A written contract, in turn, makes it possible to establish who the employer is, what work the individual performed, how much they were to be paid, and what obligations the parties undertook. Employers are also required to make pension (insurance) contributions to the pension system of the country of employment for officially employed workers in accordance with the procedures and deadlines established by that country's legislation. At the same time, workers should clarify in advance the procedures for formalizing employment relationships in the relevant country, as the rules for concluding contracts, their required form, and the procedures for notifying government authorities may vary. Implementation of the Agreement in Kazakhstan In the Republic of Kazakhstan, the Agreement applies to pension payments from UAPF funded by accumulated pension contributions upon reaching retirement age or being recognized as having a Group I or Group II disability on a permanent basis. If a citizen of the Republic of Kazakhstan has worked (for example, for 3–5 years) in the territory of an EAEU member state after the Agreement entered into force, the country in which the migrant worker was employed will grant a pension for the period of employment completed in that country, provided that the individual meets the eligibility requirements established by the pension legislation of the country of employment (reaching retirement age and completing the required period of employment). In this case, the citizen of the Republic of Kazakhstan has the right to submit an application, together with the required documents, for the granting and payment of a pension either to the competent authority of the EAEU member state concerned or to UAPF, acting as the competent authority in the Republic of Kazakhstan. The list of documents required for granting and paying a pension to a worker is governed by the national legislation of each EAEU member state. Competent Authorities In the Republic of Kazakhstan, the competent authorities responsible for confirming the employment history of workers from EAEU member states are UAPF JSC, the Committee for Regulation and Control in the Field of Social Protection of the Population of the Ministry of Labor and Social Protection of the Population of the Republic of Kazakhstan, and its territorial divisions. UAPF provides information on periods of employment from January 1, 1998, based on data on mandatory pension contributions available in its digital system. UAPF also performs the following functions: receiving documents for granting and paying pensions to workers under the Agreement; reviewing these documents and making decisions on granting or refusing to grant pensions; disbursing pensions granted by the competent authorities of EAEU member states. Detailed information is available on the enpf.kz website in the “Services” section. To confirm periods of employment prior to 1998, individuals must contact the territorial divisions of the Committee for Regulation and Control in the Field of Social Protection of the Population of the Ministry of Labor and Social Protection of the Population of the Republic of Kazakhstan Agreement in Figures During the implementation of the Agreement(from01.01.2021to30.09.2026): ·UAPF granted pension payments to 374 citizens of EAEU member states, including: EAEU Member State Type of Payment Number of Beneficiaries (Workers) Republic of Armenia achievement of retirement age 11 Republic of Belarus achievement of retirement age 22 lump-sum payment to heirs 4 Kyrgyz Republic achievement of retirement age 4 lump-sum payment to heirs 5 Russian Federation achievement of retirement age 306 lump-sum payment to heirs 26 ·the competent authorities of the following member states have granted insurance-based pensions to 39 citizens of Kazakhstan, including: EAEU Member State Type of Pension Number of Beneficiaries (Workers) Kyrgyz Republic age-based pension 3 survivor's pension 3 Russian Federation old-age pension 31 survivor's pension 1 disability pension 1 Thus, citizens of EAEU member states acquire and exercise their pension rights in EAEU member states on an equal basis with citizens of the country of employment, which is one of the main objectives of the Agreement. UAPF was established on August 22, 2013, on the basis ofAccumulated Pension FundSAPFJSC. The founder and shareholder of UAPF is the Government of the Republic of Kazakhstan, represented by the State Institution "State Property and Privatization Committee" of the Ministry of Finance of the Republic of Kazakhstan. The National Bank of the Republic of Kazakhstan carries out trust management of UAPF pension assets. In accordance with pension legislation, UAPF collects mandatory pension contributions, mandatory employer pension contributions, mandatory occupational pension contributions, and voluntary pension contributions. The Fund also credits and records voluntary pension contributions formed from unclaimed guarantee compensation for guaranteed deposits, transferred by the organization responsible for mandatory deposit insurance in accordance with the Law of the Republic of Kazakhstan "On Mandatory Guarantee of Deposits Placed in Second-Tier Banks of the Republic of Kazakhstan", and ensures the payment of pensions. The Fund also maintains records of targeted assets and targeted claims, records and credits targeted savings (TS) to targeted savings accounts, transfers TS payments to recipients' bank accounts, and records the return of TS in accordance with the procedure established by the Government of the Republic of Kazakhstan under the "National Fund for Children" program.(For more information, visitwww.enpf.kz).
Rasul Rysmambetov, financier and independent member of the Board of Directors of UAPF JSC: "If a person doesn't save for old age—if they are convinced that the state will somehow come up with something and provide 'free cucumbers and tomatoes'—that simply won't happen, unfortunately... We can only build up savings for ourselves."
Rasul Rysmambetov, financier and independent member of the Board of Directors of UAPF JSC: "If a person doesn't save for old age—if they are convinced that the state will somehow come up with something and provide 'free cucumbers and tomatoes'—that simply won't happen, unfortunately...We can only build up savings for ourselves."
The UAPF has provided over 36 million services to the public since the beginning of the year
The UAPF is the single operator of Kazakhstan’s funded pension system, ensuring the reliability and transparency of pension savings. Its primary mission is to accumulate citizens' pension savings and ensure their future disbursement. The Fund continues to expand its remote services, enabling Kazakhstanis to perform most essential transactions without visiting an office. The 24/7 availability of services via the website and mobile app is a key factor driving increased interest among contributors. Between January 1, 2026, and August 31, 2026, the Fund provided 36.2 million services to the public. Of this total, 24.0 million were delivered electronically, and 11.4 million were processed automatically. Consequently, automated, electronic, and remote services accounted for 98.6% of the total volume. Despite the high level of digitalization, the Fund’s specialists continue to provide in-person service at regional branches. However, the share of in-person office visits remains minimal given the convenience of mobile and web-based resources. Specifically, 516.7 thousand services were provided in person, with 504.3 thousand of these taking place directly at the Fund’s offices. It is worth noting that all pension accounts are opened automatically with the UAPF upon receipt of the first contribution. Similarly, targeted allocations are automatically credited to citizens of the Republic of Kazakhstan under the age of 18, and targeted savings accounts (TSA) are opened to track and disburse these funds to eligible recipients upon adulthood under the "National Fund for Children" program. During the reporting period, the total number of accounts opened automatically—including Individual Pension Savings Accounts (IPSA) for various types of individual pension contributions, Notional Pension Savings Accounts (NPSA) for tracking employer’s compulsory pension contributions (ECPC) funded by the employer, and Targeted Savings Accounts (TSA) opened to record and disburse targeted savings to recipients under the "National Fund for Children" program—exceeded 1.3 million. Obtaining account statements for IPSAs, NPSAs, and TSAs remains the most popular service. Since the beginning of the year, 25.0 million statements have been issued across all account types; of these, 22.4 million were provided electronically, and 2.3 million were generated automatically. The UAPF reminds the public that accessing account information via the personal account area is the most convenient, reliable, and prompt way to monitor pension savings. The service operates online 24/7, allowing users to obtain up-to-date information at any time and from anywhere in the world. Account status information is available not only through the UAPF mobile app and the personal account area on the UAPF website but also via the egov.kz portal or the e-government mobile app. This offers added convenience for users who prefer interacting with government services through unified platforms. The UAPF notes that, starting in 2025, the annual automatic mailing of account statements has been discontinued. However, it is still possible to receive information on pension savings status by mail upon submitting a formal request to the UAPF. In addition to obtaining account statements via their personal accounts on the website and mobile app, contributors (beneficiaries) can access various services. These include updating or amending their account details, obtaining certificates of account ownership, and submitting applications for pension benefits—whether due to a permanent Group 1 or 2 disability or upon reaching the age of fifty (funded by voluntary pension contributions). Users can also track pension benefit application statuses, transfer a portion of their pension savings to an Investment Portfolio Manager (IPM), and project their future pension using the pension calculator, among other features. During the reporting period, 88,800 applications were received from contributors to transfer a portion of their pension savings to IPM trust management, with the majority submitted electronically. The UAPF reminds the public that invest.enpf.kz—a unified online platform for the investment management of citizens' pension assets—consolidates key information about Investment Portfolio Managers (IPMs) into a single digital space, ensuring a systematic approach to data disclosure regarding investment activities. The invest.enpf.kz portal offers users information in both Kazakh and Russian regarding the pension savings system, securities, investment strategies (and criteria), key concepts, and the allocation structure of pension assets. It also provides financial performance metrics for each IPM, data on their compliance with regulatory requirements, and other details that enable contributors to build a comprehensive profile of an IPM and its investment activities. When contacting UAPF specialists for specific services, contributors typically receive additional consultation and advice on building their savings. As part of its public outreach and awareness-raising efforts, the UAPF conducted 39,700 on-site presentations, attended by a total of 783,400 people. A total of 27,500 media items were published based on UAPF announcements. The Fund received 283,000 inquiries from contributors and beneficiaries via various communication channels (call center, website consultations, instant messaging apps, social media, and other channels). As a reminder, any company can request an on-site presentation and consultation regarding the funded pension system; to do so, simply call the call center at 1418 or contact the Fund via its website or mobile app. UAPF consultation services are available via instant messaging apps (WhatsApp and Viber chatbots at +7 777 000 14 18), the call center at 1418 (toll-free within Kazakhstan), the corporate website enpf.kz, and official UAPF social media pages on Instagram, Facebook, VKontakte, Telegram, and Odnoklassniki. UAPF was founded on August 22, 2013 on the basis of GNPF APF JSC. The founder and shareholder of the UAPF is the Government of the Republic of Kazakhstan represented by the State Institution Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan. Trust management of UAPF pension assets is carried out by the National Bank of the Republic of Kazakhstan. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, employer’s compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, as well as carries out enrollment and accounting of voluntary pension contributions formed at the expense of the unclaimed amount of guaranteed compensation for the guaranteed deposit, transferred by the organization carrying out mandatory guarantee of deposits, in accordance with the Law of the Republic of Kazakhstan "On mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan", ensures the implementation of pension benefits. The Fund also carries out accounting of target assets and target requirements, accounting and crediting of target savings (TS) to target savings accounts, payments of TS to their recipients in bank accounts, accounting for returns of TS in the manner determined by the Government of the Republic of Kazakhstan within the framework of the National Fund for Children program (More details atwww.enpf.kz)