Contributors from Almaty, Astana and Karaganda Region Lead in the Number of Transfers to IPMs

Information Notice

Contributors from Almaty, Astana and Karaganda Region Lead in the Number of Transfers to IPMs

More and more Kazakhstanis are visiting the investment portal invest.enpf.kz.

In September 2026, legislative amendments came into force granting contributors the right to transfer both their voluntary pension savings and pension savings formed from mandatory pension contributions and mandatory occupational pension contributions in full to private asset managers of their choice.

Contributors now have more opportunities to choose an asset management company and invest their accumulated funds. Pension savings can also be distributed among several Investment Portfolio Managers (IPMs) and investment portfolios, providing more options for managing pension capital.

The opportunity to transfer pension savings in full to private asset managers has contributed to an increase in the number of transfers to Investment Portfolio Managers (IPMs). While 73,456 transfers totaling approximately KZT 66.7 billion were made between 1 January and 31 August 2026, a further 56,956 transfers totaling approximately KZT 92.0 billion were made over the much shorter period from 1 September to 13 October 2026.

The most active contributors transferring their pension assets to IPMs are residents of Almaty, Astana and Karaganda Region. Detailed statistics for the respective periods are provided below:

Data for the periodfrom01.01.2026to31.08.2026

Data for the periodfrom01.09.2026 to13.10.2026

Before transferring pension savings to an Investment Portfolio Manager (IPM), contributors should carefully review the management terms and the specific features of the investment strategy. This choice affects how their funds will be invested and the risks associated with these investments. First of all, contributors should review the IPM's investment declaration, which specifies the investment objectives, approaches and restrictions on asset composition. It is also important to check the management fees and understand which financial instruments the asset management company uses. Investment returns over different periods also deserve particular attention. Past performance helps assess the portfolio's results, but it should be noted that it does not guarantee similar returns in the future. The level of risk should also be taken into account, as asset values may fluctuate depending on market conditions.

Contributors can compare the offers of asset management companies and obtain information on the terms for transferring pension savings to IPMs through the investment portal invest.enpf.kz. As of 1 October 2026, the number of unique users of the invest.enpf.kz portal amounted to approximately 82 thousand, including around 27.5 thousand in September, when contributors' investment opportunities were expanded. By using this digital platform, each contributor can make an informed decision and assess whether a company's investment strategy aligns with their expectations and willingness to accept investment fluctuations.

UAPF was established on August 22, 2013, on the basis of JSCAccumulated Pension FundSAPF. 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 ).