Pension benefits from the UAPF will increase by 5 percent.

ANNOUNCEMENT

Category: Changes 2026

Pension benefits from the UAPF will increase by 5 percent.

Pension benefits from the UAPF will increase by 5 percent for pensioners who have already been receiving benefits for several years, effective January 1, 2026.

As a reminder, UAPF benefits are calculated in accordance with the Methodology for Calculating Pension Benefits, approved by the Decree of the Government of the Republic of Kazakhstan dated June 30, 2023. According to this method, monthly payments to citizens retiring are calculated as follows: in the first year of receiving benefits, the amount of pension savings is multiplied by the pension savings payment rate of 6.5% and divided by 12. In subsequent years, the monthly payment amount is increased by the pension payment indexation rate of 5%.

The minimum monthly UAPF benefit is at least 70% of the subsistence minimum (hereinafter referred to as the SM), established for the corresponding financial year by the law on the republican budget (in 2026, the SM is 50,851 tenge). The maximum monthly pension benefit from the UAPF is unlimited and depends on the beneficiary’s pension savings.

The methodology provides for increasing adjustment factors used to calculate the pension benefit amount for the following categories of citizens: individuals with permanent disability groups 1 or 2, as well as individuals who have reached retirement age and for whom compulsory occupational pension contributions have been paid for at least 60 months. For individuals who meet both of the above conditions, the adjustment factor with the highest value is applied.

Thus, pension benefits directly depend on the size of pension savings, which are formed through regular pension contributions and accumulated investment income. Payments from the UAPF are made until the savings in the individual pension savings account are depleted. Since individual pension savings are the property of the contributor, they are also inherited in accordance with the general procedure established by civil law.

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 at www.enpf.kz)