The volume of pension savings in Kazakhstan continues to grow rapidly, reaching record levels. As of July 1, 2026, the Unified Accumulative Pension Fund (UAPF) has accumulated 28.09 trillion tenge, which is 4.08 trillion tenge (or 17%) more than a year earlier, reports infohub.kz.
The number of pension accounts is also increasing: as of early July, their number reached 18.78 million, which is 1.11 million (6.3%) more than the previous year. Of these, 12.8 million are individual pension accounts, and 5.97 million are conditional accounts that record mandatory pension contributions from employers.
However, the UAPF emphasizes that the total number of accounts does not reflect the real activity of contributors, as it includes accounts of pensioners, persons with disabilities, military personnel, citizens who have left for permanent residence abroad, and deceased contributors for whom contributions are no longer made.
A more objective indicator is the number of active accounts that have received at least one contribution during the year. In the first half of 2026, their number grew from 7.2 million to 7.34 million, and the volume of savings on them increased from 20.95 trillion to 22.24 trillion tenge.
The majority of active accounts belong to citizens who regularly make mandatory pension contributions. Over six months, their number grew from 6.77 million to 6.93 million people, and the volume of savings increased from 20.1 trillion to 21.07 trillion tenge.
The fund also notes an improvement in payment discipline. In 2025, the average regularity of mandatory pension contributions among employees increased from 8.95 to 8.98 payments per year, and among the self-employed from 7.36 to 7.53. Between 6 and 12 contributions per year were made by 80% of employees and 64% of the self-employed.
Another trend concerns the level of income from which contributions are paid. In 2025, the share of active accounts with contributions from incomes below the minimum wage decreased from 12% to 9%. At the same time, the number of accounts with contributions from incomes ranging from the median to the average monthly wage increased.
By the end of 2025, the coverage of the funded pension system among employees reached 91%. The UAPF believes this indicates almost full participation of officially employed citizens in building their own pension savings. At the same time, the fund notes the need to further involve the self-employed population in the system.
It is worth recalling that in recent years, private management companies have often shown higher returns on pension assets than the National Bank. And during periods of high inflationary pressure in 2025, the regulator barely achieved real returns.
In June 2026, the UAPF updated the minimum sufficiency thresholds in Kazakhstan, raising them by 79% or more under the new methodology. The fund itself explained the increase by inflation.