As of October 1, total assets held in the Unified Accumulative Pension Fund (UAPF) stood at 28.3 trillion tenge, up 2.6 trillion tenge over the past year, with a significant share of these funds generated not from Kazakh citizens' contributions but from investment income, infohub.kz reports.
Pension savings do not sit idle: they are invested in various financial instruments that generate returns. Since the start of the year, investment income has amounted to around 882.28 billion tenge.
Over a longer horizon, the figures are even larger. According to the UAPF, from the consolidation of pension assets in 2014 through October 1, 2026, accumulated investment income totaled 14.3 trillion tenge — roughly 40% of citizens' total savings.
Over the entire history of the accumulative pension system, from 1998 through October 1, 2026, accumulated investment returns reached 1,090.84%, while inflation over the same period came to 1,014.83%. Thus, throughout this period, Kazakhs' pension savings have preserved their purchasing power.
Investment income is generated by placing pension assets in financial instruments. Its size is affected by interest received on securities and other instruments, changes in their market value and fluctuations in currency exchange rates.
Meanwhile, since September 7, Kazakh citizens have been able to transfer all of their pension savings to private asset management companies (AMCs). Many citizens have already taken advantage of this option. This may indicate that a growing number of citizens want to choose the management company for their savings themselves and influence the size of their future pension.