Kazakhstan pension investment income tops 2.8 trillion tenge
Investment income earned by Kazakhstan's pension contributors exceeded 2.8 trillion tenge over the past 12 months, Qazinform News Agency reports, citing the Unified Accumulative Pension Fund (UAPF).
The income was generated through the investment of pension assets managed by the National Bank of Kazakhstan and private investment portfolio managers.
According to the UAPF, pension assets managed by the National Bank earned around 2.71 trillion tenge in investment income over the 12 months from June 2025 till May 2026, delivering a return of 11.46%.
As of June 1, 2026, pension assets accumulated through mandatory employer contributions had generated 115.29 billion tenge in investment income over the previous 12 months, with a return of 17.12%.
The fund cautioned that short-term returns are not always indicative of investment performance, as fluctuations in securities prices and exchange rates can temporarily offset gains. It said performance is best assessed over a longer time horizon.
Since the launch of Kazakhstan's funded pension system in 1998, cumulative investment returns have reached 1,095.39%, surpassing cumulative inflation of 986.70% over the same period.
The National Bank's cumulative net investment income since the consolidation of pension assets into the UAPF in April 2014 reached 10.94 trillion tenge by June 1, 2026. Taking pension benefit payments into account, investment income accounts for 41.2% of contributors' total pension savings.
Pension contributors may transfer part of their savings to private investment portfolio managers that meet regulatory requirements. They may transfer up to 50% of savings accumulated through mandatory and mandatory occupational contributions, and up to 100% of savings accumulated through voluntary pension contributions.
Contributors can choose from three investment portfolios:
- Ki (12) — available to all contributors regardless of age, with minimum return assessed over the previous 12 months;
- Ki (36) — intended for contributors with at least three years remaining until retirement, with performance measured over 36 months;
- Ki (60) — designed for long-term investors with more than 13 years until retirement, with minimum return assessed over a 60-month period.
Earlier, Qazinform News Agency reported that the Netherlands had invested more than $125 billion in Kazakhstan.
