Kazakhstan to allow full transfer of pension savings to private managers from September

July 24, 2026 at 03:10 PM1 min

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Kazakhstan's Ministry of Labor and Social Protection announced that from September 2026 citizens will be able to transfer up to 100% of their pension savings to private investment management companies. National Bank Chairman Timur Suleimenov urged citizens to study the companies' performance before deciding, emphasizing that the choice is voluntary.

Policy Change

Starting September 2026, Kazakh citizens will be allowed to transfer up to 100% of their pension savings to private investment portfolio managers, up from the current 50% limit introduced in 2023. The Ministry of Labor and Social Protection announced the change, which applies to the mandatory pension contributions held in the Unified Accumulative Pension Fund (UAPF).

Regulatory Safeguards

National Bank Chairman Timur Suleimenov stated that only companies licensed by the Agency for Regulation and Development of the Financial Market can manage pension assets. He warned that higher potential returns come with higher risks, and citizens should review companies' declarations and past performance on their official websites before deciding.

Voluntary Choice

Suleimenov emphasized that transferring savings is not mandatory; risk-averse citizens can keep their funds under UAPF management. Younger savers seeking long-term returns may opt for private managers with higher risk profiles. He noted that each citizen bears personal responsibility for their investment decision.