The National Pension Fund of Kazakhstan (ENPF) has released key indicators as of April 1, 2024, showing a total of 18.9 trillion tenge in pension savings across individual and conditional accounts. This marks an increase of approximately 1.02 trillion tenge (5.7%) since the beginning of the year, with a significant growth of nearly 3.5 trillion tenge (22.6%) compared to the same date last year.
In the first three months of 2024, pension contributions reached 623.6 billion tenge, a 27.9% increase from the previous year. Mandatory pension contributions (MPC) saw a growth of 20.2%, mandatory professional pension contributions (MPPC) increased by 22.1%, and voluntary pension contributions (VPC) surged by 41.2%.
The majority of Kazakh citizens' savings, 96.6%, are attributed to MPC, totaling over 18.2 trillion tenge as of April 1, 2024. Contributions from MPPC reached 599.7 billion tenge, showing a yearly growth of 25.8%. VPC saw the highest increase, with savings amounting to 5.9 billion tenge, marking a 49% annual growth.
Net investment income accrued to individual and conditional pension accounts amounted to approximately 569.5 billion tenge since the beginning of the year. Outflows from the fund in the form of payments reached around 193 billion tenge in the first three months of the current year, with a significant portion allocated to one-time pension payments for housing improvements and medical treatment, totaling about 83.7 billion tenge.
Pension payments related to reaching retirement age totaled around 44.6 billion tenge. The average monthly pension payment scheduled for retirees reached 33,985 tenge, with a maximum monthly payment of 945,752 tenge. These figures have increased compared to the same period last year, reflecting the fund's commitment to supporting retirees.
As of April 1, 2024, ENPF managed 12.4 million individual pension accounts, with 11.1 million related to MPC, 671.1 thousand to MPPC, and 409.8 thousand to VPC. Additionally, there were over 3.4 million conditional pension accounts tracking incoming contributions and other financial data in accordance with Kazakhstani legislation.
The ENPF's report showcases a positive trend in pension savings and contributions, highlighting the fund's efforts to ensure financial security for retirees in Kazakhstan.
