Unified Accumulative Pension Fund, JSC (UAPF), the national pension fund of the Republic of Kazakhstan, administers fully-funded defined contribution pension systems, which will eventually become the principle source of income for retirees.
The mandatory fully-funded pillar shall cover all working population. However, despite the compulsory membership of UAPF, coverage is challenged by the informal economy, low financial literacy and limited resources of individuals.
While building public trust and raising awareness, UAPF strives to provide excellent service to its customers in a cost-effective manner. As the sole pension fund of the country with no competitors, UAPF looks to adopt top-notch world practices to provide the best value to its members. Therefore, UAPF consistently explores the world’s top-rated pension systems, international expert advice, social security standards and guidelines.
Since 2015, UAPF has become a member of the International Social Security Association (ISSA) and its Technical Commissions Committees, and thus have accessed the ISSA’s rich database and expertise.
UAPF has streamlined its operations to increase public trust, coverage, and be ready for new challenges.