Conditions for the withdrawal of pension savings

One-time pension payments from mandatory pension contributions for the purpose of improving housing conditions and/or paying for medical treatment (for the benefit of the applicant, their spouse, or close relatives) may be made subject to one of the following conditions:

• if the amount of pension savings exceeds the threshold of minimum sufficiency of pension savings, as determined in accordance with the methodology approved by the Government of the Republic of Kazakhstan;
• if, for the persons specified in paragraphs 1, 2, and 3 of Article 207 of the Social Code of the Republic of Kazakhstan, the pension amount, and for the persons specified in paragraph 4 of the same Article, the monthly maintenance amount, provide a replacement rate of the recipient’s average monthly income of no less than 40 percent, as calculated in accordance with the procedure established by the Government of the Republic of Kazakhstan;
• if the depositor has entered into a pension annuity contract with an insurance company;
• if the depositor receives retirement benefits based on years of service.

Steps:

• check the available amount via the UAPF website or e-Government portal;
• register in personal account on the website of one of the authorized operators;
• open a special account with an authorized operator;

submit an application for the one-time pension payment through the website of an authorized operator.

Authorized operators (as of August 1, 2025)

For improving housing conditions:

• Otbasy Bank JSC
• Halyk Bank of Kazakhstan JSC
• Altyn Bank JSC
• Bank CenterCredit JSC
• Freedom Bank Kazakhstan JSC

For covering medical expenses:

Otbasy Bank JSC only

The trust management of pension assets from the UAPF is conducted by the National Bank of the Republic of Kazakhstan based on a trust management agreement between the National Bank and the UAPF.

The trust management of pension assets by the PMC is carried out based on the pension assets trust management agreement concluded between the UAPF and the PMC (hereinafter - pension assets trust management agreement).

Conditions for the transfer of pension assets to trust management

The UAPF transfers pension assets to the trust management of the PMC subject to the following conditions:

1. the availability of a written statement from the contributor of mandatory pension contributions (MPC), or an individual for whom mandatory professional pension contributions (MPPC) or voluntary pension contributions (VPC) are made, regarding the selection or change of the PMC, submitted in the prescribed form with the required documents as established by the internal regulations of the UAPF;
2. the availability of a trust management agreement, as well as a custodial agreement concluded among the UAPF, the PMC, and the custodian bank;
3. pension savings of the MPC depositor, an individual for whom the MPPC are made, subject to transfer to the trust management of the PMC:

• The amount shall not exceed fifty percent of the pension savings in the individual retirement account (IRA) of the MPC depositor, or the individual for whom the MPPC are made, as of the date of receipt of the application for the selection or change of the PMC. Upon subsequent transfers to the trust management of the PMC, the amount of pension savings shall be determined taking into account previously transferred savings, including the investment income accrued by the PMC (applications may be submitted no more than once per year from the date of the initial transfer of pension savings to the PMC’s trust management);

or

• the amount shall not exceed the pension savings accumulated from MPC and/or MPPC in their IRA in the event of a concluded pension annuity agreement with an insurance company;

4. pension savings formed at the expense of the VPC, which are subject to transfer to the trust management of the PMC, shall not exceed the amount of available pension savings in the IRA corresponding to the VPC;
5. the PMC specified in the statement by the MPC depositor, the individual for whom the MPC and VPC are listed, complies with the requirements established by the regulatory legal acts of the authorized body responsible for the regulation, control, and supervision of the financial market and financial organizations.

Options for submitting an application regarding the selection or change of the PMC

• direct appeal at UAPF offices
•  submission through the UAPF website and signing using a digital signature.

The list of existing PMCs (as of August 1, 2025)

• Halyk Global Markets JSC
• Jusan Invest JSC
• BCC Invest JSC
• Centras Securities JSC
• Halyk Finance JSC

Deadline for transferring pension assets to the trust management of the PMC:

• within 30 (thirty) calendar days from the date of receipt of the application

Resolution No. 28 of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market as of May 26, 2023, “On Approval of the Rules and Deadlines for the Transfer of Pension Assets to the Trust Management of the Investment Portfolio Manager and for the Transfer of Pension Assets from One Investment Portfolio Manager to Another or to the National Bank of the Republic of Kazakhstan”.

Where to get more details

• procedure for transferring pension savings to the PMC, transferring from one PMC to another, or returning pension savings from the PMC to the National Bank of the Republic of Kazakhstan —the UAPF website
• step-by-step instructions for transferring pension savings —the UAPF website
• verification of the available amount - the UAPF webiste or e-Government portal

information on the indicators of minimum yield and weighted average return on pension assets - website of the National Bank of the Republic of Kazakhstan.