A quarter of a century has passed since the implementation of the pension reform, which marked the gradual transition from state pension provision to a multi-component pension system.

About how it all began and was built, about mistakes and experience of overcoming difficulties, about why the funded pension system is needed, its evolution and purpose, as well as many other things, a dialogue took place on the БЖЗҚ ЕНПФ YouTube channel with a statesman, a well-known Kazakh financier, Chairman of the Kazakhstan Khalkyna PSF Bolat Bidakhmetovich Zhamishev, who is one of the developers of the concept of pension reform and an active participant in its implementation.

As part of the working group, Bolat Bidakhmetovich studied the experience of countries that successfully implemented pension reform, was the first to head the National Pension Agency, which regulates and supervises the activities of pension funds, and supervised the direction of pension provision as Deputy Minister of Labor and Social Protection of the Population.

“The pension system is a system for centuries, one generation retires, the next is born, for which the pension system continues to function. If mistakes are made, it is never too late to correct them. The pension system must be stable, but flexible, able to improve and develop in order to fulfill its main purpose: to provide adequate pensions not only for current, but also future Kazakhstani pensioners,” Bolat Bidakhmetovich shared in an exclusive interview.

Watch the full interview of Bolat Zhamishev on the БЖЗҚ ЕНПФ YouTube channel from September 4, 2023 at 

Subscribe to the БЖЗҚ ЕНПФ YouTube channel for interesting and useful information about the funded pension system.

The UAPF was established on August 22, 2013 on the basis of GNPF APF JSC. The UAPF founder and shareholder is the Government of the Republic of Kazakhstan represented by the State Institution “Committee of State Property and Privatization” of the Ministry of Finance of the Republic of Kazakhstan. UAPF pension assets are managed by the National Bank of the Republic of Kazakhstan. From January 1, 2016, the functions for developing proposals to improve the management of pension assets were transferred to the National Fund Management Council. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, pension benefits, individual accounting of pension accumulations and benefits, provides the contributor (beneficiary) with information on the status of his pension accumulations (for more information visit www.enpf.kz)