Voluntary pension accounts gain popularity

Voluntary pension contributions are becoming increasingly popular among the population of Kazakhstan. It turned out that in the first quarter of 2022, Kazakh residents invested 87 percent more in the pension fund compared to the same period in 2021. Over the past three years, voluntary contributions have been growing by an average of 45 percent a year. The growth trend, according to analysts, is due to the development of the pension system and the simplification of the procedure for opening individual pension accounts. To open a pension account Kazakh citizens no longer need to apply to the UAPF. Since May of last year, the first voluntary contribution to the pension fund became the basis for its opening.

Editing by Galiya Khassenkhanova