ENPF

What ENPF does

ENPF (Единый накопительный пенсионный фонд / Unified Accumulative Pension Fund) is the sole state-mandated accumulative pension fund of the Republic of Kazakhstan, structured as a Joint Stock Company headquartered in Almaty. It administers mandatory pension contributions (MPC, currently 10% of salary with planned increases to 15%), mandatory professional pension contributions (MPPC) for workers in hazardous occupations, voluntary pension contributions (VPC), and notional EMPC accounts, serving 12,580,797 individual pension accounts and 5,904,688 notional accounts as of 01.06.2026. Operations are governed by the Social Code of the Republic of Kazakhstan and the Law on the Securities Market, with oversight from the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (ARRFR) and the National Bank of Kazakhstan as the default trust manager of pension assets under a default trust management contract.

The fund operates a proprietary pension information system that maintains individual accounts, processes contributions and investment income, executes transfers to six licensed Investment Portfolio Managers (IPMs), and administers pension payments, with target asset accounting denominated in USD and a three-line COSO-aligned risk management framework. Its product ecosystem spans the ENPF mobile application (iOS/Android), the cabinet.enpf.kz personal account portal, the invest.enpf.kz IPM portal, the kids.enpf.kz National Fund for Children platform, the Zenet.kz personal pension planning tool, and a pension calculator, supplemented by an omnichannel call center (1418), WhatsApp/Viber chat, regional branches, and the quarterly PRO ENPF magazine.

Revenue is generated via management commissions paid by Investment Portfolio Managers, capped at 7.5% of investment income (with National Bank of Kazakhstan as the default manager), deducted from investment returns rather than charged directly to contributors. As a state-mandated entity, ENPF has no commercial pricing tiers and operates as a regulated public infrastructure provider. Its ISO 9001:2015 certification and digital channel expansion underscore a maturing operational platform, while ongoing regulatory developments — including the planned MPC rate increase, the National Fund for Children program, and EAEU/Mongolia pension cooperation — indicate a strategic broadening of contributor base and product surface.

Name

ENPF

Legal name

Joint Stock Company "Unified Accumulative Pension Fund"

Website

https://enpf.kz

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

ENPF (Unified Accumulative Pension Fund) is Kazakhstan's sole state-mandated accumulative pension fund, administering mandatory, professional, and voluntary pension contributions for over 12.5 million individual contributors and 5.9 million notional accounts under Social Code oversight. It earns IPM management commissions on ~26.6 trillion KZT of pension assets via a proprietary pension information system and digital channel network.

Ownership category

akta.pro rank

Product category

Pension Fund Management

NAICS

Pension Funds (525110), Pension Funds (52511), Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

SIC

Investment Advice (6282)

akta.pro primary industry

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB)

akta.pro secondary industries

Pensions & Retirement Benefits Administration (BPAIAKAA), Employee Benefit & Retirement Plan Trust Services (FSAAANAC)

Keywords

• Mandatory pension contributions
• Pension fund management
• Retirement savings administration
• Pension asset management
• Pension payment services

Headquarters

HQ city

Almaty

HQ country

Kazakhstan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Pension Asset Management Fees: ENPF earns management fees from the pension assets it administers. Investment Portfolio Managers (IPMs) charge a commission not exceeding 7.5% of investment income. The National Bank of Kazakhstan manages pension assets by default under a trust management contract with ENPF. IPM fees are deducted from investment income generated.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

ENPF is Kazakhstan's unified accumulative pension fund, operating the state-mandated individual pension account system. It receives, records, and administers mandatory pension contributions (MPC/ОПС), mandatory professional pension contributions (MPPC/ОППС) from employers with workers in hazardous occupations, and voluntary pension contributions (VPC/ДПС) from individuals; it transfers accumulated assets to licensed Investment Portfolio Managers and disburses pension payments to retirees and beneficiaries.

Product overview

ENPF (Unified Accumulative Pension Fund) is a single state-run pension fund platform operating as a unified system that consolidates all pension savings in Kazakhstan. The core platform provides pension savings management through individual pension accounts for mandatory pension contributions (MPC), mandatory professional pension contributions (MPPC), and voluntary pension contributions (VPC). The product ecosystem includes the Personal Account (Личный кабинет) web portal and Mobile App for 24/7 account access, the invest.enpf.kz portal for transferring funds to Investment Portfolio Managers, the pension calculator for estimating future benefits, and the kids.enpf.kz National Fund for Children program. Additional services include callback requests, online queue booking, and document pre-check. The fund also publishes the PRO ЕНПФ quarterly magazine and offers a Personal Pension Plan (Zei.net.kz).

Differentiator

Problem solved

Functional benefit

Brands

• PRO ENPF: Quarterly magazine covering topics of the accumulative pension system and results of the pension fund's activities.
• National Fund for Children
• Zenet.kz

Products and services

• Mandatory Pension Contributions (MPC / ОПС) Mandatory, employer-withheld pension contributions credited to individual pension accounts administered by ENPF for working citizens of Kazakhstan.
• Mandatory Professional Pension Contributions (MPPC / ОППС) Statutory additional pension contributions for workers in hazardous occupations, funded by employers and administered through ENPF individual accounts.
• Voluntary Pension Contributions (VPC / ДПС) Optional individual pension contributions to top up mandatory savings and improve retirement outcomes.
• Investment Portfolio Management (transfer to IPMs incl. NBRK) Administration of the transfer of contributor pension assets to a licensed Investment Portfolio Manager; the National Bank of Kazakhstan serves as the default conservative manager.
• Pension Payment Services Disbursement of pension benefits to retirees and beneficiaries from their individual pension accounts.
• Individual Pension Account Information Services Online and offline account-information services enabling contributors to view balances, contribution history, and beneficiary data via the ENPF portal, mobile app, contact center and e-Government integrations.
• Voluntary Pension Contribution Top-Up via Virtual Card (Sum/Узнать сумму) Voluntary pension contribution top-up functionality offered as part of the contributor-facing "Sum" (Узнать сумму) service for monitoring and increasing retirement savings.

Quantifiable outcome

• 26,576,309,172 thousand KZT in pension assets managed as of June 2026
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• National Bank of the Republic of Kazakhstan (NB RK)coreStrategic or Co-development PartnerThe National Bank of Kazakhstan is the default manager of pension assets held by ENPF. By default, all contributors' pension assets are managed by the NB RK under a trust management contract with ENPF. Contributors may transfer up to 50% of MPC and MPPC to Investment Portfolio Managers, and up to 100% of VPC to IPMs, reducing the portion managed by NB RK.
• Custodian BankcoreTechnology or IntegrationThe custodian bank holds and accounts for pension assets under a custodial contract with ENPF and the IPM. The custodian bank, along with ENPF and the IPM, executes the trust management agreement for pension assets.
• Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (ARRFR)coreOthersThe ARRFR is the authorized regulator for Kazakhstan's financial market and financial organizations. ENPF's activities are regulated under the Social Code of the Republic of Kazakhstan and the Law On the Securities Market. ARRFR establishes rules for risk management and internal control systems for accumulative pension funds.

Scale indicators7 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• AustralianSuper: Largest Australian superannuation fund managing ~$300B for employer-sponsored mandatory contributions under the Superannuation Guarantee. Comparable mandate structure to ENPF's MPC compulsory contribution flow.
• APG Group (Netherlands): Dutch pension administrator managing ~$700B for several Dutch pension funds through collective and individual value-transfer arrangements. Comparable large-scale pension administration services comparable to ENPF's nation-wide stewardship role.
• CalPERS: California Public Employees' Retirement System managing ~$500B for public sector retirees. Although broader in scope including defined benefit pensions, CalPERS' scale and state-mandate characteristics parallel ENPF's national pension administration.
• Canada Pension Plan Investment Board (CPPIB): Professional investment organization managing ~$500B of Canada Pension Plan contributions. While broader in mandate and scale, CPPIB provides a comparable institutional pension asset manager reference point for ENPF's asset stewardship function.

Regional players

• India Employees' Provident Fund Organisation (EPFO): Statutory body managing mandatory retirement savings for ~60M Indian formal sector workers under the Employees' Provident Funds and Miscellaneous Provisions Act. Operates across an emerging economy with parallel mandatory DC structure to ENPF.

Direct peers

• Korea National Pension Service (NPS): Mandatory national pension scheme for South Korea managing ~$900B in assets for ~22M subscribers. Operates under government mandate and provides near-direct functional comparability to ENPF as a state-mandated pension administrator serving employed contributors.
• Singapore Central Provident Fund (CPF): Mandatory savings scheme for Singapore citizens and PRs with mandatory employer/employee contributions covering retirement, housing, and healthcare. Closely mirrors ENPF's multi-purpose accumulated pension mandate.
• Sweden AP Funds (AP1-AP7): Swedish buffer funds managing mandatory premium reserve contributions within the public income pension system. Multi-fund structure with government-mandated roles parallels ENPF's relationship with IPM partners.
• Malaysia Employees Provident Fund (EPF): Mandatory defined contribution pension fund for Malaysian private and public sector employees managing ~$250B. Provides directly comparable mandate and account-based structure to ENPF's MPC system.
• Japan Government Pension Investment Fund (GPIF): World's largest pension fund managing ~$1.5T for Japan's public pension system. Operates as government-mandated investment arm pooling mandatory contributions, structurally analogous to ENPF's National Bank-managed default investment mode.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCzib0JptagKTWWXsFOvPuaQ
• Xx.com/ENPFkz
• Facebookfacebook.com/enpf.kz
• LinkedInlinkedin.com/company/enpfkz

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ENPF