ASTANA – Financial literacy in Kazakhstan’s pension system continued to improve in 2025, according to a nationwide survey of 3,000 adults conducted across all regions of the country. The study assessed public knowledge of pension rules, trust in the pension system, and participation in the pension model.
Kazakhstan’s pension system is based on a mixed model that includes basic and solidarity pensions paid from the state budget, alongside mandatory and voluntary funded savings managed through the Unified Accumulative Pension Fund. Photo credit: egov.kz
The main section of the survey questionnaire consisted of 26 questions aimed at identifying the financial literacy of the population in terms of pension provision, as well as determining the degree of trust in the pension system of Kazakhstan and the Unified Accumulative Pension Fund, the country’s single operator for funded pensions, responsible for collecting mandatory and voluntary contributions, maintaining individual pension accounts and making pension payments from accumulated savings.
Results show that 74.2% of respondents demonstrated a basic level of pension literacy, up slightly from the previous year, while 45.3% reached an advanced level, indicating a stable upward trend. Most respondents correctly identified the structure of Kazakhstan’s mixed pension system, the key types of contributions, the retirement age, and the means of accessing individual pension accounts.
“Basic financial literacy questions are aimed at determining knowledge about pension responsibility, the structure of the Kazakh pension system, types, amounts, and sources of pension payments, the functions of the fund, and the official retirement age in Kazakhstan,” reads the statement.
To assess advanced financial literacy, respondents were asked questions requiring more in-depth knowledge, including an understanding of how pension assets are invested, how pension benefits are calculated, the functioning of pension annuities, taxation within the funded pension system, and the state guarantee on the preservation of pension savings.
“Both basic and advanced levels of pension-related financial literacy in Kazakhstan showed steady growth in 2025 compared with the previous two years. Most citizens now view their accumulated savings in the Unified Accumulative Pension Fund as their primary source of retirement income,” reads the statement.
Basic literacy
The survey demonstrates that the public is generally well informed about the main types of pension contributions. Mandatory pension contributions were the most widely recognized, cited by 90.1% of respondents. A total of 2,413 respondents (80.4%) correctly identified the mandatory contribution rate at 10% of income.
Public engagement with the pension system has increased significantly. The share of citizens who have ever made voluntary contributions to the Unified Accumulative Pension Fund increased from 42.7% in 2021 to 78.7% in 2025, reflecting a decline in informal employment and broader system coverage.
“In response to the question of what is the retirement age in Kazakhstan, 2,523 respondents (84.1%) correctly stated that the country applies a differentiated retirement age: 63 for men and 61 for women in 2025. This reflects a strong understanding of current pension policy and the changes introduced in recent years regarding the retirement age for women,” reads the statement.
The survey indicates that employment status has a noticeable impact on how accurately people understand the retirement age in Kazakhstan. Salaried employees are the most informed group, with 84.9% providing the correct answer. This is likely due to their regular interaction with employers and accounting departments, as well as more frequent access to official information.
Self-employed respondents demonstrated slightly lower awareness than salaried workers, though they remained better informed than the unemployed, with 82.8% answering correctly. This may be explained by less consistent contact with financial institutions and the absence of an employer as a source of information.
Advanced literacy level
When asked who invests pension assets to generate returns, 58.2% of respondents (1,745 people) answered correctly, citing the National Bank of Kazakhstan and/or private investment portfolio managers, depending on the contributor’s choice. Nearly one-third (34.1%) named both, while 14.3% identified only the National Bank and 9.8% only portfolio managers, suggesting reasonable awareness but limited understanding of pension asset management.
When asked how investment income is accrued on pension savings, 750 respondents (25%) correctly stated that returns fluctuate with market conditions and asset values.
More broadly, 56.1% of respondents (1,682 people) showed an understanding that pension savings are invested in financial instruments rather than simply held in accounts. Of these, 45.6% were aware that their savings were invested, while 10.5% reported regularly monitoring investment performance.
Pension payments from the Unified Accumulative Pension Fund were previously subject to individual income tax but are now exempt starting Jan. 1, 2026, a fact correctly identified by 38% of respondents (1,141 people). Overall, 56% of respondents believe pension payments are taxed in some form, though views differ widely on which tax applies, highlighting gaps in understanding of pension taxation rules.
Trust in the system and access to information
Trust in the pension system and the pension fund remains moderately positive, with respondents expressing cautious confidence rather than full trust. Access to information is generally viewed as adequate, with digital platforms and social media now the primary sources of pension-related information, overtaking traditional media.
The findings highlight the need for continued efforts to improve pension literacy, expand digital communication, and strengthen public understanding of investment, taxation, and long-term retirement planning.
