Pension asset management

Invest in your future with BCC Invest

Entrust part of your pension savings
to a professional investment
manager and grow your financial
potential in retirement
₸ 19,60 billion

Pension assets under management

28 years

of experience in Kazakhstan's investment market

Top-2

Among the country's top investment managers by assets under management

Benefits of transferring pension savings

Tax advantages

Investment income is not subject to individual income tax

No minimum amount

Entrust any available amount for management

Control and transparency

Funds remain subject to oversight by the UAPF and the regulatory authorities

Professional management

Pension assets are managed by a team of professional portfolio managers at BCC Invest

How BCC Invest manages assets

We follow proven principles and apply modern investment approaches to ensure sustainable growth of your pension savings

Balanced structure

More than 70%

of the portfolio is invested in debt instruments

The portfolio is focused on preserving stability and managing risk

Currency diversification

Up to 50%

of assets denominated in foreign currencies

Currency diversification helps mitigate foreign-exchange risk

Risk management

>70%

issuers rated BBB or above

The portfolio includes instruments with a high credit rating

Portfolio type

Conservative

balanced investment strategy

Focus on capital preservation and the stability of pension savings

Management strategy

To manage pension assets, BCC Invest uses a conservative investment strategy focused on capital preservation and stable long-term performance

Strategy type

Conservative investment strategy

Capital preservation

The primary objective of portfolio management

Suitable for

Contributors of all ages, except recipients of pension payments

Target level

Not less than 95% of the benchmark return

How are management results assessed?

The return of the pension portfolio is compared with the benchmark — a reference return calculated by the Authorised Body for each type of investment strategy.

If the return of the pension portfolio is below the benchmark, the investment manager compensates the difference out of its own equity capital.

01

UAPF

Pension assets are transferred for management to a licensed investment portfolio manager (IPM)

02

BCC Invest

The IPM manages the pension portfolio within the investment strategy

03

Comparison against the benchmark

The portfolio's return is compared with the minimum return (the benchmark)

04

Compensation for the return shortfall

If the return is below the benchmark, the company compensates for the shortfall out of its own equity capital

By asset class

Debt instruments (bonds)80,42%
Equity instruments (stocks, GDRs, ETFs)14,56%
Cash and money market instruments5,03%

By currency

KZT67,76%
USD32,24%
Data as at 01 July 2026

Asset management results

Historical return figures for the portfolio managed by BCC Invest
01.01.2022
8,37%
01.01.2023
2,75%
01.01.2024
13,05%
01.01.2025
15,21%
01.01.2026
9,93%
01.07.2026
11,41%
Current figure
Past performance is not indicative of future resultsData from enpf.kz
Data from enpf.kz

How to transfer pension savings to an IPM

Follow these steps in the UAPF mobile app
01

Open the UAPF mobile app

02

Tap «Transfer of savings to an IPM or return to the NBK»

03

Select the NBK in the «From» field and BCC Invest in the «To» field

04

Track the application in the «Services» section in the app until it reaches the status «Completed»

Open the UAPF mobile app

Get information about services

Or contact us

pensiya@bcc-invest.kz

We"ll answer all your questions

Frequently Asked Questions

  • Who can transfer pension savings to an IPM?
    Contributors who have an open pension account with the UAPF for mandatory pension contributions and are aged between 18 and 61 (for women in 2024) and up to 63 (for men) can transfer part of their pension savings. Contributors who have reached retirement age are not entitled to transfer their pension savings to an IPM.
  • When can pension savings be transferred back to the UAPF?
    Pension savings transferred to an IPM can be returned to the UAPF no earlier than 1 year from the date of transfer.
  • How long can a contributor's savings remain with the management company?
    Under pension legislation, pension savings transferred to an IPM may remain under management until the contributor reaches retirement age.
  • How often can pension savings be transferred to an IPM?
    Until they reach retirement age, a contributor has the right to transfer their pension savings to an IPM for trust management an unlimited number of times, up to the available amount.
  • Where can I check the amount of my pension savings and the amount available for transfer to an investment portfolio manager (IPM)?
    Information on the amount of your pension savings and the amount available for transfer to trust management can be found:
    • in your personal account on the UAPF website or in the UAPF mobile app;
    • on the eGov.kz portal or in the eGov Mobile app;
    • by visiting a UAPF branch in person.
  • How long does it take to transfer pension savings to an IPM?
    The UAPF transfers pension savings to trust management, and moves them between investment portfolio managers, within 30 calendar days of the date on which the application is submitted.
  • What should a contributor who has transferred their pension savings to an IPM do upon retirement?
    Under the current legislation, 10 days before the contributor reaches retirement age, the funds are automatically transferred from the IPM to the UAPF for the calculation and payment of pension benefits under the funded pension system.
  • What fees are charged for a transfer?
    There are no transfer fees when transferring pension savings from/to the UAPF. Exactly the amount specified in the application is transferred.
  • Can the accrued investment income on pension savings transferred to an IPM be withdrawn?
    Withdrawal of the investment income accrued on the amount of pension savings transferred to an IPM is not available. The investment income is credited to the pension account.
  • What will happen to my savings if the management company loses its licence, terminates its agreement with the UAPF, or goes bankrupt?
    If any of the above situations arise, the contributor's pension savings, together with the accrued investment income, may be transferred to another IPM or returned to the UAPF in accordance with the current legislation.
  • How can you monitor the activities of an IPM to which pension savings have been transferred?
    In accordance with the requirements of the law, IPMs are required to publish, on their official website each month, information about the pension savings transferred to them under management. In addition, information on the results of pension asset management, the structure of the investment portfolio, and the Investment Declaration are published on the UAPF website in the invest.enpf.kz section, as well as on enpf.kz under "Statistics and Analytics" / "Investment Management of Pension Assets" / "Review of Investment Activities and a Brief Overview of the Investment Portfolio of Pension Assets".
  • Where can I find information about my savings transferred to an IPM and the amount of accrued investment income?
    Since the pension savings transferred to an IPM are depersonalised, information on the amount of pension savings, as well as the amount of accrued investment income, is reflected in the statement from the individual pension account with the UAPF.
    The results of the management of your pension savings transferred to an IPM can be tracked in your UAPF personal account under "Obtain account statements": the account statement will show the sub-account managed by the IPM. The statement sets out the current amount of pension savings for the period, the amount of investment income, and the return on the pension assets.
  • Can a contributor independently choose financial instruments for investing their own pension savings?
    Pension savings are managed by BCC Invest JSC as a licensed investment portfolio manager. Investment decisions are made by professional portfolio managers in accordance with the Investment Declaration and the requirements of the legislation of the Republic of Kazakhstan.
  • How is the safety of pension savings transferred to an IPM guaranteed?
    The safety of pension assets is secured by requirements for IPMs to compensate, out of their own equity capital, any negative difference between the nominal return on pension assets achieved by the investment portfolio manager and the benchmark set for that type of investment portfolio.
  • Is it possible to choose an investment portfolio when transferring funds to an IPM?
    The contributor's choice is limited to selecting the investment manager. The contributor may only choose an investment portfolio offered by the selected IPM.
  • Is the transfer of pension savings to an IPM subject to income tax?
    No income tax is withheld when pension savings are transferred to trust management. No taxes are withheld during the period of trust management of pension savings either.
  • What is a benchmark?
    A benchmark is a reference return calculated by the Authorised Body for each type of investment portfolio. The return of the IPM's pension portfolio is compared against this reference. If the return falls below the benchmark (below 95% of the benchmark return), the IPM compensates the difference out of its own equity capital.
  • Does the investment portfolio manager charge a fee?
    The IPM fee is 6% of the investment income earned and is charged only if the return exceeds the established reference level (the benchmark).

Disclaimer. Essential Information

This material has been prepared by employees of BCC Invest JSC and is distributed solely for informational purposes. The distribution of this material does not constitute investment advisory activity. The information provided in this material does not constitute an individual investment recommendation.

This information is not an exhaustive account of relevant financial or commercial events and may not be used as such.

The recipient of this material should not rely solely on the information provided when making decisions. Any calculations, historical data, and other information that may be contained in this material have been prepared by BCC Invest employees on the basis of information and data obtained from public sources.  BCC Invest does not verify and is not obliged to verify the completeness, accuracy, or reliability of such information.

Any information provided by BCC Invest is used by the client solely at their own discretion and at their own risk. The information provided by BCC Invest does not constitute an offer to purchase and/or an obligation to invest pension assets, a solicitation to invest, or a recommendation to the Client on investment, tax, or legal matters, including on the question of whether investing pension assets is consistent with the Client's specific objectives. The Client must independently assess the option of transferring pension assets to the trust management of BCC Invest. The Client should not carry out the transfer if its economic and legal substance, documentation, terms, and associated risks remain unclear or do not correspond to the Client's objectives, intentions, and expectations.

Before transferring pension assets to the trust management of BCC Invest, recipients of this information should review the documents describing the process and the advisability of the transfer, and conduct comprehensive consultations with their financial, legal, tax, accounting, and other advisers prior to the transfer.

Past performance is not indicative of future results. The value of investments may fall or rise.

Information about projected positive returns may be regarded as nothing more than assumptions. Past investment performance does not determine future results, and the value of assets may both increase and decrease. BCC Invest makes no guarantees or representations and accepts no liability whatsoever in respect of the financial results that the Client may obtain based on the use of the information provided.


State license No. 3.2.235/12 dated July 10, 2018, for carrying out activities on the securities market.

Issued by the National Bank of the Republic of Kazakhstan.