ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has granted no objection certificates (NOCs) on the trust deeds of four voluntary pension fund schemes, including two shariah based schemes, a statement said on Tuesday. The schemes will be offered by two pension fund managers (PFM), specifically for Khyber Pakhtunkhwa (KP) government employees. Central Depository Company of Pakistan Limited would be the trustee of the funds.
Voluntary Pension System is a self-contributory defined contribution pension scheme open to all adult Pakistanis having a computerised national identity card. It has been established under the Voluntary Pension System Rules, 2005 under which employed and self-employed individuals can voluntarily contribute to a pension fund managed by PFM, during their working life to provide regular income after retirement.
“The new pension schemes will be funded through a combination of employee and government contributions, ensuring future fiscal sustainability. These pension funds shall be managed by a PFM licensed by SECP and registered with KP government,” SECP said.
A disabled man casting his vote in Indian elections on May 1, 2024. — X/@CEOMPElectionsNOIDA: To go back home in...
People attend the 2023 Spring Meetings inside the International Monetary Fund in Washington, US, April 12, 2023. —...
A representational image showing a Tesla Model Y during the opening of the Tesla Gigafactory in Gruenheide, east of...
Established in 1998, IceWarp has presence in more than 100 countries and provides specialized and highly...
Women walk past a “Now Hiring” sign outside a store on August 16, 2021 in Arlington, Virginia. — AFPWASHINGTON:...
Reko Diq, one of the biggest yet-to-be-developed copper mines in the world, is also 50 percent owned by the government...