PQFTL distributes 28pc surplus

LAHORE: Pak-Qatar Family Takaful Limited (PQFTL) has announced the distribution of 28 percent surplus among its individual family takaful participants (direct sales force-DSF) for the year 2016, a statement said on Tuesday.

With this declaration of surplus, PQFTL is the only takaful operator in Pakistan to declare distributable surplus for individual family takaful in all nine years of its operations, it added. The single-rate method has been adopted to calculate the surplus and will be distributed among the participants through a defined manner in relation to the “Cumulative Net Contribution” received in the IFTPF (Individual Family Takaful Participant Fund) by each participant.

Furthermore, the actual distribution of surplus will be done only to those participants leaving the pool during the year 2017, by way of permanent withdrawal, death or maturity of the memberships, it added.