Al-Ameen Islamic Retirement Savings Fund (AIRSF)*

*formerly UBL Islamic Retirement Savings Fund (UIRSF)

Retirement is an opportunity to enter a new phase of your life. With Al-Ameen Islamic Retirement Savings Fund (AIRSF) you can ensure a financial independent and care free life even after you stop working.

Plan now, Retire later

Generally, saving for retirement may not be your main priority when you start work or even 20 to 30 years from your expected retirement age. Retiring may seem like a long way off right now. However, whether you would like to enjoy life’s luxuries or live a basic lifestyle in the future, a retirement plan is necessary. No matter what your retirement dream may be, it is important to continually build your savings so you can be financially secure as you grow older.

The illustration given below shows the growth in savings for three individuals who start planning for their retirement at different times and invest a regular sum of money in their account on a monthly basis. As you can see, the sooner you start saving for your retirement, the more time your money has to grow.

How Al-Ameen Islamic Retirement Savings Fund can help

The objective of having a retirement plan is to ensure that you accumulate enough savings to replace your current income. Most of us encounter difficulties in setting aside a lump sum amount for our retirement as there may be commitments to prioritize, such as financing our home, children’s education and meeting regular expenses.

Al-Ameen Islamic Retirement Savings Fund (AIRSF) [formerly UBL Islamic Retirement Savings Fund (UIRSF)] is a Shariah-compliant customized pension plan designed to offer you with an easy and affordable means of growing your savings so you can achieve a financially independent and rewarding life after retirement. You can open an account in Al-Ameen Islamic Retirement Savings Fund (AIRSF) [formerly UBL Islamic Retirement Savings Fund (UIRSF)] with just Rs. 500 and then invest a regular amount of money in your plan until the time you plan to retire. On reaching your retirement age, you can access 50% of your accumulated savings in lump sum while getting the remaining amount as regular income on a periodic basis.

Features & Benefits

  • Start investing with as little as Rs. 500 – We have made the first step easy by enabling you to save towards your retirement with as low as Rs. 500/- only
  • Lump sum & Regular Contribution Option – You can choose to invest a lump sum amount or invest regularly on a monthly, quarterly, semi-annual or annual basis
  • Flexible allocation schemes to match your needs – We understand that everyone is different and one option may not suit everyone. That is why we offer a number of investment ‘allocation schemes’ that you can choose from. Our investment advisors will help you determine the most appropriate scheme by taking into consideration your current age, retirement goals, risk appetite and return expectations
  • Attractive tax benefits – You can avail a tax credit on your investment, resulting in an overall saving on your income tax deductions for the year To find out how much tax credit you can get, use our Tax Savings Calculator. That’s not all, you can withdraw a substantial amount from your funds without any tax deductions at the time of retirement (as per VPS Rules/Tax Law)
  • Post Retirement Benefit: You will have following options at Retirement – You can withdraw up to 50% cash tax-free from your retirement balance, Purchase an annuity with the balance or Enter into an approved Income Payment Plan up to a maximum 75 years age and then purchase an annuity from a life insurance company.However, everyone may not need full 50% cash lump-sum at the time of retirement Equation is simple – the less you wish to withdraw as Cash lump-sum (i.e. at the time of retirement, the more Pension Income you will be able to receive post retirement.

Managed as per Shariah Law

Al-Ameen Islamic Retirement Savings Fund (AIRSF) [formerly UBL Islamic Retirement Savings Fund (UIRSF)] is managed by UBL Fund Managers. All investments in the scheme are made strictly in Shariah-compliant instruments under the supervision of a Shariah Advisory Board which comprises of renowned Islamic scholars Mufti Muhammad Hassan Kaleem and Mufti Najeeb Khan.

Disclaimer: All investments in Pension Funds are subject to market risks. The value of such investments may depreciate as well as appreciate subject to market fluctuations and risks inherent in all such investments. Investors should read the Offering Document carefully to understand the investment policies, risks and tax implications and should consult their legal, financial, or tax advisor before making any investment decisions. Withdrawals from the Pension Fund before the retirement age are subject to tax under the provisions of the Income Tax Ordinance, 2001.