For All Your Retirement Needs

Voluntary pension system is a defined contribution pension plan, that facilitates individuals to save for their retirement in a systematic and disciplined manner.

• Voluntary Pension system Rules, 2005;
• NBFC & NE Regulations, 2008; and
• Income tax ordinance, 2001; and
• Companies Ordinance, 1984.

The pension funds are suitable for the following investors:
• All Pakistani Nationals/Expatriate Pakistanis over 18 with valid Computerized National Identity Cards (CNIC) or National Identity Card for Overseas Pakistanis (NICOP) and desirous of availing tax credit. Such individuals may include -Salaried individuals; Self-employed individuals (sole-proprietors)

• All Employers who wish to provide a pensions system for their employees welfare and are unable to do so currently. Such employers may include Corporates, SMEs or any Entrepreneur/ business-men who wish to provide benefit as an additional remuneration to their valued employees.

• Recognized provident funds that have the provision allowing them to transfer these funds to a professionally managed Private Pension Fund Manager

Eligible person(s) themselves as well as along with their employers are allowed to contribute into one or more pension funds. The amount of contribution can be paid in one lump sum or in installments into one or more pension funds.
Partial or full balance from Provident/Superannuation funds can be also transferred to Voluntary Pension Funds.

VPS account can be only pledged against loan/advance given by employer to employee.
However VPS accounts can not be adjusted against any liability, attached in the execution of any court decree and chargeable or assignable due to bankruptcy of the participant.

No capital Gain Tax is applicable in VPS

Yes. The investment income or gains earned by each sub-fund is added to the respective sub-funds (in NAVs) without any tax deduction.

You may get rebate of up to 20%

Yes, the individual pension account can be pledged, marked lien/encumbrance against any loan or advance given by the employer to the employee