IGI Life inks agreement with Mahaana Wealth for pension fund launch

MG News | January 12, 2024 at 03:29 PM GMT+05:00

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January 12, 2024 (MLN): IGI Life Insurance Limited (PSX: IGIL) has signed an agreement with Mahaana Wealth Limited for the establishment of its voluntary pension fund, the company's filing on the domestic equity market revealed today.

This development follows the Board of Directors' (BoD) authorization to commence the process of establishing the fund, subject to regulatory and corporate approvals, as of March 21, 2023.

Later on July 27, 2023, the Securities And Exchange Commission Of Pakistan (SECP) registered the company as a pension fund manager.

The establishment of the pension fund is a significant step forward for IGI Life as it expands its range of financial services to customers.

Moreover, it will provide an opportunity for individuals to save for their retirement, while also benefitting from expert investment advice.

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