SECP grants NOC for launching four VPS fund schemes for KP Govt employees

News Image

MG News | June 06, 2023 at 03:47 PM GMT+05:00

0:00

June 06, 2023 (MLN): 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 press issued by SECP showed.

These schemes will be offered by two pension fund managers (PFM), specifically for Khyber Pakhtunkhwa (KP) Government employees. Central Depository Company of Pakistan Limited (CDC) would be the trustee of these funds.

The voluntary Pension System (VPS) is a self-contributory defined contribution pension scheme open to all adult Pakistanis having a computerized national identity card (CNIC).

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.

These 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 KPK Government.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 140,073.62
115.15M
1.20%
1661.37
ALLSHR 86,726.84
234.90M
1.19%
1023.88
KSE30 42,834.24
64.90M
1.37%
579.40
KMI30 197,407.42
68.62M
1.70%
3297.83
KMIALLSHR 57,546.52
120.05M
1.47%
832.85
BKTi 38,209.72
8.14M
1.00%
378.38
OGTi 28,511.02
31.88M
3.90%
1070.39
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 119,400.00 119,430.00
117,905.00
1780.00
1.51%
BRENT CRUDE 72.20 72.82
72.16
-1.04
-1.42%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 69.82 70.41
69.80
-0.18
-0.26%
SUGAR #11 WORLD 16.46 16.58
16.37
-0.13
-0.78%

Chart of the Day


Latest News
July 31, 2025 at 12:06 PM GMT+05:00

Crescent Star Insurance resumes 'Guarantee Business'


July 31, 2025 at 12:01 PM GMT+05:00

Bawany Air Products back on PSX Normal Counter


July 31, 2025 at 11:20 AM GMT+05:00

Sitara Peroxide narrows annual loss by 77%



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg