Voluntary Pension Schemes
The Voluntary Pension Schemes (VPS) provides a portable, individualized, flexible and funded (based on defined contribution) framework to the individuals to save and invest during their working life and receive income and payments in the period after their retirement.
VPS was introduced in 2007 under the Voluntary Pension System Rules 2005 by the Securities and Exchange Commission of Pakistan (SECP) as part of the Government's efforts to encourage retirement savings and allowing individuals to choose the investment strategy that best suits their needs.
Under the VPS, individuals can contribute to their retirement savings on a voluntary basis and receive tax credit on their contributions up to a certain limit under the Income Tax Ordinance, 2001. The contributions made to the VPS are invested in various investment options such as equity, debt, and money market instruments, and the returns on these investments accumulate over time which are further classified in Conventional and Shariah Compliant Schemes.
Retirement age can be anytime between the age of 60 and 70 years or after 25 years of contribution. The later the age of retirement, the more monthly pension the investor will get. At retirement age, individuals can withdraw their savings as a lump sum or opt for a regular pension payments.
Sub-Funds:
VPS is a one-window operation which provides investments in a diversified portfolio of equity securities and fixed income instruments. SECP has mandated investment policies govern each asset class.
Each VPS has minimum three sub-funds, under the umbrella.
- Equity Sub Fund: The objective of the Equity sub fund is by investing in listed equity securities to achieve long term capital growth.
- Debt Sub Fund: The objective of the Debt sub fund is to provide income along with capital preservation by investing primarily in tradable debt securities.
- Money Market Sub Fund: The objective of the Money Market sub fund is to provide regular income along with capital preservation by investing primarily in short term debt securities.
Allocation Schemes
The contributions made in the VPS are allocated the units of sub-funds at Net Asset Value, as per the Allocation Scheme selected by individual. SECP has mandated that minimum four allocation schemes, namely High Volatility, Medium Volatility, Low Volatility, and Lower Volatility Schemes must be offered by every pension fund. In addition to these four mandatory schemes, the pension fund managers can additionally offer two allocation schemes, namely Lifecycle and Customized Allocation Schemes.
The details of the allocations schemes are as follows:
| Allocation Scheme | Suitable For | Equity Sub-Fund | Debt Sub- Fund | Money Market Sub-Fund |
| Minimum investment* | ||||
| High Volatility | Investors with long term investment horizon and/ or high tolerance for risk. | 65% | 20% | Nil |
| Medium Volatility | Investors with long to medium term investment horizon and/or moderate tolerance for risk. | 35% | 40% | 10% |
| Low Volatility | Investors with medium to short term investment horizon and/or lower tolerance for risk. | 10% | 60% | 15% |
| Lower Volatility | Investors with short term investment horizon and/or very low tolerance for risk. | Nil | 40% | 40% |
| Life Cycle Allocation | Investors wanting to adopt a systematic investment approach.
| Starting with a higher equity investment allocation for an individual aged 18 years, the equity allocation is gradually reduced and transferred to Debt and Money Market Sub-Funds as an individual reaches the age 60 years. Varying allocation between the Sub-Funds in accordance with the age and risk tolerance capability of the Participant. | ||
Customized Allocation
| Investors wanting to adopt a customized investment approach. | 0-80% | 20-75% | 0-60% |
| * Total allocation to be 100% between the sub-funds. | ||||
The VPS is managed by a licensed pension fund manager that can be an asset management company or an insurance company.
| AMC Name | Search Fund | Search AMC | Search Category |
|---|---|---|---|
ABL Islamic Pension Fund
ABL Asset Management Company Limited
222.77 NAV 230.53 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | ABL Asset Management Company Limited | VPS-Shariah Compliant Debt |
ABL Islamic Pension Fund
ABL Asset Management Company Limited
634.59 NAV 656.67 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | ABL Asset Management Company Limited | VPS-Shariah Compliant Equity |
ABL Islamic Pension Fund
ABL Asset Management Company Limited
225.77 NAV 233.63 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | ABL Asset Management Company Limited | VPS-Shariah Compliant Money Market |
ABL Pension Fund
ABL Asset Management Company Limited
|
Voluntary Pension Scheme (VPS) | ABL Asset Management Company Limited | VPS-Debt |
ABL Pension Fund
ABL Asset Management Company Limited
|
Voluntary Pension Scheme (VPS) | ABL Asset Management Company Limited | VPS-Equity |
ABL Pension Fund
ABL Asset Management Company Limited
|
Voluntary Pension Scheme (VPS) | ABL Asset Management Company Limited | VPS-Money Market |
Al Ameen Islamic Retirement Savings Fund
UBL Fund Managers Limited
366.55 NAV 366.55 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | UBL Fund Managers Limited | VPS-Shariah Compliant Debt |
Al Ameen Islamic Retirement Savings Fund
UBL Fund Managers Limited
3097.86 NAV 3097.86 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | UBL Fund Managers Limited | VPS-Shariah Compliant Equity |
Al Ameen Islamic Retirement Savings Fund
UBL Fund Managers Limited
354.98 NAV 354.98 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | UBL Fund Managers Limited | VPS-Shariah Compliant Money Market |
AL Habib Islamic Pension Fund
AL Habib Asset Management Limited
163.08 NAV 167.97 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | AL Habib Asset Management Limited | VPS-Shariah Compliant Money Market |
AL Habib Islamic Pension Fund
AL Habib Asset Management Limited
510.90 NAV 526.23 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | AL Habib Asset Management Limited | VPS-Shariah Compliant Equity |
AL Habib Islamic Pension Fund
AL Habib Asset Management Limited
166.43 NAV 171.42 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | AL Habib Asset Management Limited | VPS-Shariah Compliant Debt |
AL Habib Pension Fund
AL Habib Asset Management Limited
|
Voluntary Pension Scheme (VPS) | AL Habib Asset Management Limited | VPS-Equity |
AL Habib Pension Fund
AL Habib Asset Management Limited
|
Voluntary Pension Scheme (VPS) | AL Habib Asset Management Limited | VPS-Debt |
AL Habib Pension Fund
AL Habib Asset Management Limited
|
Voluntary Pension Scheme (VPS) | AL Habib Asset Management Limited | VPS-Money Market |
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Alfalah GHP Islamic Pension Fund
Alfalah Asset Management Limited
211.41 NAV 218.71 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Alfalah Asset Management Limited | VPS-Shariah Compliant Debt |
Alfalah GHP Islamic Pension Fund
Alfalah Asset Management Limited
216.62 NAV 224.09 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Alfalah Asset Management Limited | VPS-Shariah Compliant Money Market |
Alfalah GHP Islamic Pension Fund
Alfalah Asset Management Limited
342.58 NAV 354.40 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Alfalah Asset Management Limited | VPS-Shariah Compliant Equity |
Alfalah GHP Pension Fund
Alfalah Asset Management Limited
|
Voluntary Pension Scheme (VPS) | Alfalah Asset Management Limited | VPS-Equity |
Alfalah GHP Pension Fund
Alfalah Asset Management Limited
|
Voluntary Pension Scheme (VPS) | Alfalah Asset Management Limited | VPS-Money Market |
Alfalah GHP Pension Fund
Alfalah Asset Management Limited
|
Voluntary Pension Scheme (VPS) | Alfalah Asset Management Limited | VPS-Debt |
Alfalah Pension Fund - II (Formerly: Faysal Pension Fund)
Alfalah Asset Management Limited
|
Voluntary Pension Scheme (VPS) | Alfalah Asset Management Limited | VPS-Money Market |
Alfalah Pension Fund - II (Formerly: Faysal Pension Fund)
Alfalah Asset Management Limited
|
Voluntary Pension Scheme (VPS) | Alfalah Asset Management Limited | VPS-Debt |
Alfalah Pension Fund - II (Formerly: Faysal Pension Fund)
Alfalah Asset Management Limited
|
Voluntary Pension Scheme (VPS) | Alfalah Asset Management Limited | VPS-Equity |
Alhamra Islamic Pension Fund
MCB Investment Management Limited
2256.04 NAV 2256.04 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | MCB Investment Management Limited | VPS-Shariah Compliant Equity |
Alhamra Islamic Pension Fund
MCB Investment Management Limited
460.22 NAV 460.22 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | MCB Investment Management Limited | VPS-Shariah Compliant Debt |
Alhamra Islamic Pension Fund
MCB Investment Management Limited
417.90 NAV 417.90 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | MCB Investment Management Limited | VPS-Shariah Compliant Money Market |
Atlas Pension Fund
Atlas Asset Management Limited
|
Voluntary Pension Scheme (VPS) | Atlas Asset Management Limited | VPS-Money Market |
Atlas Pension Fund
Atlas Asset Management Limited
|
Voluntary Pension Scheme (VPS) | Atlas Asset Management Limited | VPS-Equity |
Atlas Pension Fund
Atlas Asset Management Limited
|
Voluntary Pension Scheme (VPS) | Atlas Asset Management Limited | VPS-Debt |
Atlas Pension Islamic Fund
Atlas Asset Management Limited
495.30 NAV 495.30 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Atlas Asset Management Limited | VPS-Shariah Compliant Money Market |
Atlas Pension Islamic Fund
Atlas Asset Management Limited
467.63 NAV 467.63 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Atlas Asset Management Limited | VPS-Shariah Compliant Debt |
Atlas Pension Islamic Fund
Atlas Asset Management Limited
2872.03 NAV 2872.03 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Atlas Asset Management Limited | VPS-Shariah Compliant Equity |
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AWT Islamic Pension Fund
AWT Investments Limited
108.80 NAV 108.80 Offer Price VPS-Shariah Compliant Money Market Category
Low
Risk Profile |
Voluntary Pension Scheme (VPS) | AWT Investments Limited | VPS-Shariah Compliant Money Market |
AWT Islamic Pension Fund
AWT Investments Limited
|
Voluntary Pension Scheme (VPS) | AWT Investments Limited | VPS-Shariah Compliant Equity |
AWT Islamic Pension Fund
AWT Investments Limited
110.45 NAV 110.45 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | AWT Investments Limited | VPS-Shariah Compliant Debt |
EFU Hemayah Pension Fund
EFU Life Assurance Limited
|
Voluntary Pension Scheme (VPS) | EFU Life Assurance Limited | VPS-Shariah Compliant Equity |
EFU Hemayah Pension Fund
EFU Life Assurance Limited
|
Voluntary Pension Scheme (VPS) | EFU Life Assurance Limited | VPS-Shariah Compliant Debt |
EFU Hemayah Pension Fund
EFU Life Assurance Limited
100.93 NAV 101.00 Offer Price VPS-Shariah Compliant Money Market Category
Low
Risk Profile |
Voluntary Pension Scheme (VPS) | EFU Life Assurance Limited | VPS-Shariah Compliant Money Market |
Faysal Islamic Pension Fund
Faysal Asset Management Limited
378.45 NAV 391.50 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Faysal Asset Management Limited | VPS-Shariah Compliant Equity |
Faysal Islamic Pension Fund
Faysal Asset Management Limited
177.67 NAV 183.80 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Faysal Asset Management Limited | VPS-Shariah Compliant Debt |
Faysal Islamic Pension Fund
Faysal Asset Management Limited
182.13 NAV 188.41 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Faysal Asset Management Limited | VPS-Shariah Compliant Money Market |
HBL Islamic Pension Fund
HBL Asset Management Limited
1259.47 NAV 1259.47 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | HBL Asset Management Limited | VPS-Shariah Compliant Equity |
HBL Islamic Pension Fund
HBL Asset Management Limited
331.11 NAV 331.11 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | HBL Asset Management Limited | VPS-Shariah Compliant Debt |
HBL Islamic Pension Fund
HBL Asset Management Limited
312.73 NAV 312.73 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | HBL Asset Management Limited | VPS-Shariah Compliant Money Market |
HBL Pension Fund
HBL Asset Management Limited
|
Voluntary Pension Scheme (VPS) | HBL Asset Management Limited | VPS-Debt |
HBL Pension Fund
HBL Asset Management Limited
|
Voluntary Pension Scheme (VPS) | HBL Asset Management Limited | VPS-Equity |
HBL Pension Fund
HBL Asset Management Limited
|
Voluntary Pension Scheme (VPS) | HBL Asset Management Limited | VPS-Money Market |
JS Islamic Pension Savings Fund
JS Investments Limited
411.96 NAV 411.96 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | JS Investments Limited | VPS-Shariah Compliant Money Market |
JS Islamic Pension Savings Fund
JS Investments Limited
2112.40 NAV 2112.40 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | JS Investments Limited | VPS-Shariah Compliant Equity |
JS Islamic Pension Savings Fund
JS Investments Limited
437.64 NAV 437.64 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | JS Investments Limited | VPS-Shariah Compliant Debt |
JS Pension Savings Fund
JS Investments Limited
|
Voluntary Pension Scheme (VPS) | JS Investments Limited | VPS-Equity |
JS Pension Savings Fund
JS Investments Limited
|
Voluntary Pension Scheme (VPS) | JS Investments Limited | VPS-Debt |
JS Pension Savings Fund
JS Investments Limited
|
Voluntary Pension Scheme (VPS) | JS Investments Limited | VPS-Money Market |
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Lucky Islamic Pension Fund
Lucky Investments Limited
102.34 NAV 105.88 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Lucky Investments Limited | VPS-Shariah Compliant Money Market |
Lucky Islamic Pension Fund
Lucky Investments Limited
102.37 NAV 105.90 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Lucky Investments Limited | VPS-Shariah Compliant Debt |
Lucky Islamic Pension Fund
Lucky Investments Limited
112.66 NAV 116.55 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Lucky Investments Limited | VPS-Shariah Compliant Equity |
Lucky Islamic Pension Fund
Lucky Investments Limited
117.94 NAV 122.01 Offer Price VPS-Shariah Compliant Commodities / Gold Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Lucky Investments Limited | VPS-Shariah Compliant Commodities / Gold |
Mahaana IGI Islamic Retirement Fund
IGI Life Insurance Limited
|
Voluntary Pension Scheme (VPS) | IGI Life Insurance Limited | VPS-Shariah Compliant Equity |
Mahaana IGI Islamic Retirement Fund
IGI Life Insurance Limited
10.71 NAV 10.71 Offer Price VPS-Shariah Compliant Money Market Category
Low
Risk Profile |
Voluntary Pension Scheme (VPS) | IGI Life Insurance Limited | VPS-Shariah Compliant Money Market |
Mahaana IGI Islamic Retirement Fund
IGI Life Insurance Limited
|
Voluntary Pension Scheme (VPS) | IGI Life Insurance Limited | VPS-Shariah Compliant Debt |
Meezan Tahaffuz Pension Fund
Al Meezan Investment Management Limited
1884.63 NAV 0.00 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Al Meezan Investment Management Limited | VPS-Shariah Compliant Equity |
Meezan Tahaffuz Pension Fund
Al Meezan Investment Management Limited
506.72 NAV 0.00 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Al Meezan Investment Management Limited | VPS-Shariah Compliant Money Market |
Meezan Tahaffuz Pension Fund
Al Meezan Investment Management Limited
509.20 NAV 0.00 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Al Meezan Investment Management Limited | VPS-Shariah Compliant Debt |
Meezan Tahaffuz Pension Fund
Al Meezan Investment Management Limited
610.51 NAV 0.00 Offer Price VPS-Shariah Compliant Commodities / Gold Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Al Meezan Investment Management Limited | VPS-Shariah Compliant Commodities / Gold |
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NAFA Islamic Pension Fund
NBP Fund Management Limited
288.44 NAV 288.44 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | NBP Fund Management Limited | VPS-Shariah Compliant Debt |
NAFA Islamic Pension Fund
NBP Fund Management Limited
1323.05 NAV 1323.05 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | NBP Fund Management Limited | VPS-Shariah Compliant Equity |
NAFA Islamic Pension Fund
NBP Fund Management Limited
294.21 NAV 294.21 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | NBP Fund Management Limited | VPS-Shariah Compliant Money Market |
NAFA Pension Fund
NBP Fund Management Limited
|
Voluntary Pension Scheme (VPS) | NBP Fund Management Limited | VPS-Equity |
NAFA Pension Fund
NBP Fund Management Limited
|
Voluntary Pension Scheme (VPS) | NBP Fund Management Limited | VPS-Debt |
NAFA Pension Fund
NBP Fund Management Limited
|
Voluntary Pension Scheme (VPS) | NBP Fund Management Limited | VPS-Money Market |
NIT Islamic Pension Fund
National Investment Trust Limited
25.26 NAV 25.26 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | National Investment Trust Limited | VPS-Shariah Compliant Debt |
NIT Islamic Pension Fund
National Investment Trust Limited
25.06 NAV 25.06 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | National Investment Trust Limited | VPS-Shariah Compliant Money Market |
NIT Islamic Pension Fund
National Investment Trust Limited
34.32 NAV 34.32 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | National Investment Trust Limited | VPS-Shariah Compliant Equity |
NIT Pension Fund
National Investment Trust Limited
|
Voluntary Pension Scheme (VPS) | National Investment Trust Limited | VPS-Debt |
NIT Pension Fund
National Investment Trust Limited
|
Voluntary Pension Scheme (VPS) | National Investment Trust Limited | VPS-Commodities / Gold |
NIT Pension Fund
National Investment Trust Limited
|
Voluntary Pension Scheme (VPS) | National Investment Trust Limited | VPS-Equity |
NIT Pension Fund
National Investment Trust Limited
|
Voluntary Pension Scheme (VPS) | National Investment Trust Limited | VPS-Money Market |
Pak Qatar Islamic Pension Fund
Pak-Qatar Family Takaful Limited
160.45 NAV 165.98 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Pak-Qatar Family Takaful Limited | VPS-Shariah Compliant Money Market |
Pak Qatar Islamic Pension Fund
Pak-Qatar Family Takaful Limited
326.81 NAV 338.08 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Pak-Qatar Family Takaful Limited | VPS-Shariah Compliant Equity |
Pak Qatar Islamic Pension Fund
Pak-Qatar Family Takaful Limited
163.29 NAV 168.93 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Profile |
Voluntary Pension Scheme (VPS) | Pak-Qatar Family Takaful Limited | VPS-Shariah Compliant Debt |
Pakistan Pension Fund
MCB Investment Management Limited
|
Voluntary Pension Scheme (VPS) | MCB Investment Management Limited | VPS-Equity |
Pakistan Pension Fund
MCB Investment Management Limited
|
Voluntary Pension Scheme (VPS) | MCB Investment Management Limited | VPS-Money Market |
Pakistan Pension Fund
MCB Investment Management Limited
|
Voluntary Pension Scheme (VPS) | MCB Investment Management Limited | VPS-Debt |
UBL Retirement Saving Fund
UBL Fund Managers Limited
|
Voluntary Pension Scheme (VPS) | UBL Fund Managers Limited | VPS-Equity |
UBL Retirement Saving Fund
UBL Fund Managers Limited
|
Voluntary Pension Scheme (VPS) | UBL Fund Managers Limited | VPS-Money Market |
UBL Retirement Saving Fund
UBL Fund Managers Limited
|
Voluntary Pension Scheme (VPS) | UBL Fund Managers Limited | VPS-Debt |
UBL Retirement Saving Fund
UBL Fund Managers Limited
|
Voluntary Pension Scheme (VPS) | UBL Fund Managers Limited | VPS-Commodities / Gold |