Punjab mulls to launch Defined Contribution pension scheme (VPS)

Punjab mulls to launch Defined Contribution pension scheme (VPS)

ISLAMABAD: After Khyber Pakhtunkhwa (KP), the Punjab government is now considering introducing a Voluntary Pension System (VPS) to replace the existing traditional pension setup, to reduce the financial burden on the provincial budget. Briefing the media on Monday, the senior...
KP’s Pension Reforms, transition to Defined Contribution scheme

KP’s Pension Reforms, transition to Defined Contribution scheme

Peshawar    -     The aging population, coupled with changing demographics and economic conditions, has put significant strain on pension systems around the world. According to Bloomberg and G-30, “The US, China and other leading economies confront a massive funding...
Non-resident Pakistanis allowed contribution in pension funds

Non-resident Pakistanis allowed contribution in pension funds

KARACHI: The State Bank of Pakistan (SBP) has allowed non-resident Pakistanis to contribute in pension funds. In a round issued to banks/Authorized Dealers (ADs) on August 05, 2022, the SBP stated in order to enhance the worth proposition of NRP...