NIT Islamic Pension Fund
- Money Market###September 04, 2019###(NIT-IPFMSF)###12.0466
Other factors related to a pension fund
, such as the contribution rate and retirement age, are supplementary to balancing out youth unemployment and future payouts, which in my view are at the core of how a country must establish and manage it pension fund
Islamabad -- The pension funds
were first launched in 2007 under the Voluntary Pension System Rules, 2005, providing an avenue for long-term savings for retirement to the unit holders.
The total net assets of the voluntary pension fund
industry are currently over Rs 26 billion contributed by more than 25,000 participants.
Tax credit of up to 20% of taxable income can be availed upon investment in pension funds
. Moreover, persons over 40 years of age can avail even higher tax benefits.
Over 65 per cent of the assets of the pension fund
industry are invested in Shariah-compliant funds.
The Teesside Pension Fund
is the Local Government Pension Scheme that looks after the finances of pensions belonging to council employees on Teesside.
'I must indicate that the pension funds
governance has direct implications for retirement income, both in terms of its impact on administrative efficiency and on the investment strategies of the pension fund
, since these two factors determine the performance of the pension funds
,' he said.
Professor Trajko Slaveski suggests reducing the amount of money transferred to the private pension funds
. However, Bulent Dervishi, Director of MAPS, the regulatory body of the private pension funds
, is strongly against it.
However, the SECP has issued a directive restraining pension fund
managers from charge sales load up to 1.5 percent of the contribution if an investor carries out transaction online or through website.
KB first open mandatory pension fund
counts 225,616 members, February 2017 included, while NLB mandatory pension fund
counts 222,758 insurers.