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.
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
216.12 NAV 223.64 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | ABL Asset Management Company Limited | VPS-Shariah Compliant Debt |
![]() ABL Islamic Pension Fund
ABL Asset Management Company Limited
612.50 NAV 633.81 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | ABL Asset Management Company Limited | VPS-Shariah Compliant Equity |
![]() ABL Islamic Pension Fund
ABL Asset Management Company Limited
218.44 NAV 226.04 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Rating |
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
354.88 NAV 354.88 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | UBL Fund Managers Limited | VPS-Shariah Compliant Debt |
![]() Al Ameen Islamic Retirement Savings Fund
UBL Fund Managers Limited
2922.94 NAV 2922.94 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | UBL Fund Managers Limited | VPS-Shariah Compliant Equity |
![]() Al Ameen Islamic Retirement Savings Fund
UBL Fund Managers Limited
344.53 NAV 344.53 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | UBL Fund Managers Limited | VPS-Shariah Compliant Money Market |
![]() AL Habib Islamic Pension Fund
AL Habib Asset Management Limited
157.81 NAV 162.55 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | AL Habib Asset Management Limited | VPS-Shariah Compliant Money Market |
![]() AL Habib Islamic Pension Fund
AL Habib Asset Management Limited
490.33 NAV 505.04 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | AL Habib Asset Management Limited | VPS-Shariah Compliant Equity |
![]() AL Habib Islamic Pension Fund
AL Habib Asset Management Limited
160.43 NAV 165.25 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Rating |
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 |
![]() Alfalah GHP Islamic Pension Fund
Alfalah Asset Management Limited
204.89 NAV 211.95 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | Alfalah Asset Management Limited | VPS-Shariah Compliant Debt |
![]() Alfalah GHP Islamic Pension Fund
Alfalah Asset Management Limited
209.62 NAV 216.85 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | Alfalah Asset Management Limited | VPS-Shariah Compliant Money Market |
![]() Alfalah GHP Islamic Pension Fund
Alfalah Asset Management Limited
327.47 NAV 338.77 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Rating |
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
2113.34 NAV 2113.34 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | MCB Investment Management Limited | VPS-Shariah Compliant Equity |
![]() Alhamra Islamic Pension Fund
MCB Investment Management Limited
444.65 NAV 444.65 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | MCB Investment Management Limited | VPS-Shariah Compliant Debt |
![]() Alhamra Islamic Pension Fund
MCB Investment Management Limited
404.15 NAV 404.15 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Rating |
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
478.14 NAV 478.14 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | Atlas Asset Management Limited | VPS-Shariah Compliant Money Market |
![]() Atlas Pension Islamic Fund
Atlas Asset Management Limited
451.99 NAV 451.99 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | Atlas Asset Management Limited | VPS-Shariah Compliant Debt |
![]() Atlas Pension Islamic Fund
Atlas Asset Management Limited
2733.19 NAV 2733.19 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | Atlas Asset Management Limited | VPS-Shariah Compliant Equity |
![]() AWT Islamic Pension Fund
AWT Investments Limited
104.81 NAV 104.81 Offer Price VPS-Shariah Compliant Money Market Category
Low
Risk Rating |
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
105.56 NAV 105.56 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | AWT Investments Limited | VPS-Shariah Compliant Debt |
![]() Faysal Islamic Pension Fund
Faysal Asset Management Limited
172.66 NAV 178.62 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | Faysal Asset Management Limited | VPS-Shariah Compliant Debt |
![]() Faysal Islamic Pension Fund
Faysal Asset Management Limited
357.18 NAV 369.50 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | Faysal Asset Management Limited | VPS-Shariah Compliant Equity |
![]() Faysal Islamic Pension Fund
Faysal Asset Management Limited
176.55 NAV 182.64 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | Faysal Asset Management Limited | VPS-Shariah Compliant Money Market |
![]() HBL Islamic Pension Fund
HBL Asset Management Limited
1152.14 NAV 1152.14 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | HBL Asset Management Limited | VPS-Shariah Compliant Equity |
![]() HBL Islamic Pension Fund
HBL Asset Management Limited
320.70 NAV 320.70 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | HBL Asset Management Limited | VPS-Shariah Compliant Debt |
![]() HBL Islamic Pension Fund
HBL Asset Management Limited
303.10 NAV 303.10 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Rating |
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
397.39 NAV 397.39 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | JS Investments Limited | VPS-Shariah Compliant Money Market |
![]() JS Islamic Pension Savings Fund
JS Investments Limited
2059.35 NAV 2059.35 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | JS Investments Limited | VPS-Shariah Compliant Equity |
![]() JS Islamic Pension Savings Fund
JS Investments Limited
425.34 NAV 425.34 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Rating |
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 |
![]() 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
10.00 NAV 10.00 Offer Price VPS-Shariah Compliant Money Market Category
Low
Risk Rating |
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
1858.98 NAV 0.00 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | Al Meezan Investment Management Limited | VPS-Shariah Compliant Equity |
![]() Meezan Tahaffuz Pension Fund
Al Meezan Investment Management Limited
490.31 NAV 0.00 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | Al Meezan Investment Management Limited | VPS-Shariah Compliant Money Market |
![]() Meezan Tahaffuz Pension Fund
Al Meezan Investment Management Limited
493.00 NAV 0.00 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | Al Meezan Investment Management Limited | VPS-Shariah Compliant Debt |
![]() Meezan Tahaffuz Pension Fund
Al Meezan Investment Management Limited
471.07 NAV 0.00 Offer Price VPS-Shariah Compliant Commodities / Gold Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | Al Meezan Investment Management Limited | VPS-Shariah Compliant Commodities / Gold |
![]() NAFA Islamic Pension Fund
NBP Fund Management Limited
279.91 NAV 279.91 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | NBP Fund Management Limited | VPS-Shariah Compliant Debt |
![]() NAFA Islamic Pension Fund
NBP Fund Management Limited
1219.14 NAV 1219.14 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | NBP Fund Management Limited | VPS-Shariah Compliant Equity |
![]() NAFA Islamic Pension Fund
NBP Fund Management Limited
285.11 NAV 285.11 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Rating |
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
24.38 NAV 24.38 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | National Investment Trust Limited | VPS-Shariah Compliant Debt |
![]() NIT Islamic Pension Fund
National Investment Trust Limited
24.15 NAV 24.15 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | National Investment Trust Limited | VPS-Shariah Compliant Money Market |
![]() NIT Islamic Pension Fund
National Investment Trust Limited
32.48 NAV 32.48 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Rating |
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
155.00 NAV 160.34 Offer Price VPS-Shariah Compliant Money Market Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | Pak-Qatar Family Takaful Limited | VPS-Shariah Compliant Money Market |
![]() Pak Qatar Islamic Pension Fund
Pak-Qatar Family Takaful Limited
313.86 NAV 324.69 Offer Price VPS-Shariah Compliant Equity Category
Low to High
Risk Rating |
Voluntary Pension Scheme (VPS) | Pak-Qatar Family Takaful Limited | VPS-Shariah Compliant Equity |
![]() Pak Qatar Islamic Pension Fund
Pak-Qatar Family Takaful Limited
158.27 NAV 163.73 Offer Price VPS-Shariah Compliant Debt Category
Low to High
Risk Rating |
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 |