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OVERVIEW:

AL Habib Asset Management Limited is honored to collaborate with the Khyber Pakhtunkhwa Government in introducing the CP Fund to Government Employees of Khyber Pakhtunkhwa who have joined from June 7, 2022, onwards.

AL Habib Islamic GoKP Pension Fund is an open-ended Shariah Compliant Pension Fund Scheme, exclusively designed to facilitate government employees in the province of Khyber Pakhtunkhwa to save for retirement in a systematic manner. This dedicated pension solution is committed to providing financial security during post-service years.

INVESTMENT OBJECTIVE:

To provide a secure source of retirement savings and regular income after retirement to the Employee(s).

FOR INVESTORS SEEKING:

  • Savings cum Investment Plan that facilitates employees to save for retirement in a systematic manner.

  • Get Life Insurance Plan coverage upto 2 Million

  • Employees can easily switch between available Pension Fund Managers.

  • Employees can get the opportunity to invest in very low risk funds.

  • Option available to switch from KP Employees Islamic Pension Fund if he/she leave service prior to retirement.

  • Employee can get pension for a period of 20 years.

STRUCTURE:

  • Pension fund are regulated by Securities and Exchange Commission of Pakistan

  • Both conventional and Islamic options available

  • All assets under the safe custody of Trustee

  • Pension Fund consist of Sub-Funds including:

    o Money Market

    o Debt

    o Index Equity

  • Employees will get units of Sub-Funds representing their investments. Each Sub-Fund to announce NAV on daily basis

CONTRIBUTION & TAX BENEFIT:

Eligible Investor

In line with the permission granted by the Commission, all Employees of KPK Government appointed/recruited under the Khyber Pakhtunkhwa Civil Servants (Amendment) Act.2022 or an Employee of the KPK Government, regularized as civil servant through any legal instrument, issued after coming into force of the Khyber Pakhtunkhwa Civil Servants (Amendment) Act, 2022 irrespective of the effective date of regularization shall be eligible to contribute to the Pension Fund.

Contribution

  • Employee will contribute atleast 10% of Pensionable Pay

  • KP Government will contribute 12% of Pensionable Pay

Tax Benefit

  • Tax Saving upto 20% of Annual Tax Liability

RETIREMENT:

  • Retirement age of an employee is 60 years (ref: sub-section (1) of section (13) of the Khyber Pakhtunkhwa civil servants act, 1973

  • Employee can opt early retirement after 25 years of services or at the age of 55 whichever is later

Options at Retirement

  • Receive tax free withdrawal up to 20% of your balance

  • Receive Pension for a period of 20 years from remaining balance

RESIGNATION

In case of resignation, Employee can withdraw with tax deduction or can transfer funds to AL Habib Islamic Pension Fund.

DEATH OR DISABILITY:

In case of death, the proceeds are transferred to the successors.

Retirement will be considered in case of any of the following disabilities:

  • Loss of limbs, hand and a foot, loss of eyesight of deafness or loss of speech;

  • Paraplegia or hemiplegia or lunacy or advance case of incurable disease; OR

  • Wounds, injuries or any diseases resulting in inability to continue any work

  • Severe facial disfigurement

HOW TO ENROLL:

  • STEP 1 Scan QR Code

    • Scan

  • STEP 2 Click To registered

  • STEP 3 Enter Phone number, CNIC and create Password then Click Sign up

  • STEP 4 Enter CNIC and Password

  • STEP 5 Click Update Profile

  • STEP 6 Update Profile

  • STEP 7 Select category Shariah Compliant

  • STEP 8 Select in AMC section AL Habib Asset Management Limited

Fund Details

BASIC FUND DETAILS
Fund Type Category Open-ended Shariah Compliant Pension Scheme
Risk Profile Very Low (Principal at Very Low Risk)
Pricing Mechanism Forward Pricing
Allocation of Units On Realization of funds

Constitutional Documents

Price History

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