SECP proposes amendments to voluntary pension system rules

ISLAMABAD, August 29: The Securities and Exchange Commission of Pakistan (SECP) has notified draft amendments to the Voluntary Pension System Rules, 2005, to obtain public opinion.

The amendments are aimed at requiring pension fund managers to remind participants about the approaching retirement age and inform them about the options available to them on retirement from the pension system. Under the VPS rules, a person has the option to retire between the age of 60 and 70 or after making 25 years of contribution to a pension fund.