SECP releases five-year comparative performance of private pension funds

ISLAMABAD, February 2: The total net assets of the voluntary pension fund industry are currently over Rs23 billion contributed by more than 19,000 participants. The fund managers, depending on the asset class, charge the pension funds fees ranging from 0.5% to 1.5% per annum. Further, the fund managers can charge sales load up to 3% of the contribution. However, the SECP has issued a directive restraining pension fund managers from charge sales load up to 1.5% of the contribution if an investor carries out transaction online or through website. Investors preferred Sharia-compliant pension products over conventional products. Out of Rs23 billion assets of pension funds, over 15 billion rupees are invested in Sharia-compliant pension funds.