Unit Trust Scheme consisting of Sub-Funds under the VPS Rules 2005.
NIT KP Islamic Pension Fund - Equity Sub Fund;
NIT KP Islamic Pension Fund - Debt Sub Fund;
NIT KP Islamic Pension Fund - Money Market Sub Fund
NIT KP Islamic Pension Fund - Equity Index Sub Fund
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.
The minimum amount of Contribution to open an account is Rs. 1,000/- and the minimum amount of contribution to an existing
account is Rs. 1,000/- per transaction or such other amount as may be prescribed by the Employer.
The Pension Fund Manager shall offer Allocation Scheme to the Employees according to their
risk/return and age requirements, through Sub-Funds of the NIT KP Islamic Pension Fund, managed by the Pension Fund Manager.
The risk profile of each Allocation Scheme shall be dependent on the percentage allocation of that Scheme in the various Sub Fund.
Each Allocation Scheme being offered can have exposure to the following sub-Funds:
(a) NIT KP Islamic Pension Fund - Equity Sub Fund;
(b) NIT KP Islamic Pension Fund - Debt Sub Fund;
(c) NIT KP Islamic Pension Fund - Money Market Sub Fund
(d) NIT KP Islamic Pension Fund - Equity Index Sub Fund
The Contributions received from any Employee shall be allocated amongst the Sub-Funds in accordance with the Allocation
Scheme selected by the employee or default allocation scheme as laid in the Second and third schedule respectively
(in terms of proviso of rule 5(d)(ii)) of the Employee KPK Rules. The Employee has the option to select any one from the
Allocation Schemes or products being offered by the Pension Fund Manager at the date of opening of Individual Pension Account.
The Pension Fund Manager is offering the following Allocation Scheme to allocate the Contributions received from the
Employees in the Sub-Funds:
(a) Life Cycle Allocation Scheme:
This Allocation Scheme provides the Employees with an option to allocate their contributions in a pre- planned allocation
strategy as per their age. The younger the Employee, the higher the allocation towards equity market due to his/ her risk-taking
ability with reference to long term horizon.
| Age | EQUITY INDEX SUB-FUND | EQUITY SUB FUND | COMBINED EXPOSURE TO EQUITY | DEBT / MONEY MARKET SUB-FUND |
| For the period of 3 years from date of account opening | 0% | 0% | 0% | 100%(only in Money Market - Sub Fund) |
| Up to 30 years | Max 50% | Max 25% | Max 50% | Min 50% |
| Upto 40 years | Max 40% | Max 20% | Max 40% | Min 60% |
| Upto 50 years | Max 30% | Max 15% | Max 30% | Min 70% |
| Upto 60 years | Max 20% | Max 10% | Max 20% | Min 80% |
The exact exposure to each Sub Fund within the Allocation Scheme would be decided by the Employee at time of account opening
and may be changed at any time at the discretion of Employee subject to age limits prescribed under KPK Rules.
(b) Default Asset Allocation Scheme
If no choice is made by the Employee, then Default Asset Allocation Scheme would be selected as a default scheme, in this scheme,
Pension Fund Manager keeping in view the profile and age of the Employee, shall allocate the Contributions to the default
Asset Allocation Scheme as follows:
| Age | EQUITY INDEX SUB-FUND | EQUITY SUB FUND | DEBT SUB FUND | MONEY MARKET SUB-FUND |
| For the period of 3 years from date of account opening | 0% | 0% | 0% | 100%(only in Money Market - Sub Fund) |
| Up to 30 years | 30% | 10% | 30% | 30% |
| Upto 40 years | 20% | 10% | 30% | 40% |
| Upto 50 years | 15% | 5% | 20% | 60% |
| Upto 60 years | 10% | 0% | 10% | 80% |
The Employee may change the Allocation Scheme as and when required till retirement. Form for the change in
Allocation Scheme must be sent by the Employee in writing or in such other form as may be acceptable to the Pension Fund Manager.
No Front End Load shall be deducted from the Contributions received from the Employee(s).
Tax Credit will be available to Employee(s) on contributions during any Tax Year subject to the limits
prescribed under Income Tax Ordinance 2001.
