Fund Type

NIT Khyber Pakhtunkhwa Pension Fund (NIT-KPPF)

Fund Structure

Unit Trust Scheme consisting of Sub-Funds under
the VPS Rules 2005.
NIT KP Pension Fund - Equity Sub Fund
NIT KP Pension Fund - Debt Sub Fund
NIT KP Pension Fund - Money Market Sub Fund
NIT KP Pension Fund - Equity Index Sub Fund

Eligibility

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.

Minimum Contribution

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.

Change of Allocation Scheme

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.

Front-end Fee

No Front End Load shall be deducted from the Contributions
received from the Employee(s).

Taxation

Tax Credit will be available to Employee(s) on contributions
during any Tax Year subject to the limits prescribed under
Income Tax Ordinance 2001.

Allocation of Contribution & Allocation Schemes

1. The contribution received from or in respect of any Employee(s) by the Pension Fund Manager on any working day shall be immediately credited to his/ her Individual Pension Account and the amount in the Individual Pension Account shall be used to purchase the Units of the Sub-Funds of NIT-KP Pension Fund, at the Net Asset Value notified by the Pension Fund Manager at the close of that working day.
2. The allocation of the contributions between the various Sub-Funds at the date of opening of Individual Pension Account shall be allocated 100% to the Money Market Sub-Fund and thereafter, shall be in accordance with the Allocation Policy applicable to the Employee as mentioned in this Offering Document.
3. The amount of the contribution used for the purchase of the Units of any Sub-Fund shall depend on such percentage as determined in the Specified Allocation Scheme selected by the Employee.
4. In the event of no allocation percentages being selected by any Employee(s) the Pension Fund Manager shall allocate the contributions to the default asset allocation Scheme as mentioned in this Offering Document.
5. The Pension Fund Manager shall also offer different Allocation Schemes to Employees to choose from, allowing them to adopt an investment strategy, according to their risk/return requirements.
6. For initial three years from opening of account the contribution of Employees will be invested in Money Market Sub-Fund only and thereafter in accordance with the life cycle-based Allocation Scheme or Default Allocation Scheme, as applicable to the Employee, as mentioned in this Offering Document.
7. The Pension Fund Manager shall make reallocation of the Units between the Sub-Funds at least once a year to ensure that the allocations of Sub-Fund Units of all the Employee(s) are according to the percentages selected by the Employee(s) or where no selection has been made according to the Default Asset Allocation Scheme.