Type / Category of Fund

Open-End Fund / Voluntary Pension Scheme, The Punjab Defined Contribution Pension Scheme

Fund Structure

Unit Trust Scheme consisting of Sub-Funds under the Voluntary Pension System (VPS) Rules, 2005. NIT Islamic Punjab Pension Fund – Equity Sub Fund NIT Islamic Punjab Pension Fund – Debt Sub Fund NIT Islamic Punjab Pension Fund – Money Market Sub Fund NIT Islamic Punjab Pension Fund – Equity Index Sub Fund

Eligibility

All civil servants of the Government of the Punjab appointed on January 8, 2024, or regularized as civil servants through any legal instrument issued by the Government of Punjab, as notified from time to time, shall be eligible to contribute to the Pension Fund. Civil Servants (Amendment) Act, 1974 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 anexisting account is Rs. 1,000/- per transaction or such otheramount as may be prescribed by the Employer.

Change of Allocation Scheme

The Employee may change the Allocation Scheme as andwhen required till retirement. Form for the change inAllocation Scheme must be sent by the Employee in writingor in such other form as may be acceptable to the PensionFund 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

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 Islamic Punjab Pension Fund, at the Net Asset Value notified by the Pension Fund Manager at the close of that working day. 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. 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. 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. 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. 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. 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.