ISLAMABAD: Promoting healthy competition in the pension management field, the Securities and Exchange Commission of Pakistan (SECP) registered M/s IGI Life Insurance Limited as a Pension Fund Manager under the Voluntary Pension System Rules, 2005.

The Pension Funds established under the VPS Rules are professionally managed savings-cum-investment vehicles that enable salaried and self-employed individuals to contribute during their employment period, to accumulate savings available after retirement. The employer can also contribute in the pension funds for their employees.

The SECP believes that being long term products, Pension and Insurance can have natural synergies, and it is encouraging to see life insurance companies entering Pension markets.

Copyright Business Recorder, 2023