I am over 40 now, what options I should explore to get a private pension upon retirement in Pakistan?



A very large number of people work in private sector these days. Not all private sector companies in Pakistan provide a pension facility. In such a scenario, you can always consider opting for a private pension scheme that can help you to achieve your future goals.

We are constantly told that we should plan for our future and a pension is one of those things that you should consider. If you are 40, then you need to consider a private pension to ensure that you are financially stable when the time comes for you to retire.

A private pension from the likes of UBL Fund or Al Meezan will come with a number of benefits that makes it a very appealing and worthwhile investment. A number of life insurance companies also provide lifelong investment schemes such as offered by EFU Life, Jubilee Life, IGI Life, State Life, UBL Pension Fund and TPLLife etc. It is possible to start a private pension fund with as little as Rs. 5000 but you would then benefit from certain tax benefits and upon retiring you would be able to make tax free withdrawals up to a specific amount.

Thinking ahead to the future is a wise move and because you can pay into your pension fund in installments or in lump sums, it makes it possible for you to really plan for your future.