Al-Ameen Islamic Punjab Pension Fund

Govt. of Punjab had amended the Punjab Civil Servants Act, 1974 (through Punjab Civil Servants Ordinance, 2023 (1 of 2024) and introduced Punjab Defined Contributory Pension Scheme Rules, 2025 and the Pension structure has been changed for all new Punjab Govt. employees after the notification.

Contact our team for more details about our pension plans.

Punjab Contributory Pension Fund Scheme is ideal for GoP employees who want:

• To save towards retirement low initial and subsequent contributions to be made through GoP.
• Govt. of  Punjab as well as employees will both contribute a lump sum amount snf/or invest monthly.
• To invest in different asset classes to have a diversified portfolio*
• To transfer the balance from Conventional to Shariah compliant scheme or from Shariah compliant to Conventional with the same Pension/Asset Management Company or transfer any other Pension/Asset Management Company free of cost, any time under the VPS rules, 2005.
• To select Pension/Asset Funds Management Company of his/her choice and investment mode (Conventional or Shariah complaint.

* During first three years, 100% allocation will be made in Money Market Sub-Funds only. After 3 years completion, employees may choose customized allocation as per limits allowed or default allocation will be applied.

Note: Any early withdrawal OR withdrawal in excess of 50% of the accumulated pension account balance at retirement OR after retirement will attract withholding tax under the Income Tax Ordinance, 2001 (U/s 23A of Part I of The Second Schedule).
Income from Income Payment Plans or Annuity Plans is also subject to income tax in the hands of the Participant as per the Income Tax Ordinance, 2001, effective 1st July, 2022, following the withdrawal of exemption through the Finance Act, 2022.