Planning for retirement is a vital step towards ensuring financial security in later years. However, many individuals struggle to develop a comprehensive and reliable retirement plan in Pakistan.
JS Bank offers an ideal solution for overseas Pakistanis through the Roshan Pension Plan, a tailored voluntary pension scheme that helps you effectively build and manage your retirement savings.
Why Choose the Roshan Pension Plan?
JS Bank’s Roshan Pension Plan (RPP) is a self-contributory defined contribution pension scheme. It’s designed to allow individuals, whether employed or self-employed, to save regularly during their working life and secure a steady income post-retirement. With low initial contribution requirements and flexible investment options, the plan offers a unique approach to retirement planning.
Key benefits include:
- No initial cost for contributions.
- Competitive fees up to 1.5%.
- Easy management and transfer of funds.
- Choose between conventional and Islamic funds for diversified growth.
How Does the Roshan Pension Plan Work?
The Roshan Pension Plan operates under the Voluntary Pension Scheme (VPS) Rules, 2005. Contributions made by participants are managed by a Pension Fund Manager authorized by the Securities and Exchange Commission of Pakistan (SECP).
The collected contributions are invested in Sharia-compliant or conventional options to generate returns. Upon reaching the opted retirement age, participants receive a steady monthly income from their accumulated funds.
Key Features:
- Eligibility: Available to all Roshan Digital Account (RDA) holders with NRVA, aged between 18 and 70.
- Initial Investment: Start with as low as PKR 10,000.
- Tenure: Flexible investment terms that accommodate different retirement goals.
Steps to Start Saving for Retirement with JS Bank
- Open a Roshan Digital Account: This is essential for accessing the Roshan Pension Plan. for more information, click here.
- Choose Your Investment Fund: Opt for either the JS Pension Saving Fund or JS Islamic Pension Saving Fund, depending on your preference for conventional or Sharia-compliant investments.
- Set Your Contribution Amount: Start with a minimum of PKR 10,000 and increase contributions as needed to build your retirement savings.
- Monitor Your Investments: Use JS Bank’s mobile app for real-time updates and fund management.
Why the Roshan Pension Plan is the Best Retirement Plan in Pakistan
The Roshan Pension Plan stands out as the best retirement plan in Pakistan due to its flexibility and comprehensive features. It allows contributors to choose between regular or periodic contributions, aligning with individual income flows.
The JS Islamic Pension Saving Fund ensures full Sharia compliance for those seeking ethical investments, making it ideal for Muslims who prioritize halal investment options. The plan’s digital platform provided by JS Bank allows users to manage and adjust contributions from anywhere, ensuring ease of access.
Most importantly, the plan guarantees a steady income after retirement, offering peace of mind and long-term financial security.
Conclusion
Starting a retirement plan in Pakistan is an essential part of long-term financial planning, and JS Bank’s Roshan Pension Plan provides an excellent platform to begin. With features such as zero sales load, flexible contributions, and the option for Sharia-compliant investments, this plan stands out as a reliable and beneficial choice for overseas Pakistanis looking to secure their future.
Open your Roshan Digital Account and plan a financially secure retirement with JS Bank today!