JS / Personal / Wealth Management / Bancassurance / Retirement Plan

Retirement Plan

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Every contribution paid towards the plan is invested in an internal investment fund of EFU Life based on your selection. The contributions are utilized to buy units of the fund at the prevailing offer price. The objective of the funds is to maximize capital growth by investing in a balanced portfolio spread across a wide range of investment opportunities. The fund is managed by investment experts who adjust the mix of the underlying investments in light of economic conditions and investment opportunities.

The longer the terms of the plan, the higher the rewards.2

Deposit any surplus funds as a lump sum contribution as Fund Acceleration Premium (FAP). The minimum FAP is PKR 24.000 per payment. However, the maximum FAP Contribution in a year is 5 times the current year's annual regular contribution. On maturity of the plan, total cash value of units applicable to basic premiums and FAP payments is paid.

In case of demise of the plan holder, the amount payable is equal to:

  • The greater of Sum Assured or Cash Value of units allocated against basic premium.
  • The Cash Value of units allocated against FAP plus payments.

Pick whichever fund you want based on your needs and risk tolerance from the following three:

  • EFU Managed Growth Fund
  • EFU Guaranteed Growth Fund

In case of accidental death of plan holder, the amount of payout is up to 10 times the basic annual premium with a maximum payout limited to Rs. 5 million.

The maturity value of the plan can be used to buy pension from the company at rates prevalent at that time. Pension options available to the client are as follows:

  • Life pension payable as long as the policyholder is alive; or
  • Guaranteed for 10 years and life thereafter; or
  • Joint Life pension payable to the customer and on his/her death 50% continues to be paid to the spouse
  • Opt for a 25% lump sum benefit and purchase the pension from the remaining 75% of the maturity or surrender value.

Surrender the Cash Value of units before the pre-determined plan maturity and purchase a pension option free of charge. This option is available after age 50 years provided the policy has remained in force for at least 5 complete years.

Increase your premium every year by 5% of the previous year's contribution with appropriate increase in benefits.

The policy can be customised to better suit your needs with the following additions/benefits:

  • Waiver of Premium.
  • Family Income Benefit.
  • Additional Term Assurance.

1. Unit Allocation:
Premiums are allocated to the investment fund based on the following unit allocation percentages

Year 1 40%
Year 2 80%
Year 3 90%
Year 4 to 10 100%
Year 11 onwards 100% plus loyalty bonus

2. The loyalty bonus unit allocation, in addition to the basic plan contribution is as follows:

Year 11 30%
Year 16 45%
Year 21 60%
Year 26 75%
Year 31 90% and so on

FAQs for Retirement Plan

What is Retirement Plan?

Retirement Plan is a long-term investment plan that allows you to build your savings for a better tomorrow, with the comfort of an insurance plan that protects you and your loved ones. The plan offers the promise of financial stability when you retire, so that you never have to give up the best things in life. Retirement Plan is underwritten by EFU Life Assurance Ltd.

How can I be eligible for Retirement Plan?

The retirement plan is available to anyone between the ages of 18 to 60 years. The minimum term of the plan is 10 years whereas the maximum term is 45 years. The savings term has to be selected in such a way that the age of the customer at the end of the savings term is between 60 and 70 years.

Sum Assured:

This is the guaranteed amount payable on death. The Sum Assured may be selected from the range depending on the age at entry. The sum assured is determined as Annual Regular Basic Plan Premium times the Protection Multiple selected by the client. The Protection Multiple is subject to limits dependent upon the age at commencement.

Maturity Benefit:

On maturity of the plan, total Cash Value of units applicable to basic premiums and FAP payments is paid. This amount can be utilized to purchase one of the pension options.


  • This product is underwritten by EFU Life Assurance Ltd. It is not guaranteed or insured by JS Bank Limited or its affiliates and is not a JS Bank Limited product.
  • All investments made in EFU Managed Growth Fund are subject to market risks. The past performance of EFU Managed Growth Fund is not necessarily a guide to future performance. Any forecast made is not necessarily indicative of future or likely performance of the fund and neither EFU Life Assurance Ltd. Nor JS Bank Limited will incur any liability for the same.
  • A personalized illustration of benefits will be provided to you by our sales representative. Please refer to the notes in our illustration for detailed understanding of various terms and conditions.
  • Service charges and taxes will be applicable as per the bank's "schedule of Charges" and taxation laws as stipulated by the relevant authorities.
  • JS Bank Limited reserves the right to levy such additional charges(s) as may be required, to facilitate the making of contribution in the plan, in the event that the arrangement between JS Bank Limited and EFU Life Assurance Limited is discontinued.