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EXPLANATORY NOTE FOR SRO 815(1)/2008 DATED 01-08-2008

To promote and regulate development of Private Pension Schemes and Funds in the country, six Pension Funds under the Voluntary Pension System Rules, 2005 have been authorized by the Security Exchange Commission of Pakistan. In order to create linkages between these Voluntary Pension Funds with the existing occupational savings schemes, the Security Exchange Commission of Pakistan proposed to allow the subscriber of a Recognized Provident Fund to transfer funds to a Voluntary Pension Fund under Voluntary Pension System Rules, 2005. For this purpose amendment in Rules 103, 104, 105 and 106 of the Income Tax Rules, 2002 have been made through this SRO.

Khawar Khurshid Butt
Member FATE / Official Spokesman,
Aug 06, 2008
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