Pension Funds

NAFA Pension Fund
Offering Document Monthly Report Forms Financial Statement
Fund Name NAFA Pension Fund (NPF)
Management Company: NBP Fullerton Asset Management Limited
Rating of AMC: AM1 by PACRA (Very High Quality)
Fund Type: Open End Voluntary Pension Scheme (VPS)
Fund Objective To provide a secure source of savings and regular income after retirement to the Participants
Trustee Central Depository Company of Pakistan Ltd. (CDC)
Auditors KPMG Taseer Hadi & Co. - Chartered Accountants
Underlying Funds Equity Sub-fund, Debt Sub-fund and Money Market Sub-fund
Eligibility
  • Pakistani having valid Computerized National Identity Card (CNIC) or National Tax Number (NTN)
  • Non-Resident Pakistani having valid National Identity Card for Overseas Pakistani (NICOP)
  • Employer on behalf of their employees
Minimum Contribution Rs.1,000/- (Rs.10,000/- at the time of account opening)
Contribution Frequency Annual, semi-Annual, quarterly or monthly or as desired by the participant.
Contribution Mechanism Cheque, bank draft, pay order (crossed account payee only), titled “CDC-Trustee NAFA Pension Fund” payable to the Trustee on any Dealing Day.
Retirement Age Participants can choose retirement age between 60 to 70 years or 25 years from the date of first contribution in VPS whichever is earlier.
Free Accidental Insurance Coverage Free Accidental death and disability coverage up to Rs.1 million Subject to having minimum balance of Rs.100,000/-
Allocation of Contributions
& Allocation Schemes

The participant have option to choose from following allocation schemes;

Allocation Scheme Equity Sub- Fund Debt Sub- Fund Money Market Sub- Fund
High Volatility Min 65% Min 20% Nil
Medium Volatility Min 35% Min 40% Min 10%
Low Volatility Min 10% Min 60% Min 15%
Lower Volatility Nil Min 40% Min 40%
Life Cycle Allocation Starting with a higher equity investment allocation for an individual aged 18 years, the equity allocation is gradually reduced and transferred to Debt and Money Market Funds as an individual reaches the age of 60 years.
Customized Allocation 0% - 100%
Front-end Fee Upto 3% on Contributions
Management Fee

On average Annual Net Assets of each Sub-Fund.

Equity, Debt, Money Market 1.50% p.a.

Tax Credit Tax Credit will be available to Participants on contributions up to 20% of taxable income, however, the benefit for age 41 and above increases 2% with each year of age with a cap of 30% of taxable income of previous year as per current Income Tax laws.
Benefits / Withdrawal on Retirement
  • Option to withdraw Lump Sum amount free of tax, up to 50% of his/her accumulated balance
  • Option to withdraw remaining 50% balance to purchase an approved Annuity Plan from Life Insurance Company or purchase approved Income Payment Plan offered by Pension Fund Manager, to withdraw regular monthly installments for up to 15 years following the date of retirement.
Early Retirement due to disability In case of unfortunate early retirement due to disability, participant can avail same benefits which are available on the date of retirement.
Early Withdrawal / Withdrawal before Retirement Participants at any time before retirement are entitled to redeem the whole or any part of the Units held to their credit in their Individual Pension Account subject to deduction of withholding tax as per Tax Laws.
Transfers to and from Other Pension Funds Participant is entitled to transfer part or entire Pension Account from one Pension Fund to another once in a Financial year with 21 days prior notice without any tax implication or extra charges.
Transparency Daily calculation and announcement of NAV of each Sub –fund
Benefits
  • Attractive Tax Benefits (Save up to 50% of the taxable income of preceding year)- subject to Tax Laws.
  • Enjoy your retirement life free from financial worries.
  • Individualized asset allocation and disciplined savings.
Price Mechanism Forward pricing on date of realization of funds

Disclaimer: All investments in Pension Funds are subject to market risks. Past performance is not necessarily indicative of future results Please read the Offering Documents and Trust Deeds of the Fund to understand the investment policies and risk involved.

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NAFA Islamic Pension Fund
Offering Document Monthly Report Forms Financial Statement
Fund Name NAFA Islamic Pension Fund (NIPF)
Management Company: NBP Fullerton Asset Management Limited
Rating of AMC: AM1 by PACRA (Very High Quality)
Fund Type: Open End Shahriah Compliant Voluntary Pension Scheme (VPS)
Fund Objective To provide a secure source of savings and regular income after retirement to the Participants in a Shariah Compliant manner.
Trustee Central Depository Company of Pakistan Ltd. (CDC)
Auditors KPMG Taseer Hadi & Co. - Chartered Accountants
Underlying Funds Equity Sub-fund, Debt Sub-fund and Money Market Sub-fund
Eligibility
  • Pakistani having valid Computerized National Identity Card (CNIC) or National Tax Number (NTN)
  • Non-Resident Pakistani having valid National Identity Card for Overseas Pakistani (NICOP)
  • Employer on behalf of their employees
Minimum Contribution Rs.1,000/- (Rs.10,000/- at the time of account opening)
Contribution Frequency Annual, semi-Annual, quarterly or monthly or as desired by the participant.
Contribution Mechanism Cheque, bank draft, pay order (crossed account payee only), titled “CDC-Trustee NAFA Islamic Pension Fund” payable to the Trustee on any Dealing Day.
Retirement Age Participants can choose retirement age between 60 to 70 years or 25 years from the date of first contribution in VPS whichever is earlier.
Shariah Supervisory Board Dr.Imran Ashraf Usmani
Mufti Ehsan Waquar
Mufti Muhammad Naveed Alam
Allocation of Contributions
& Allocation Schemes

The participant have option to choose from following allocation schemes;

Allocation Scheme Equity Sub- Fund Debt Sub- Fund Money Market Sub- Fund
High Volatility Min 65% Min 20% Nil
Medium Volatility Min 35% Min 40% Min 10%
Low Volatility Min 10% Min 60% Min 15%
Lower Volatility Nil Min 40% Min 40%
Life Cycle Allocation Starting with a higher equity investment allocation for an individual aged 18 years, the equity allocation is gradually reduced and transferred to Debt and Money Market Funds as an individual reaches the age of 60 years.
Customized Allocation 0% - 100%
Front-end Fee* Front end load upto 3% on Contribution
Management Fee* Debt Sub-fund 1.50% of annual net assets
Money Market Sub-fund 1.50 % of annual net assets
Equity Sub-fund 1.50% of annual net assets
Tax Credit Tax Credit will be available to Participants on contributions up to 20% of taxable income, however, the benefit for age 41 and above increases 2% with each year of age with a cap of 30% of previous year taxable income as per current Income Tax laws.
Benefits / Withdrawal on Retirement
  • Option to withdraw Lump Sum amount free of tax, up to 50% of his/her accumulated balance
  • Option to withdraw remaining 50% balance to purchase an approved Annuity Plan from Life Insurance Company or purchase approved Income Payment Plan offered by Pension Fund Manager, to withdraw regular monthly installments for up to 15 years following the date of retirement.
Early Retirement due to disability In case of unfortunate early retirement due to disability, participant can avail same benefits which are available on the date of retirement.
Early Withdrawal / Withdrawal before Retirement Participants at any time before retirement are entitled to redeem the whole or any part of the Units held to their credit in their Individual Pension Account subject to deduction of withholding tax as per Tax Laws.
Transfers to and from Other Pension Funds Participant is entitled to transfer part or entire Pension Account from one Pension Fund to another once in a Financial year with 21 days prior notice without any tax implication or extra charges.
Transparency Daily calculation and announcement of NAV of each Sub –fund
Price Mechanism Forward pricing on date of realization of funds
Benefits
  • Attractive Tax Benefits (Save up to 30% of the taxable income of preceding year)- subject to Tax Laws.
  • Shariah Compliant Schemes available.
  • Enjoy your retirement life free from financial worries.
  • Individualized asset allocation and disciplined savings.

* Taxes Apply

Disclaimer: All investments in Pension Funds are subject to market risks. Please read the Offering Documents and Trust Deeds of the Fund to understand the investment policies and risk involved. Past performance is not necessarily indicative of future results.

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News

NBP Fullerton Asset Management Ltd (NAFA), announces cash dividend (As of June 21, 2017)

NBP Fullerton Asset Management Ltd (NAFA), is pleased to announce final cash dividend on NAFA Government Securities Liquid Fund, NAFA Income Opportunity Fund, NAFA Government Securities Savings Fund, NAFA Riba Free Savings Fund, NAFA Islamic Energy Fund, NAFA Islamic Asset Allocation Fund, NAFA Asset Allocation Fund, NAFA Islamic Principal Protected Fund-I, NAFA Islamic Principal Protected Fund-II, NAFA Islamic Principal Preservation Fund, NAFA Islamic Active Allocation Fund-I, NAFA Islamic Active Allocation Fund-II. for the Financial Year 2016-2017.

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NBP Fullerton Asset Management Ltd (NAFA), announces cash dividend (As of June 19, 2017)

NBP Fullerton Asset Management Ltd (NAFA), is pleased to announce final cash dividend on NAFA Money Market Fund, NAFA Financial Sector Income Fund, NAFA Income Fund, NAFA Savings Plus Fund, NAFA Islamic Income Fund (Formerly; NAFA Islamic Aggressive Income Fund), NAFA Multi Asset Fund, NAFA Islamic Stock Fund, NAFA Stock Fund, NAFA Active Allocation Riba Free Savings Fund and NAFA Islamic Active Allocation Equity Fund for the Financial Year 2016-2017.

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Dividend Distribution 2016-17

NAFA Funds will distribute dividend for the financial year 2016-17 on two different dates. Half of the Funds will distribute their incomes on Monday June 19, 2017 and remaining half on Wednesday June 21, 2016 respectively. The fund wise distribution will be as follows: Distribution on Monday 19-Jun-2017: NAFA Money Market Fund, NAFA Financial Sector Income Fund, NAFA Income Fund, NAFA Savings Plus Fund, NAFA Islamic Income Fund (Formerly; NAFA Islamic Aggressive Income Fund), NAFA Multi Asset Fund, NAFA Islamic Stock Fund, NAFA Stock Fund, NAFA Active Allocation Riba Free Savings Fund, NAFA Islamic Active Allocation Equity Fund. Distribution on Wednesday 21-Jun-2017: NAFA Government Securities Liquid Fund, NAFA Income Opportunity Fund, NAFA Government Securities Savings Fund, NAFA Riba Free Savings Fund, NAFA Islamic Energy Fund, NAFA Islamic Asset Allocation Fund, NAFA Asset Allocation Fund, NAFA Islamic Principal Protected Fund-I, NAFA Islamic Principal Protected Fund-II, NAFA Islamic Principal Preservation Fund, NAFA Islamic Active Allocation Fund-I, NAFA Islamic Active Allocation Fund-II.

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NAFA FUNDS Dealing time for the month of RAMADAN

Our dealing times for Money Market/Income Funds for the month of Ramadan will be: Monday to Thursday, 08:30 am to 02:30 pm; Friday, 08:30 am to 12:30 pm & Saturday, 09:00 am to 1:00 pm & for Equity Related Funds will be: Monday to Thursday, 08:30 am to 02:00 pm; Friday, 08:30 am to 12:00 pm & Saturday closed.

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Reduction in Management fee of NAFA Income Opportunity Fund (NIOF)

This to inform you that with effect from May 02, 2017, the Management of NAFA has decided to reduce the management fee of NAFA Income Opportunity Fund from 1.30% p.a. to 1.00% p.a. of average annual net assets.

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NBP Fullerton Asset Management Ltd (NAFA), Revised Transaction Timings.

Please note that revised transaction timings for equity related funds w.e.f 15/4/17 are as follows; Mon-Thu: 9am to 4:30pm Fri: 9am to 5pm

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NBP Fullerton Asset Management Ltd (NAFA), Announces bonus distribution for NIPPF-I, NIPPF-II & NIPPF.

NBP Fullerton Asset Management Ltd (NAFA) is pleased to announce bonus distribution for NIPPF-I, NIPPF-II & NIPPF (Financial Year 2016-2017).

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Notice of change of Name & Category of Fund - NAFA Islamic Aggressive Income Fund

We would like to inform you that the Management of NBP Fullerton Asset Management Limited (NAFA), with the approval of Securities and Exchange Commission of Pakistan (SECP), has changed the category of NAFA Islamic Aggressive Income Fund from Shariah Compliant Aggressive Income Fund to Shariah Compliant Income Fund. Accordingly the name of NAFA Islamic Aggressive Income Fund will be NAFA Islamic Income Fund w.e.f. March 14, 2017. For further information, please call our toll free helpline # 0800-20002 Kindly also note that all cheques for investment in NAFA Islamic Aggressive Income Fund from March 14, 2017 onwards shall be made in the name of CDC Trustee NAFA Islamic Income Fund.

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