OPF Pension Scheme for Overseas Pakistanis


#1

Hello Guys

I need your opinion about this pension scheme. Is it worth to consider for investing? Comments/feedback is welcome.

Full detail: www.oppt.org.pk

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How the Pension Scheme works?

OPF Pension Scheme is voluntary and self contributory, and offers Conventional, Islamic and Tailor made Pension Plans. Pension contributions are received on Lump sum or Annual payment basis at the convenience of the members.

TYPE OF THE PLANS MATURE FOR PAYMENT EXPECTED PENSION PAYMENT ON MATURITY (RS) PER ANNUM

CONVENTIONAL PLANS ISLAMIC PLANS

Lump Sum Payment Plan

(One time Lump sum Contribution of Rs.120,000) After 5 years 18,492 (15%)1541/pm 14,400-18,000 (12-15)%

After 10 years 29,784 (25%)2482/pm 24,000-30,000 (20-25)%

After 15 years 47,964 (40%)3997/pm 36,000-48,000 (30-40)%

Annual Payment Plan

(Contribution @ Rs.24,000 per annum till maturity) After 10 years 40,260 (16%)3355/pm 28,800-38,400 (12-16)%

After 15 years 80,268 (22%)6689/pm 64,800-79,200 (18-22)%

Salient Features

• No age restrictions for becoming members.

• Option to purchase more than one unit

• Time based maturity for pension payments

• Pension payments continue for the life and beyond (family and children). On final termination of the plan, the principal amount and the profit (if any) would be returned to rightful owner.

• Immediate payment of pension in case of death or total disability (Not available for Islamic/tailor-made plans)

• Option for withdrawal from the scheme any time before and after maturity

Premature Encashment

Subscriber may terminate his/her pension plan with OPPT any time before or after the maturity. He / she will be refunded the total contribution including profit, after deduction of service charges.