ISLAMABAD: The Securities and Exchange Commission of Pakistan has approved additional pension funds aimed at advancing pension reform in the provinces of Balochistan and Punjab. The move includes eight new funds for Balochistan and one for Punjab, furthering the transition to a Defined Contribution pension model.

According to Securities and Exchange Commission of Pakistan, these approvals increase Balochistan’s total authorized pension funds to fifteen and Punjab’s to twenty-five. The funds for Balochistan will be managed by JS Investments Limited, Alfalah Asset Management Limited, NBP Fund Management Limited, and UBL Fund Managers Limited. AWT Investments Limited will manage the newly sanctioned fund for Punjab.

This initiative follows SECP’s previous approval of seven pension funds for Balochistan under the Contributory Pension Scheme Rules, 2025. It represents the initial steps towards implementing the Defined Contribution pension framework in the province.

The government’s strategy aims to shift from the traditional Defined Benefit pension system to a more sustainable, transparent, and fiscally prudent Defined Contribution framework. SECP continues to facilitate this nationwide transition, which is anticipated to reduce long-term pension liabilities and enhance fiscal sustainability while promoting transparency and individual ownership of retirement savings through professionally managed pension funds.