The Securities and Exchange Commission of Pakistan (SECP) has approved new pension funds, increasing the total number for Punjab and Balochistan to strengthen government retirement schemes.
The SECP approved eight additional pension funds for Balochistan, raising the total to 15 funds of the province currently operating under the contributory pension system framework.
Punjab received approval for one more pension fund, increasing the total to 25 funds of the province, all designed to provide retirement benefits to government employees.
According to SECP, the contributory pension system has already been implemented in Balochistan, with plans to gradually expand the system across other government institutions.
The regulator noted that pension reforms aim to reduce long-term government pension liabilities while ensuring employees receive retirement benefits through professionally managed funds.
The newly approved pension funds are being administered by private asset management companies, which oversee contributions, investments, and distributions under the regulatory supervision of SECP.
