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Finance Minister Backs Proposal to Raise Retirement Age Amid Pension Concerns
June 15, 2025
The Securities and Exchange Commission of Pakistan (SECP) has opened the floor for public consultation on proposed amendments to the Voluntary Pension System (VPS) Rules, 2005. This initiative is part of the Commission’s broader objective to enhance the effectiveness of the pension framework in Pakistan by promoting long-term retirement savings, improving regulatory transparency, and reinforcing investor protection.
The proposed changes are aimed at modernizing the VPS regime in line with evolving financial markets and global best practices. Among the key revisions are the introduction of lifecycle investment strategies tailored to investors’ age and risk profile, simplified and digitized account opening processes to expand accessibility, and enhanced disclosure standards to ensure that investors have clearer, more reliable information for decision-making. These measures are intended to make the system more intuitive, responsive, and user-centric.
SECP is encouraging stakeholders including individual investors, pension fund managers, and financial institutions to submit their views and suggestions. This participatory approach underscores SECP’s commitment to regulatory inclusivity and responsiveness. Public comments on the draft amendments will be accepted until July 13, 2025, after which the feedback will be reviewed for possible incorporation into the final version of the updated rules. This marks a progressive step toward strengthening Pakistan’s pension system and building greater public trust in long-term financial planning instruments.
