The State Bank of Pakistan (SBP) has launched Roshan Pension Plan (RPP) for overseas Pakistanis to digitally and remotely contribute to the scheme to financially secure their post-retirement life in Pakistan, reported 24NewsHD TV channel.
Through RPP, the overseas can enjoy an exclusive pension plan with zero front-end load and back-end fee and minimal fund management fee of up to 1.5%.
The Roshan Pension Plan is a self-contributory defined contribution pension scheme open to all NRP Rupee Value Account (NRVA) holders 18 - 70 years of age.
Our valued NRPs pursuing a job or being self-employed abroad can avail of this product by contributing as low as PKR 10,000 and start building up their financial asset to enjoy a regular stream of income after retirement. Contributions in RPP shall become part of an investment pool/fund which will provide a regular source of earning during the post-retirement life.
The experts are of the view that it would create another window for the country to attract foreign exchange from nine million Pakistani diaspora worldwide. They termed the move beneficial for the struggling economy and said it would be a valuable new addition to the Roshan Digital Account (RDA) portfolio.
“The pension scheme will have the potential to attract investment worth millions of dollars into different saving plans as well as in development projects of the country”.