Karachi, Pak-Qatar Family Takaful (PQFTL) has introduced the first ever Voluntary Pension Scheme (VPS) by a Takaful operator in Pakistan, offering a new retirement saving option that is compliant with Islamic finance principles.

According to Pak-Qatar Family Takaful, the VPS allows individuals to start contributing with as little as PKR 1,000. The scheme not only aims to assist in building retirement savings but also offers tax reductions up to 20%. It includes complimentary Takaful coverage for natural death up to PKR 10 million or two times the investment balance, whichever is lower, and for accidental death up to PKR 20 million or four times the investment balance, whichever is lower. Participants in the VPS can also enjoy discounted rates on additional coverages such as individual health, motor, and house Takaful.