ISLAMABAD:

The Securities and Exchange Commission of Pakistan (SECP) has approved seven pension funds for the government of Balochistan, which reflects the practical implementation of the Defined Contribution pension model in the province.

This initiative is part of the government’s broader strategy to shift from the traditional Defined Benefit pension system to a more sustainable and transparent Defined Contribution framework. Punjab and K-P have already implemented contributory pension schemes, while the federal government and Sindh are in the process of putting in place their pension fund structures.