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Retirement Crafted Around You

The future you dream of starts with the choices you make today. EFU Hemayah Pension Fund, a Voluntary Pension Scheme (VPS), helps you shape that future by combining tax savings, flexible investment options and the freedom to choose how and when you retire. Whether you’re starting early or planning ahead, this plan makes your journey to retirement simple and secure.

Key Features:

Up to 20% Tax Rebate
Complementary Takaful Life Coverage
Complementary Accidental Death Coverage
Flexible Fund Allocation Options

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Funds Under Management

PKR 231 Billion

AM1(p)

VIS Rating

Lives Insured

10 Million+

Approved by

SECP

Funds Under Management

PKR 231 Billion

AM1(p)

VIS Rating

Lives Insured

10 Million+

Approved by

SECP

How Tax Savings Work

Open an EFU Hemayah Pension Fund account and start contributing monthly, quarterly, or annually.
Contributions qualify for tax credit under Section 63 of the Income Tax Ordinance, 2001.
Tax credit is calculated as the lower of:

The amount contributed, or
20% of your annual taxable income.

The credit is applied at your average tax rate, reducing your payable tax.

At Retirement

Withdraw up to 50% of your accumulated balance, tax-free.

The remaining balance must be used to purchase an Income Payment Plan or Annuity, allowing further tax deferral

Eligibility

Available for both salaried and self-employed individuals.

Investment Options

Contributions shall be allocated among the Units of Sub-Funds at Net Asset Value, as per the selected Allocation Scheme, offered by the EFU Hemayah.

EFU Hemayah Pension Fund will initially consist of three Sub Funds available to choose from the following Schemes:

“EFU Hemayah Pension Fund - Equity Sub Fund” ,
“EFU Hemayah Pension Fund - Debt Sub Fund” and
“EFU Hemayah Pension Fund - Money Market Sub Fund”

Note

The transaction Cutoff times for EFU HPF are 9 am to 3 pm
Transaction requests made prior to Cutoff timings will be processed on the day-end NAV, of the same day
Transaction requests made after the Cutoff Timings will be processed on the next working day’s NAV

Allocation Scheme	Equity Sub Fund	Debt Sub Fund	Money Market Sub Fund
High Volatility	Min 65%	Min20%	Nil
Medium Volatility	Min 35%	Min 40%	Min 10%
Low Volatility	Min 10%	Min 60%	Min 15%
Lower Volatility	Nil	Min 40%	Min 40%
Customized	0-100%	0-100%	0-100%

Hemayah Pension Fund Tax Savings Calculator

Plan Your Future

Secure your future with flexible plans

Guaranteed Returns

Regular payouts based on your contribution and age

Control Your Contributions

Adjust contribution and indexation with easy sliders

Shariah Compliant

Ethical investment following Islamic principles

Current Plan

Pension Fund Calculator (VPS)

Income Type

Investment Amount

PKR

Gross monthly income

PKR

Annual Bonus

Annual Income-

Tax Bracket-

Tax Calculation Results

Tax Liability-

Final Tax Liability-

Effective Tax Rate-

Max Tax Credit Benefit-

Total Tax Rebate-

Net Tax Liability-

Percentage of Tax Credit-

Annual Taxable Income (PKR)	Tax Amount (PKR)	Effective Tax Rate %	Investment of Tax Credit (PKR)	Tax Credit (PKR)
1,200,000	6,000	0.50%	240,000	1,200
2,400,000	162,000	6.75%	480,000	32,400
3,600,000	466,000	12.94%	720,000	93,200
4,800,000	861,000	17.94%	960,000	172,200
6,000,000	1,281,000	21.35%	1,200,000	256,200
7,200,000	1,701,000	23.63%	1,440,000	340,200
8,400,000	2,121,000	25.25%	1,680,000	424,200
9,600,000	2,541,000	26.47%	1,920,000	508,200
10,800,000	2,961,000	27.42%	2,160,000	592,200
12,000,000	3,381,000	28.18%	2,400,000	676,200
13,200,000	3,801,000	28.80%	2,640,000	760,200
14,400,000	4,221,000	29.31%	2,880,000	844,200
15,600,000	4,641,000	29.75%	3,120,000	928,200

Annual Taxable Income (PKR)	Tax Amount (PKR)	Effective Tax Rate %	Investment of Tax Credit (PKR)	Tax Credit (PKR)
1,200,000	90,000	7.50%	240,000	18,000
2,400,000	410,000	17.08%	480,000	82,000
3,600,000	810,000	22.50%	720,000	162,000
6,000,000	1,790,000	29.83%	1,200,000	358,000
12,000,000	4,490,000	37.42%	2,400,000	898,000
24,000,000	9,890,000	41.21%	4,800,000	1,978,000

FAQs

EFU Hemayah Pension Fund is a registered Voluntary Pension Scheme managed by EFU Life Assurance Ltd. It provides a secure, professionally managed retirement savings solution under the supervision of the Securities and Exchange Commission of Pakistan. It is also the only investment vehicle in Pakistan that allows you to save for retirement while enjoying tax benefits.

Contributions made to the EFU Hemayah Pension Fund during any tax year qualify for a tax credit under Section 63 of the Income Tax Ordinance, 2001. Both salaried and self-employed individuals can reduce their tax liability by claiming a credit on the lower of:

The amount of contribution made, or
20% of annual taxable income.
The tax credit is applied at your average tax rate, effectively reducing your payable tax.

Salaried individuals: Submit your account statement (issued by the Pension Fund Manager) to your HR department to adjust your tax liability.
Self-employed individuals: Claim the credit while filing your annual tax return by applying it against eligible VPS contributions.

There is no fixed contribution requirement. You can decide the amount and frequency; monthly, quarterly, annually or as you choose. However, regular contributions are recommended for effective retirement planning.

Any Pakistani national with a valid CNIC can invest, whether salaried, self-employed or retired. Non-resident Pakistanis with a valid NTN, CNIC, or NICOP are also eligible.

Your contributions are allocated into sub-funds based on your chosen allocation scheme. These sub-funds invest in:

Equity securities (dividend income)
Debt and money market instruments (interest income)
Capital gains (profits from buying and selling securities)
Together, these returns drive the long-term growth of your pension savings.

Yes. You can switch between allocation schemes anytime, allowing flexibility as your risk preferences evolve.

If an individual stops contributing to the EFU Life Pension Fund, their accumulated savings remain invested and continue to grow according to the fund’s performance. However, tax credits on contributions are only granted for the years when actual contributions are made. Therefore, if contributions are paused or stopped, the individual will not be eligible for tax credits during those periods without contributions.

All accumulated funds at the date of retirement of the participant will be available to them with the following options :

Withdraw up to 50% of your accumulated savings as a tax-free lump sum
Use the remaining balance to:

Purchase an annuity from a life insurance company, or
Enter into an Income Payment Plan (IPP) for monthly payouts of up to 15 years, with the option to renew or switch to an annuity later.

Yes, partial or full withdrawals are allowed before retirement. However, early withdrawals are subject to income tax at your average tax rate over the past three years, as per VPS Rules and the Income Tax Ordinance.

In case of death: The accumulated balance is distributed among legal heirs (as per succession laws). Each heir can:

Withdraw their share (subject to tax rules),
Transfer it into their own pension account,
Use it to purchase an annuity (if aged 55+),
Buy a deferred annuity to start at age 55 or later.

In case of disability: The participant is treated as retired and is eligible to receive all retirement benefits immediately.

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EFU Hemayah Pension Fund

EFU Hemayah Pension Fund

Retirement Crafted Around You

Funds Under Management

AM1(p)

Lives Insured

Approved by

Funds Under Management

AM1(p)

Lives Insured

Approved by

How Tax Savings Work

Investment Options

Hemayah Pension Fund Tax Savings Calculator

Tax Calculation Results

FAQs

What is EFU Hemayah Pension Fund?

How can I save tax through the EFU Hemayah Pension Fund?

How can I claim tax credit?

How often do I need to contribute?

Who can invest in EFU Hemayah Pension Fund?

How is my money invested?

Can I change my investment allocation?

What happens if I stop contributing?

How are benefits disbursed after maturity?

Can I withdraw before retirement?

What happens if the investor dies or becomes disabled before maturity?

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