Securities and Exchange Commission of Pakistan has now issued Directive 7 of 2018 ref: SCD/PRDD/VPS/Directive/93/2018 dated June 8, 2018. Through this directive, SECP has issued amendments in earlier issued directives including Directive 4 of September 30, 2015 and Directive 34 of  December, 07 2017 regarding Voluntary Pension System Rules, 2005 ‘Front-end Fee (Sales Charge)’ matter.

Through this particular directive SECP stated that Pension Fund Manager shall now ensure that no front-end fee is charged on any subsequent contribution made by a participant directly, through employer or online.

Please click below to view the current directive as well as the directives which were being issued in the past and are effected.

  1. 180619-228 1-Amnding VPS-Dir 7-18 Rules (2)
  2. 180619-228 2-Front-end load for VPS – Main Dir 4-15
  3. 180619- 228 3-Front-end load for VPS Amnding Dir 34-17