Pakistan, July 17 -- The Securities and Exchange Commission of Pakistan (SECP) has published a White Paper following the National Workshop on Transitioning to a Defined Contribution (DC) Pension Scheme.

The workshop convened senior representatives from federal and provincial governments, the insurance and pension fund industries, and international development partners to discuss the shift from Pakistan's fiscally unsustainable Defined Benefit (DB) pension model to a more transparent, sustainable, and inclusive Defined Contribution system, implemented under SECP's Voluntary Pension System (VPS) framework.

The Government of Khyber Pakhtunkhwa (KPK) initiated DC pension reforms in July 2022. Under the new system, all newly hired employees ...