Check Voluntary Pension Funds in Pakistan: 66 Funds, 19 Managers and Rs 138 Billion

Short answer: As of 31 March 2026, Pakistan had 66 voluntary pension funds run by 19 pension fund managers, holding Rs 138 billion, according to the Finance Division's Economic Survey 2025-26. These schemes are regulated by SECP. Before you pay in, ask the manager for its licence and the fund's latest report.

Most Pakistanis plan their old age around a house, gold or a son. Very few use a pension fund. The official numbers show why: the pool is small, and few people know it exists.

We read the capital markets chapter of the Economic Survey 2025-26 on 14 October 2026. It reports the figures below, which it took from the Securities and Exchange Commission of Pakistan. We did not read any individual fund's offer document, so this is a guide to the market, not to one product.

Voluntary pension schemes hold Rs 138 billion

The Survey says the voluntary pension industry held Rs 138 billion in assets on 31 March 2026. That was spread across 66 pension funds, managed by 19 fund managers. The Survey describes the schemes as a disciplined, tax efficient source of long term retirement savings.

A voluntary pension scheme is a savings account for retirement. You choose how much to put in. A fund manager invests it in assets such as shares, bonds or money market instruments. You usually cannot take it out freely before retirement age, which is the point: it forces patience.

It is voluntary because nobody makes you join. That separates it from EOBI, the compulsory pension run for private sector workers.

The pool is about 3 percent of mutual funds

The same Survey puts mutual fund assets at Rs 4,536.71 billion on 31 December 2025. By our own calculation, Rs 138 billion is about 3 percent of that. The dates differ by three months, so treat the comparison as a rough guide, not an exact ratio.

The gap tells you something. Pakistani savers who invest outside banks mostly choose mutual funds and national savings, which pay out sooner. Pension funds are a long game. Our guide to investing in mutual funds with a CNIC covers the easier route first.

Another measure is the average fund. Dividing Rs 138 billion by 66 funds gives roughly Rs 2.1 billion each. That is our arithmetic, not a figure in the Survey, and funds differ widely in size.

A pension fund can cut your income tax bill

The Survey calls the schemes tax efficient, but it does not give a rate or a limit. Pakistan's tax law has a credit for approved pension fund contributions. We explain the rule, with its source in the Income Tax Ordinance, in our guide to cutting income tax with Zakat, donations and a pension fund.

Check that guide before you invest, because the credit has conditions. Do not buy a pension fund only for the tax saving. Your money is tied up for years.

If you do not pay income tax, the tax benefit means nothing to you. Then the question is simpler: do you want your savings locked until retirement?

Five questions to ask before you pay in

Ask the manager five things: is it a licensed pension fund manager, which fund you are buying, where it invests, what it charges, and when you can withdraw. Get each answer in writing. A good manager answers the same day without pressure.

1. Ask for the manager's SECP licence details and confirm them with SECP.
2. Ask which sub fund you are choosing, for example equity, debt or money market.
3. Ask what the management fee and other charges are, as a yearly percentage.
4. Ask when you can withdraw, and what you lose if you leave early.
5. Ask for the latest fund report and read the past returns, remembering that past results do not promise future ones.

The sub fund names in step two are our general description, not from the Survey. Offer documents differ, so read the one you are given. For a broker, also check the broker is genuine with our guide to the PSX TREC holder check.

Be careful with anyone who promises a fixed return. A fund that invests in shares or bonds goes up and down. Only the manager's own paperwork can tell you what is allowed.

Informal workers may get a separate scheme

Separately, the government is discussing a voluntary pension for domestic and informal workers. We reported that plan after a cabinet committee meeting. It is not the same as the 66 funds above, and we have not seen a start date.

Read the details in our report on the planned voluntary pension for informal workers. If it launches, it will have its own rules.

If you are a domestic worker, shopkeeper or farmer without a salary slip, your best step today is to check your EOBI status. Pension funds suit people who can save a fixed sum every month.

Questions about voluntary pension funds

How many voluntary pension funds does Pakistan have?

The Economic Survey 2025-26 reports 66 pension funds as of 31 March 2026. They are run by 19 pension fund managers.

How much money do they hold?

They held Rs 138 billion on 31 March 2026, according to figures the Survey took from SECP.

Who regulates these funds?

The Survey attributes the pension fund figures to the Securities and Exchange Commission of Pakistan, the regulator of capital markets.

Can I withdraw before retirement?

The Survey does not say. Rules differ by fund, so ask the manager and read the offer document before you pay in.

Is a pension fund safe?

No investment fund can promise a return. Funds that hold shares or bonds can lose value, so ask what the fund invests in.

How we verified this

What we checked, where we read it, and what we could not confirm.

Last checked on 14 October 2026, Pakistan time. We read the capital markets chapter of the Finance Division's Economic Survey 2025-26. We could not open SECP's own site from our check, so we have not confirmed the figures against its data or its list of licensed managers. We did not read any fund's offer document.