Federal DC Pension Scheme Fund Managers in Pakistan: All 16 Approved Companies, the 10% and 12% Contributions and How to Open Your Account

We read the list, the Finance Division's implementation memorandum of 11 August 2026 and the scheme rules published in the Gazette of Pakistan on 8 September 2025, all on the Finance Division's circulars page, on 7 November 2026. Below are all 16 companies, the contribution rates, how much of your money can go into shares at each age, and the steps to open the account.

The 16 pension fund managers approved for federal employees

These are the pension fund managers that have signed an agreement with the federal government for the Defined Contribution Pension Fund Scheme 2024. Under rule 3(2) of the scheme rules, only these eligible managers can run employer pension funds for the scheme. Pick one of them.

The rules allow both conventional funds and Shariah compliant funds. If you want an Islamic option, ask the manager you pick whether it offers a Shariah compliant employer pension fund for the scheme. The list does not say which manager offers which.

You pay 10 per cent and the government pays 12 per cent

The First Schedule of the rules sets the monthly contribution for federal government employees, including civilians paid from defence estimates. The employee pays 10 per cent of pensionable pay. The employer, meaning the government, pays 12 per cent. Together that is 22 per cent a month.

Your share is deducted from salary. The government's share is paid on top of your salary, not out of it. The accounts office then sends the full 22 per cent to the bank account of your chosen pension fund, which credits units to your own pension account.

The figures are our arithmetic. The rules also say your salary slip must show your contribution, the government's contribution and the total paid so far. If arrears of salary are paid, the contributions on them are paid at the same time. The accounts office must also allow any income tax credit you are due when it deducts tax from your salary, the same kind of relief set out in cutting income tax with a pension fund. For armed forces, the rules print the rate table with blank figures, so we cannot give a rate for them. For the older pension that this scheme replaces for new hires, see the federal pension calculation.

Who must join the scheme

The scheme covers civil servants, including civilians paid from defence estimates, and civil armed forces personnel, who were first appointed on a regular basis on or after 1 July 2024. A contract employee joins from the date of regular appointment, if that date is on or after 1 July 2024.

Two groups are excluded. Federal employees appointed on a regular basis before 1 July 2024, who later move to another federal civil post, stay out. So do judges of the Islamabad High Court and the Supreme Court. Armed forces join from a date the federal government sets. Whether your own case is covered is set out in checking whether the DC pension scheme covers you.

How to open your pension account

Rule 5 makes the employee responsible. On appointment, you open a pension account with an eligible manager and tell the accountant general through proper channel. The accounts office must not pay your salary until your pension account details are recorded.

1. Pick one of the 16 managers in the table above.
2. Contact the manager and open a pension account under the federal government's employer pension fund.
3. Choose how your money is split between sub-funds, within the age limits below, or accept the default.
4. Give the account details to your office, which passes them to AGPR or your accounts office.
5. Check your next salary slip shows the 10 per cent and 12 per cent lines.

The 11 August 2026 memorandum told every ministry and division to name a focal person in BS-17 or above, set up an office to verify employee data, and update the details of every regular employee appointed since 1 July 2024 with AGPR within 15 days. So if your office has not asked you for pension account details yet, ask who its focal person is.

Shares are limited by age, and none for the first three years

The Second Schedule caps how much of your balance can sit in high risk equity sub-funds. For the first three years after you open the account, the cap is zero, whatever your age. After that it falls as you get older, from 50 per cent at 30 or under to 20 per cent near 60.

If you do not choose, the default allocation in the Third Schedule applies. We did not read that schedule, so we do not describe it here. Ask your manager what the default puts your money in.

You can switch managers, but cannot withdraw early

You can move your balance from one eligible manager to another, under the Voluntary Pension System Rules, 2005, and you must tell the accountant general. You cannot withdraw anything before your retirement is notified. At retirement, you can take out at most 25 per cent of the balance.

The rest must stay invested under the Voluntary Pension System Rules for at least 20 years, or until death, whichever comes first. For resignation, dismissal or voluntary retirement, the rules say the federal government will set what you can take out. We found no such order on the circulars page.

Common questions

Which pension fund managers are approved for federal employees?

16 companies, listed by the Finance Division on 2 August 2026, from ABL Asset Management to AWT Investments. The full list is in the first table above.

How much is deducted for the federal DC pension scheme?

10 per cent of pensionable pay from your salary. The government adds 12 per cent, so 22 per cent goes into your pension account each month.

Who has to join the federal defined contribution pension scheme?

Civil servants and civil armed forces personnel first appointed on a regular basis on or after 1 July 2024, and contract staff from a regular appointment on or after that date.

Can I withdraw my whole pension balance at retirement?

No. You can withdraw up to 25 per cent. The rest stays invested for at least 20 years or until death.

Can I change my pension fund manager later?

Yes. You can transfer your balance to another eligible manager under the Voluntary Pension System Rules, 2005, and must inform the accountant general.

What we read

On the Finance Division's circulars page on 7 November 2026 we read the list of eligible pension fund managers dated 2 August 2026, memorandum No. 19(3)REG.6/2026-0001 of 11 August 2026, and the Federal Government Defined Contribution Pension Fund Scheme Rules, 2024, as printed in the Gazette of 8 September 2025. The rules are a photographed copy. The contribution examples are our arithmetic.