How to Open a Pensioners' Benefit Account in Pakistan: Rs 1,060 a Month per Rs 100,000
Open a National Savings Pensioners' Benefit Account in Pakistan: who qualifies, the Rs 10,000 to Rs 7.5 million limits, papers, 12.72% profit and exit charges.
A Pensioners' Benefit Account pays 12.72% a year as monthly income, which is Rs 1,060 a month for every Rs 100,000, and the profit has no withholding tax. You can put in Rs 10,000 to Rs 7.5 million. Open it at any National Savings Centre with your CNIC and proof of retirement.
Most retired people in Pakistan keep their lump sum in a bank account that pays less than this. The Pensioners' Benefit Account (PBA) is a National Savings scheme made only for pensioners and the families of deceased pensioners. This guide shows who can open one, what to carry, what it pays and what it costs to leave early.
Check that you qualify before you go to the centre
The account is open to pensioners of the federal and provincial governments, the Azad Jammu and Kashmir government, the armed forces, and semi-government and autonomous bodies. Eligible family members of a deceased pensioner can also invest. You may hold only one such account at a time.
That last rule matters. National Savings lists the limit as one account at any given time across Pakistan, not one per branch. If you already hold a PBA, add to it instead of opening a second one. Each account takes a maximum of eight deposits, which means the first deposit plus seven more.
If you are a private sector retiree, this account is not for you. People who worked in a private company and draw a pension from the old-age fund should look at the guide to claiming an EOBI pension first. Senior citizens who are not pensioners may qualify for the Behbood certificate instead, covered in the guide to buying Behbood Savings Certificates.
Carry these papers and the DA-I form
You need an attested copy of your CNIC or NICOP, and proof that you are retired. A Pension Payment Order is the usual proof. You also fill in form DA-I, which National Savings gives out for free at the centre.
Bring the original CNIC as well, so the staff can match it with the copy. Bring a pen and your pension book or payment slip if you have one. If you are a family member of a deceased pensioner, ask the centre which extra papers it wants for your case, because the scheme page does not list them and we could not confirm them.
A deposit in cash opens the account at once. A cheque or bank draft opens it only after the money clears, so a first cheque means a short wait. Plan for that if you want the profit to start on a certain date.
Know what the account pays and when
The account pays profit every month, at a rate set by the Finance Division and changed from time to time. The latest rate on the National Savings rate sheets is 12.72% a year from 1 October 2026. That works out to Rs 1,060 a month on each Rs 100,000.
| Amount invested | Monthly profit at 12.72% | Yearly profit |
|---|---|---|
| Rs 100,000 | Rs 1,060 | Rs 12,720 |
| Rs 1,000,000 | Rs 10,600 | Rs 127,200 |
| Rs 3,000,000 | Rs 31,800 | Rs 381,600 |
| Rs 7,500,000 | Rs 79,500 | Rs 954,000 |
The Rs 100,000 line is the figure printed on the National Savings rate card. The other lines are our own multiplication of that figure, so they are not printed numbers. The rate can change, so check the latest in the story on National Savings profit rates from 1 October 2026 before you commit a large sum.
The scheme page says no withholding tax is taken from the profit, and the account is exempt from zakat deduction. For a pensioner who files a return, that matters. The guide to filing a tax return as a pensioner explains how pension income is treated.
Understand the ten year term and the exit charge
The account runs for ten years. You can still withdraw money at any time, but National Savings deducts a service charge if you leave early. The charge falls each year you stay, and it stops after the fourth year.
| When you withdraw | Service charge listed |
|---|---|
| Within the first year | 1% |
| In the second year | 0.75% |
| In the third year | 0.5% |
| In the fourth year | 0.25% |
These are the charges on the scheme page. They match the pattern in the guide to encashing National Savings certificates early. On Rs 1,000,000, a withdrawal in the first year costs Rs 10,000, by our arithmetic. Keep that in mind before you park money you may need in six months.
When the ten years end, you can reinvest at the rates of that day. If the holder dies, the family follows the steps in the guide to claiming a deceased person's National Savings.
Open the account in six steps
The process is short and done in person. Plan on one visit with your papers and your money ready, and go early in the day.
- Find your nearest National Savings Centre.
- Take the original CNIC, an attested copy and your Pension Payment Order.
- Fill in form DA-I, free at the counter.
- Choose an amount from Rs 10,000 to Rs 7.5 million.
- Pay in cash for same day opening, or by cheque or draft.
- Keep your account details safe and check the first monthly profit.
Common questions about the Pensioners' Benefit Account
Can a private sector retiree open a Pensioners' Benefit Account?
No, as listed. The account is for government, armed forces, semi-government and autonomous body pensioners and their eligible family members. A private retiree should ask a National Savings Centre about other schemes.
Is the profit taxed?
The scheme page says no withholding tax is taken and the account is exempt from zakat. Report the income on your return if the law requires it for you.
Can I open more than one account?
No. National Savings allows one account at a time across Pakistan. You can add up to seven more deposits to the same account, to the Rs 7.5 million limit.
How do I take my money out before ten years?
Withdraw at the centre. A service charge of 1% to 0.25% applies in the first four years, and nothing after that, according to the scheme page.
Is the 12.72% rate fixed?
No. The Finance Division changes the rate, and the rate has moved several times in 2026. Ask the centre for the rate on the day you deposit.
How we verified this
What we checked, where we read it, and what we could not confirm.
Last checked 8 October 2026. The eligibility, limits, documents, ten year term and withdrawal charges come from the Pensioners' Benefit Account page on the National Savings website, which we read on 8 October 2026. The summary page on the same site dates its rates from 1 October 2026 and shows the Savings Account at 10.00%. The 12.72% and Rs 1,060 figures come from the National Savings rate sheets we read on 3 October 2026 for our rates story. We did not visit a centre, so ask there about papers for family members of a deceased pensioner.
About the author
Senior Writer, Public Services and Technology
Shahid joined us in 2024 as an author. He is a senior contributor to Pakistan's leading technology websites. He writes detailed articles, mostly covering his expertise in the latest tech, mobiles, apps, gadgets, and step-by-step guides. His ideology is to help people understand the latest trends and explain complex methods through very easy-to-understand guides.
