Lucky Islamic Pension Fund
Lucky Islamic Pension Fund (LIPF) is a Shariah Compliant Voluntary Pension Scheme (VPS). It is a Unit Trust Scheme consisting of Sub-Funds under the VPS Rules 2005 on the basis of Wakalah tul Istismar (Investment Agency Agreement).
Investment Objective
LIPF investment objective is to provide a secure source of retirement savings and regular income after retirement to the Participants.
Key Benefits
Regular Shariah Compliant smart income stream post-retirement.
Takaful protection for death and disability.
Tax Free withdrawal of 50% of accumulated balance upon retirement or after 25 years of first contribution.
Up to 20% of taxable income at average rate of tax as per Section 63 of ITO 2001.
Flexible and customized contribution & asset allocation as per individual preference.
Transfer from another VPS to LIPF. This includes transfer of Accumulated balances from recognized provident fund to LIPF.
Downloads
About the Fund
Category
Fund Type
Fund Name
Tenure
Perpetual
Sub-Funds
“Lucky Islamic Pension Fund – Equity Sub Fund” (the “Equity Sub-Fund”), “Lucky Islamic Pension Fund – Debt Sub Fund” (the “Debt Sub-Fund”) “Lucky Islamic Pension Fund – Money Market Sub Fund” (the “Money Market Sub-Fund”), and “Lucky Islamic Pension Fund- Gold Sub Fund” (the “Gold Sub Fund”)
Minimum Contribution
Risk Profile
Pricing
Management Fee
Front End Load
Up to 3.00% on all contributions
Back End Load
None
Asset Manager
Lucky Investments Limited
Shariah Advisor
Mufti Muhammad Hassaan Kaleem
Trustee
Central Depository Company of Pakistan (CDC)
Auditors
A.F. Ferguson & Co
Illustration of Tax Credit on Investment in Voluntary Pension Schemes (VPS)
| Annual Taxable Income | Tax Amount (as per Tax Law) | Required Investment in VPS* | Total Tax Credit (Savings) | VPS Savings % |
|---|---|---|---|---|
| For Salaried Individual(s) | ||||
| 2,200,000 | 116,000 | 440,000 | 23,200 | 5.3% |
| 3,200,000 | 346,000 | 640,000 | 69,200 | 10.8% |
| 4,100,000 | 616,000 | 820,000 | 123,200 | 15.0% |
| 5,200,000 | 1,001,000 | 1,040,000 | 200,200 | 19.3% |
| 10,000,000 | 2,681,000 | 2,000,000 | 536,200 | 26.8% |
| 20,000,000 | 6,737,290 | 4,000,000 | 1,347,458 | 33.7% |
| 50,000,000 | 18,182,290 | 10,000,000 | 3,636,458 | 36.4% |
| For Non-Salaried Individual(s) | ||||
| 1,200,000 | 90,000 | 240,000 | 18,000 | 7.5% |
| 1,600,000 | 170,000 | 320,000 | 34,000 | 10.6% |
| 3,200,000 | 650,000 | 640,000 | 130,000 | 20.3% |
| 5,600,000 | 1,610,000 | 1,120,000 | 322,000 | 28.8% |
| 10,000,000 | 3,590,000 | 2,000,000 | 718,000 | 35.9% |
| 20,000,000 | 8,899,000 | 4,000,000 | 1,779,800 | 44.5% |
| 50,000,000 | 23,749,000 | 10,000,000 | 4,749,800 | 47.5% |
