RegAlertRule · SECP · 7 Dec 2017
Directive 34 of 2017: Front-end Fee (Sales Charge) under the Voluntary Pension System Rules, 2005
Paragraph 2 of Directive No. 4 of 2015 is replaced: a Pension Fund Manager may charge a maximum front-end load of up to 3% of the contribution when a participant approaches directly for investment, and up to 1.5% of the contribution when an investor transacts online or through a website. All other requirements of Directive No. 4 of 2015 remain unchanged.
Securities And Exchange Commission Of Pakistan Specialized Companies Division Policy, Regulation And Development Department
S E C P
No. SCD/PRDD/VPS/Directive/316/2017
December 7 , 2017
Directive No. 34 of 2017
Front-end Fee (Sales Charge) Under the Voluntary Pension System Rules, 2005
The Securities and Exchange Commission of Pakistan in exercise of the powers conferred under section 282B (3) of the Companies Ordinance, 1984, read with rule 11 of the Voluntary Pension System Rules, 2005, hereby amends Directive No. 4 of 2015, titled 'Front-end Fee (Sales Charge) Under the Voluntary Pension System Rules, 2005'. Paragraph 2 of the aforementioned Directive shall read as follows:
"A Pension Fund Manager may charge maximum front-end load up to 3% of the contribution if a participant approaches directly for investment, and may charge maximum front-end load up to 1.5% of the contribution if an investor carries out transaction online or through a website".
All other requirements stipulated under the Directive No. 4 of 2015 shall remain unchanged.
(Zafar Abdullah)
Commissioner (SCD)
Distribution:
1) Chief Executive Officers of all Pension Fund Managers.
2) Mutual Funds Association of Pakistan.
3) Trustees of Pension Funds.
Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.
- Permission 1
- Definition / condition 7
- background, boilerplate
Lineage: No known changes
RegAlert holds no document that amends or replaces this one. This is not a check that it is in force: confirm with the regulator.
The links and the sentences they come from (1)
- Amends
- Directive No. 4 of 2015Not in RegAlert
“hereby amends Directive No. 4 of 2015, titled 'Front-end Fee (Sales Charge) Under the Voluntary Pension System Rules, 2005'.”
More like this from SECP
SECP published 4 documents in the last 30 days. We email you each new one the day it's published.
Source: Securities and Exchange Commission of Pakistan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
In RegAlert: added