RegAlert

Rule · SECP · 8 Jun 2018

Directive No. 7 of 2018: Front-end Fee (Sales Charge) Under the Voluntary Pension System Rules, 2005

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Amends Directive No. 4 of 2015 by inserting Paragraph 2A, which requires a Pension Fund Manager to ensure that no front-end fee is charged on any subsequent contribution made by a participant directly, through an employer or online. It applies to Pension Fund Managers, with copies sent to their Chief Executive Officers, the Mutual Funds Association of Pakistan and Trustees of Pension Funds.

PakistanSecurities and Exchange Commission of Pakistan

Securities And Exchange Commission Of Pakistan Specialized Companies Division Policy, Regulation And Development Department

No. SCD/PRDD/VPS/Directive/93/2018

June 08, 2018

Directive No. 7 of 2018

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' by inserting Paragraph 2A therein which shall read as follows:

"2A. A Pension Fund Manager shall ensure that no front-end fee is charged on any subsequent contribution made by a participant directly, through employer or online."

(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.

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Annotations and obligations
1 obligation · 5 definitions
  • Obligation 1
  • Definition / condition 5
  • 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.

PRDD Directive No. 4 of 2015Not in RegAlertPRDD Directive No. 4 of 2015 — Not in RegAlertDirective No. 7 of 2018:Front-end Fee (Sales Charge) …2018-06-08 · this documentDirective No. 7 of 2018: Front-end Fee (Sales Charge) Under the Voluntary Pension System Rules, 2005 (2018-06-08)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (1)
Amends
  • PRDD 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' by inserting Paragraph 2A therein”

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