JS Momentum Factor ETF (-) | JSETF: - INAV
The investment objective of JS Punjab Islamic Pension Fund is to provide a secure source of savings and regular income after retirement to the Employee(s) of Government of Punjab. The fund aims to achieve its objective by investing in Shariah compliant diversified portfolio of asset classes^, in accordance with the investment allocation policy. The fund seeks to maximize returns while minimizing risks, providing a stable return over the long term.
JS Punjab Islamic Pension Fund is a contributory pension fund managed by JS Investments Limited, a leading asset management company with the highest AM1 rating by PACRA. The fund is designed to provide Shariah compliant retirement benefits to the employees of Punjab Government. The fund invests in a diversified Shariah compliant portfolio of asset classes^, with the objective to provide a secure source of savings and regular income after retirement to the Employee(s) of Government of Punjab.
The fund is exclusively for government employees of Punjab who are looking for a Shariah compliant, stable, reliable and long-term investment option for their retirement. This includes all employees who have been appointed by the Government of Punjab on or after the commencement of Punjab Civil Servants (Amendment) Ordinance, 2023 (I of 2024) i.e. January 8, 2024* and persons regularized as a civil servant through any legal instrument issued on or after the commencement of the Punjab Civil Servants (Amendment) Ordinance 2023 (I of 2024) and shall be considered an employee for the purpose of the rules from the date of issuance of such legal instrument, regardless of the effective date of regularization.
^Initially all contribution will be invested in Money Market sub-fund only for a period of 3 years from the date of account opening
*but not including any person who was appointed as Government servant holding pensionable post before the commencement of the said Ordinance, and was subsequently inducted into any Provincial service through proper channel after coming into force of the Punjab Civil Servants (Amendment) Ordinance 2023 (I of 2024).| Term Sheet JS Punab Islamic Pension Fund | |
|---|---|
| Fund Name | JS Punjab Islamic Pension Fund |
| Currency | PKR |
| Takaful Service | Death/Permanent Disability before attaining Retirement Age: PKR 1,000,000 In Case of Accidental Death before attaining Retirement Age: PKR 2,000,000 Note: It is clarified that no financial, administrative, or legal implications shall arise on the PFM and Pension Fund in relation to the takaful benefit until the Finance Department of Government of Punjab, in coordination with the Punjab Pension Fund and MUFAP, finalizes the insurance arrangement and it becomes fully operational |
| Asset Manager Rating | AM1 by PACRA |
| Trustee | Central Depository Company of Pakistan Limited |
| Auditor | Grant Thornton, Anjum Rahman |
| Shariah Advisor | Al-Hilal Shariah Advisors |
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