Al-Ameen Islamic Retirement Savings Fund is a Shariah-compliant customized pension plan designed to offer you with an easy and affordable means of growing your savings so you can achieve a financially independent and rewarding life after retirement. It is important to continually build your savings so you can be financially secure as you grow older.
Al-Ameen Islamic Retirement Savings Fund (AIRSF) is ideal for investors who:
- Want to save towards your retirement in Shariah Compliant mode with as low as Rs. 500/- initial and subsequent contributions only.
- Want to invest a lump sum amount or invest periodically.
- Want to invest in different asset classes in order to have diversified portfolio.
- Want to avail a tax credit on their investment.
- Want to transfer balance from recognized Provident /Gratuity/Superannuation Funds.
Four fixed allocation plans, a life cycle plan, and a customized allocation plan are available according to your choice and risk appetite.
Free Takaful Coverage Benefits:
| Benefit | Cause of Event | Takaful sum per investor covered * |
| Basic Death Benefit | Natural or Accident | Up to Rs.5,000,000/- |
| Permanent Total Disability | Accident only | Up to Rs.5,000,000/- |
| Accidental Medical Expense Reimbursement | Accident only | 20% of previous month’s closing balance up to max. limit of Rs.1,000,000/- (whichever is lower) |
*Sum assured will equal to previous month’s closing aggregate balance in Voluntary Pension funds & administrative investment plans subject to maximum cover and age (18 to 65 years) limits.
Note: Any early withdrawal OR in excess of 50% withdrawal at OR after retirement will attract Withholding tax as per Income Tax Ordinance, 2001 (U/s 23A of Part 1 of The Second Schedule). Income from Income Payment Plans is also subject to income tax in the hands of Participant as per Income Tax Ordinance, 2001 w.e.f 1st July, 2022 as the exemption has been withdrawn through The Finance Act, 2022.
