Benefits at retirement
Age
Working years
Allocation Scheme
Total Contribution (Rs.)
Cumulative Tax Credit (Rs.)
Accumalated Balance at Retirement (Rs.)
Age |
Total Value at Maturity |
Actual Investment |
Actual Investment
Benefits after retirement
% to be reinvested in MIPP
Tax-free amount withdrawn at retirement (limited to 50% of accumalated balance at retirement) (Rs.)
Tax on withdrawal over 50% (Rs.)
Amount over 50% disbursed net of tax (Rs.)
Total Amount Invested in Income Payment Plan (Rs.)
Total Amount invested in Income Payment Plan for monthly withdrawals (Rs.)
Age in which you will stop receiving monthly disbursements
Amount remaining at end of period (Rs.)
Disclaimer: VPS Simulator is duly verified by Abdul Rahim, Fellow of Society of Actuaries, USA. The Simulator calculates tax credit, accumulated amount and pension on the basis of inputs given by the user. The calculation of tax credit are based on Al Meezan Investment Management Limited’s tax consultant‘s interpretation of the tax law which to the best of the Pension Fund Manager understanding is correct. Participants are expected to seek independent advice so as to determine the tax saving from investment in voluntary pension funds. Any withdrawals from a pension fund before retirement are subject to tax as per Income Tax Ordinance, 2001.