Keeping in view the hardships faced by the pensioners, this ten years' maturity scheme was launched by the Government on 19th January, 2003. The deposits are maintained in the form of accounts and the profit is paid on monthly basis reckoned from the date of opening of the account. 

Who Can Invest .

The pensioners of Federal Government, Provincial Governments, Government of Azad Jammu & Kashmir, Armed Forces, Semi Government and Autonomous bodies and in case of death Pensioner's eligible member of the family are allowed to invest.

How To Open an Account.

These accounts can only be opened at the National Savings Centre (NSCs) by filling in a prescribed form called DA-1, which is available at the offices of issue free of cost. A copy of the Computerized National Identity Card (CNIC)/NICOP and the copy of Pension Payment Order may be attached with the application form. To download application form in editable Adobe Acrobat format, please click here.

Mode of Deposit.

The account can be opened by depositing cash at the issuing office or by presenting a cheque. The account shall immediately be opened on receipt of cash. However, in case of deposit through cheque the account shall be opened with effect from the date of realization of the cheque after receipt of the clearance advice.

What Is The Investment Limit.

The minimum investment limit is Rs.10,000/-, whereas, the maximum limit is Rs.5,000,000/-. An investor can invest only seven subsequent deposits in the account. However, under no circumstances more than, (i) eight operative units, (ii) prescribed limit of investment i.e. Rupees five million (iii) one account all over Pakistan at a time is allowed to be maintained. In case of breach of any of above said condition, such account shall be treated as irregular with zero profit. Already collected due amount of profit thereon would be irregular and shall be liable to be recovered/deducted from the account holder/recipient of profit deposited amount.

After Death of Account Holder:.

In the event of death of account holder, if the nominee(s) is not eligible member of the family, he/she/they would be entitled to profit @ prevailing rate of Savings Account for a maximum period of three months reckoned from the date of death of the holder or withdrawal of amount by the nominee whichever is earlier. However, if nomination is among the eligible members of the family, the account shall be transferred to his/her name by fulfilling the codal formalities and after transfer he/she shall be entitled to receive earn profit at the rates as were being earned by its original holder provided there is no litigation in court or order issued otherwise from the court of law.

What About Withdrawal.

The deposits can be withdrawn any time after date of deposit subject to deduction of service charges at the following rates:

if withdrawn before completion of one year from the date of deposit.

@1% of the principal amount

if withdrawn after one year but before completion of 02 years from the date of deposit.

@0.75% of the principal amount

if withdrawn after two years but before completion of 03 years from the date of deposit.

@0.5% of the principal amount

if withdrawn after three years but before completion of 04 years from the date of deposit. @0.25% of the principal amount
if withdrawn after completion of 04 years from the date of deposit. No Service Charges


Payment from accounts may be allowed through a person duly authorized (in writing) by the investor on authority letter under his signatures provided that:-

(a). the signatures of the authorized person are also attested by the investor on the letter of authority;

(b). the Centre Incharge is personally satisfied that the authorized person is genuine and the Withdrawal Slip and the letter of authority bear genuine signatures of the investor;

(c). the receipt of the amount is got acknowledged from the authorized person on reverse of the withdrawal slip personally by the Centre Incharge.

A receipt of the service charges so deducted, duly signed by the officer incharge and the cashier,  shall be issued to the investor.

What Will I Get As Profit.

At the prevailing rates monthly profit of Rs.780/- is paid on investment of each Rs.100,000/-. This way the profit rate works to 9.36% p.a. Automatic reinvestment of profit facility to earn further profit at the scheme's rate is not admissible in this scheme. The facility of automatic re-investment on maturity of Deposits in PENSIONERS BENEFIT ACCOUNT is available.

Tax & Zakat Status.

The withholding tax is not collected on the profit earned on the deposits made in this scheme. The investment made in the scheme is also exempt from Zakat.


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