Roshan Digital Accounts

State Bank of Pakistan (SBP), in collaboration with all stakeholders, has always endeavored to maximize the value proposition of Roshan Digital Account (RDA) by offering a wide array of products and services to RDA holders. In order to facilitate Non-Resident Pakistanis (NRPs) to avail a regular income stream after their retirement, SBP, in collaboration with the RDA banks, has started to offer another investment option in the form of Roshan Pension Plan, based on Voluntary Pension Scheme (VPS).

What are Voluntary Pension Schemes?

• VPS is a very flexible savings cum investment plan
• It facilitates individuals to save systematically, during service, for their retirement
• The savings are topped with investment returns (compounding of profit)
• Desired investment exposure is assigned to high yielding assets
• After reaching retirement age, the individual can receive monthly income from their accumulated investments or withdraw a lump sum amount

Roshan Pension Plan

The objective of this offering is to build on our existing relationship and further strengthen our strategic bond with RDA holders by offering them customized solutions to have long term savings, protect them from life and health risks at all levels.

In order to cater to the expectations of our Pakistani diaspora and to develop a seamless user experience, SBP extensively collaborated with RDA banks and the VPS funds to develop portals for Roshan Pension Plan. Special considerations were given to ensure that the services offered through Roshan Pension Plan are completely digital, where the customer can invest, disinvest and see their investment profile in a few clicks. For the purpose, SBP team actively engaged with all the relevant stakeholders and individually reviewed the portals for each bank before deployment and making it available for customers to ensure that these portals meet the diaspora’s needs and expectations. The product will also help our NRPs to develop an asset in Pakistan that will ensure their continuous connections with the motherland.

Roshan Pension Plan offers a wide variety of sub funds to choose from i.e. equity based, debt based, money market based and hybrid of these funds. The customers can choose from any of these fund offerings according to their long term return outlook. The customers can also choose from a wide allocation schemes like lower volatility, low volatility and medium volatility that meets the customer’s risk profile. In addition, these schemes offer value added services like insurance/takaful protection to the customers in case of unforeseen circumstances like accident, disability, natural or accidental death, etc. and tax benefits as per the applicable laws of Pakistan.

These features have been engrossed into the Roshan Pension Plan that will not only add value to the existing array of products and services offered to the RDA customers but also enhance the user experience, attracting more NRPs to the RDA umbrella. As part of its commitment to the valued NRPs, SBP will continue to endeavor to enhance the product offering in RDA as the diaspora’s banking needs and expectations.