AMCs allowed pension digital account opening

AMCs allowed pension digital account opening

ISLAMABAD: Securities and Exchange Commission (SECP) has allowed Asset Management Companies (AMCs) for digital pension account opening.

A Circular No. 03 of 2021 has been issued under which the SECP allowed Pension Fund Managers registered under Voluntary Pension System Rules, 2005 to digitally open individual pension accounts by complying with the requirements prescribed for digital account opening by AMCs vide circular 35, 2020 dated December 30, 2020.

Pension Fund Managers shall at all times comply with all requirements of AML Act, 2020 and AML/CFT Regulations, 2020 issued by the SECP from time to time.

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