Securities and Exchange Commission of Pakistan convenes national workshop on transitioning to defined contribution pension schemes

The Securities and Exchange Commission of Pakistan (SECP) hosted a National Workshop on Transitioning to Defined Contribution (DC) Pension Schemes in Islamabad, convening stakeholders from the public sector and financial industry to discuss the shift away from the existing defined benefit pension model and the associated regulatory framework. Finance Minister Senator Muhammad Aurangzeb highlighted the unsustainability of the current defined benefit system and indicated government support for the transition and implementation. SECP Chairman Akif Saeed outlined progress in developing a regulatory framework for DC pension schemes and emphasised the role of technology, transparency and awareness-building. Federal and provincial representatives shared reform updates, including insights from Khyber Pakhtunkhwa’s early implementation experience, alongside regulators, financial sector leaders and development partners.