KARACHI - UBL Fund Managers, a wholly owned subsidiary of UBL, has announced the launch of its Voluntary Pension Funds; UBL Retirement Savings Fund, the Shariah-compliant scheme and UBL Islamic Retirement Savings Fund. Voluntary Pension Funds are considered as one of the single most significant financial opportunities available to investors in Pakistan today. Investors recognise them as an efficient and prudent way to save for retirement. Apart from being a dedicated avenue for retirement planning, pension funds also offer unique tax benefits. The primary tax advantage that investors can benefit from is in the form a tax credit of up to Rs 125,000, for self-employed individuals and up to Rs 100,000, for salaried individuals. To avail this tax benefit in the financial year 2009-2010, investors will be required to make investments before June 30, 2010. The objective of UBL Retirement Savings Funds is to provide investors with an affordable and convenient way to save for their post-retirement life and enjoy financial independence in their golden years. Investors have the flexibility to choose from a variety of investment options based on their current age and retirement objectives. Individuals can open a retirement savings account with just Rs 500/-, and then make subsequent investments on a regular basis as per their personal schedule. Chief Executive of UBL Fund Managers, Mir Muhammad Ali, CFA commented that, Our vision with UBL Retirement Savings Funds is to offer an easy and affordable retirement planning solution for everyone. Generally, in our society, retirement has negative connotations associated in a persons life. This is due to lack of proper planning and guidance. With UBL Retirement Savings Funds, we offer a retirement that defies traditional notions; a perfect retirement that inspires others and allows investors to enjoy financial freedom in their golden years. UBL Fund Managers is currently managing assets of over Rs 20 billion (as of May 26, 2010) on behalf of individual and corporate investors, and enjoys a 'High Management Quality rating of 'AM2 by JCR-VIS Credit Rating Company.