This fund can help you save 40% on income tax
Al Meezan top manager explains pension fund
If you invest 20% of your taxable income in a mutual fund and hold it for two years, you can save this much in taxes.
Your tax savings can double if you invest another 20% of your annual income in a pension fund, whose holding period is linked to your retirement age.
Put the two together and these investments can help you save up to 40% in income tax. On top of that, the profit you make on a pension fund is also tax free. Watch Ali Lawai, Head of Marketing at Al Meezan Investment Management Limited, explain how it works.
Disclaimer: This video has been published in partnership with Al Meezan Investment Management Limited. The purpose of this report is to educate our readers and viewers about aspects of personal finance. The information provided on SAMAA Digitals platforms is not meant to be taken as financial advice. Profit rates mentioned in the video have been used as example only and actual rates may vary depending upon the market’s performance. SAMAA Digital doesn’t not necessarily agree with the guest speaker’s views. Please always independently verify or check information being provided before making any investment decision or undertaking any financial transaction.
