Is Pension Scheme allowed where one choose the policy (Maturity and Funds) of his choice is it Halal? When Government promises the investment will be Riba Free?

Pension Scheme is self-contributory and flexible with option to decide how much one wants to contribute. There is no maximum limit of contribution. It is not deducted by salaries of an employee forcefully rather we are free to choose from an option of different maturity periods as well as range of lump sum payments. See the following link for details http://www.opf.org.pk/htmlall/pension/ Special Features: Conditional insurance cover without medical checkup. Contribution to be invested in Riba Free ventures. All contribution received would be invested through Professional Fund Managers in Government Securities and Bonds providing Riba Fee profits. Contributions and pension amounts Tax Exempt. Annual increase in pension and principal amount. Both the pension amount and the principal sum shall increase gradually every year. Death or disability? (Pension Scheme Trust) has entered into a contract with the State Life Insurance Corporation to ensure immediate payment of pension in the event of serious disability or death caused by an accident of a subscriber. In such cases the spouse/ dependents nominated will start receiving a monthly pension immediately. Is such a scheme Halal?