Can anybody explain VPS(VOLUNTARY PENSION SCHEME) and how it works in Pakistan?

So I have learned that there exist a thing called VPS( Voluntary Pension Scheme)

What are the laws on that?

Is Equity Funds safe? or extremely volatile?

Is there a lockup period?

Is there any capital gains tax?

Hypothetically if a student was to cancel it before the lockup period finished would that student be taxed if the student is jobless and got his money from his mum as pocket money?

what % profit was in Equity funds for thr last five years?

if is good at all? any other financial advice?