New retirement rules approved by government to save billions on retirement funds

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New retirement rules approved by government to save billions on retirement funds

Sindh government has decided to impose a ban on the early retirement of the employees of the provincial government.

The decision was taken earlier today in a meeting chaired by Chief Minister Sindh, Syed Murad Ali Shah, to discuss reforms to reduce the annual provincial pension budget. ------------------------------

According to details, the provincial government has also declared a minimum of 25 years of service and 55 years of age mandatory for seeking retirement.

It has also ordered to determine pension on the basis of average salary received during three years before retirement instead of the last received salary. ------------------------------

It has also directed to limit the family pension to only immediate family members such as wife, husband, and children aged less than 21 years of age.

The above-mentioned decisions will be applicable to the newly recruited employees and will save the Sindh government a total of Rs. 112 billion on the pension bill.