In Islamabad, a proposal has been put forward to amend the Pension Fund2023. This proposal suggests limiting the duration of pensions for heirs ofretired government employees to 10 years after the retiree’s passing.
The proposal also includes a provision stating that in the event of aretired employee’s child having a disability, they would be entitled toreceive the pension for an indefinite period.Sources indicate that theMinistry of Finance has forwarded this proposal to the Prime Minister’sOffice for approval.
Furthermore, the scheme proposes providing family pensions to the heirs ofmartyrs for a duration of 20 years.
The proposal outlines a pension calculation method based on the last 36months’ eligible pensionable amount upon an employee’s retirement.
Pensioners, after retirement, will receive an annual increment in additionto the pensionable amount. This increment will be tied to the rate ofinflation, with an increase of up to 10 percent. The government will alsomake adjustments in accordance with inflation rates.
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Government employees with 25 years of service can opt for early retirement.However, a three percent annual deduction will be applied to their pensionamount until they reach the age of superannuation.
Additionally, retired employees can choose to receive up to a 25 percentreduction in their gross pension based on the government’s specified termsand conditions.
After retirement, in the case of reemployment, employees will have theoption to either retain their pension or receive a salary for their secondemployment.