Pension Reforms Pakistan | Govt decides to close multi-pension system

The government has chosen to close the multi-pension system, according to Finance Minister Ishaq Dar, who made the announcement on the pension reforms on Saturday in the National Assembly.

Government employees are only permitted to receive pensions from one organization, according to Finance Minister Ishaq Dar. According to him, a pension recipient’s family will only be eligible for benefits for 10 years after their death.

“A government employee can only receive a pension from one organisation. We are aware of the officials who receive pensions from three organizations,” he continued. The finance minister concluded the general discussion on the budget in the National Assembly by stating that “the government has started introducing pension reforms in the budget for the fiscal year 2023–24.”

Ishaq Dar pointed out that numerous pensions were being eliminated, while all officers in Grades 17 and higher would only receive one pension.

A government official, according to him, will be able to get both a salary and a pension from the same organization.
The minister continued, “The option of either a salary or pension will be allowed on employment in another organization.”
In the meantime, the finance minister underlined that in a last-ditch effort to finalize a stalled rescue package with the international lender, the government has made a number of adjustments to its fiscal 2024 budget.

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