Govt introduces contributory pension scheme

MG News | September 04, 2024 at 10:08 AM GMT+05:00

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September 04, 2024 (MLN): The government has introduced a contributory pension fund scheme for the new entrants who are appointed on regular basis on or after July 01, 2024.

Federal government employees would contribute 10% of their basic pay while the government would contribute 20%.

“Government has decided that in future, contributory pension fund scheme shall be introduced for all the civil employees of the federal government including civilian paid from defence estimates who are appointed on regular basis on or after July 01, 2024," said a notification issued by the finance division.

“This scheme shall also be applicable to the armed forces who are appointed on a regular basis on or after July 01, 2025,” the notification added.

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