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Government of Pakistan has introduced New Contributory
Pension Scheme for Civil Servants and Armed Forces
The Government of
Pakistan has introduced a new contributory pension scheme for civil servants
and members of the armed forces. Starting July 1, 2024, for civil servants and
July 1, 2025, for armed forces personnel, this initiative is designed to update
the pension system and stabilize long term financial assurances.
Overview
The new pension scheme mandates contributions from both
employees and the government, setting a foundation for a more healthy financial
strategy in managing public sector pensions.
Employee Contribution:
Rate:Employees will contribute 10% of their basic salary.
Government Contribution:
Rate: The federal government will enhance this by contributing 20% of the basic salary.
Implementation
As directed by the Finance Division, the scheme will be implemented in earnest, reflecting a structured approach to roll out across all eligible sectors.
For ongoing updates on government employment reforms and
detailed analyses of how these changes affect you, stay tuned to GB Career Hub.
#PensionReform #GovernmentOfPakistan #CivilServants
#FinancialStability #PublicSector
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