The federal government has officially launched a major pension reform, replacing the old pension system for new recruits with a contributory pension scheme. Under the new rules, federal employees hired on or after July 1, 2024, must contribute 10% of their basic salary, while the government will contribute 12%. This change brings the total contribution […]
pension scheme
ADB flags funding gaps in Pakistan’s pension scheme
The Asian Development Bank (ADB) has raised concerns over Pakistan’s pension scheme for government employees. In a recent report, ADB said the scheme is attractive but lacks a proper funding mechanism. The bank warned that the growing pension burden puts serious pressure on the national treasury. Reforms are urgently needed to ensure long-term sustainability. The […]