The Ministry of Finance, in collaboration with the Controller General of Accounts and the Accountant General Pakistan Revenues, has undertaken a series of initiatives aimed at improving the pension disbursement system for overseas Pakistani retirees. According to a document available with Wealth Pakistan, the government is addressing longstanding issues related to pension disbursements, data integration […]
pension system
Govt launches new pension scheme for federal hires
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 […]