Growing pension bill and economy on March 29, 2024Like many other nations, Pakistan also struggles to manage ever-escalating pension bills. The existing pension scheme, designed as a non-contributory, defined benefit (DB)/pay-as-you-go (PAYG) system for providing financial security to retired public sector employees, is currently burdening the national exchequer. Therefore, growing pension costs necessitate transitioning from a non-contributory DB/PAYG pension scheme to a defined-contributory […]