New scheme for government employees on IMF condition, big news

ISLAMABAD: The new government is preparing to introduce a new voluntary pension scheme from July 1, following the terms of the IMF.

According to the details, the implementation of IMF conditions is going on in the new government, the proposal of a new scheme for government employees has come out.

Government employees will be given a voluntary pension scheme instead of government pension, Finance Ministry sources say that preparations are being made to bring a new voluntary pension scheme from July 1. The new pension scheme has been prepared by the Securities and Exchange Commission.

The Ministry of Finance has said that under the proposed scheme, even in case of change of job, the pension facility will continue to the employees, it has also been proposed to apply this scheme to both public and private sectors.

Note that the IMF has requested Pakistan to start a Voluntary Pension Scheme to contain the pension expenditure, the necessary legislation for the Voluntary Pension Scheme will be in the Finance Bill.

The IMF had suggested that early retirement should be discouraged and pensioners should be given only one pension, retired officers working in different institutions should not be given separate pensions, the system of giving 3 pensions to one pensioner should end. Should.

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