Pakistan Unveils Pension Reforms to Cut Fiscal Burden

Jan 5

Finance, National

Pakistan Unveils Pension Reforms to Cut Fiscal Burden

Pakistan has introduced a comprehensive set of pension reforms aimed at reducing the growing burden of pension liabilities on public finances. These reforms, announced by Adviser to the Finance Minister Khurram Schehzad via a post on X (formerly Twitter) on Saturday, are set to take effect from January 1, 2025. The initiative seeks to ensure […]

by Mrs. Anjum Shahnawaz

Pakistan Tightens Pension Rules, Limits Multiple Benefits Draw

Jan 2

National, Pakistan, Top stories

Pakistan Tightens Pension Rules, Limits Multiple Benefits Draw

Islamabad, January 2, 2025 – Pakistan has introduced sweeping reforms to pension rules, effectively restricting individuals from drawing multiple pensions simultaneously. This move, outlined in a notification issued by the Pakistan Finance Division, is based on the recommendations of the Pay and Pension Commission 2020 and aims to streamline pension disbursements and curb inefficiencies in […]

by Mrs. Anjum Shahnawaz

Sindh Cabinet Approves Contributory Pension Scheme 2024

Sep 15

National

Sindh Cabinet Approves Contributory Pension Scheme 2024

Karachi, September 15, 2024 – The Sindh Cabinet has approved the implementation of the Sindh Defined Contributory Pension Scheme 2024, set to take effect from July 1, 2024. Under this scheme, both the government and employees will contribute towards the pension fund, with the government contributing 12% and employees contributing 10% of their salaries.

by Faisal Shahnawaz

Pakistan Considers Pension Tax in 2024-25 Budget

May 27

Budget 2024-25, Taxation

Pakistan Considers Pension Tax in 2024-25 Budget

Karachi (PkRevenue.com) – In a strategic move to bolster its revenue, Pakistan is poised to introduce a pension tax in the upcoming 2024-25 budget.

by Shahnawaz Akhter

Govt. to Introduce Pension Reforms to Ease Economic Strain

May 7

National, Pakistan

Govt. to Introduce Pension Reforms to Ease Economic Strain

Islamabad, May 7, 2024 – Minister for Law and Justice Azam Nazeer Tarar announced on Tuesday that the government is poised to introduce comprehensive pension reforms.

by Mrs. Anjum Shahnawaz

National Bank Loses Pension Case Against Retired Employees

Mar 20

Money & Banking, Top stories

National Bank Loses Pension Case Against Retired Employees

Karachi, March 20, 2024 – The National Bank of Pakistan (NBP) faced a setback as it lost a crucial petition filed in court regarding pension dues. The court ruling mandates NBP to disburse pensions to 11,500 retired employees, allocating Rs 60 billion for this purpose within a month.

by Faisal Shahnawaz

EOBI Pension Increased by 17% to Rs 10,000

Sep 8

National, Top stories

EOBI Pension Increased by 17% to Rs 10,000

Islamabad, September 8, 2023 – In a move aimed at improving the financial well-being of retired citizens, the federal government announced on Friday a significant increase of 17 percent in the pension provided by the Employees Old Age Benefits Institution (EOBI), raising it to Rs 10,000.

by Mrs. Anjum Shahnawaz

FBR Extends Tax Exemption of Rs12.24 Billion on Civil and Military Pensions

Jul 13

Taxation, Top stories

FBR Extends Tax Exemption of Rs12.24 Billion on Civil and Military Pensions

Karachi, July 13, 2023 – The Federal Board of Revenue (FBR) has announced an extension of income tax exemption totaling Rs12.24 billion on pensions disbursed to civil servants and military personnel.

by Shahnawaz Akhter

Sindh Government Approves 17.5% Increase in Pension for Civil Pensioners

Jul 11

Finance, National

Sindh Government Approves 17.5% Increase in Pension for Civil Pensioners

Karachi, July 11, 2023 – In a move to provide relief to retired civil servants, the Sindh government has officially sanctioned a 17.5 percent increase in net pension, effective from July 1, 2023. This increase will apply to all civil pensioners across the province until further notice.

by Faisal Shahnawaz

Minimum Pension Raised to Rs12,000; Notification Issued

Jul 6

Finance, National

Minimum Pension Raised to Rs12,000; Notification Issued

Islamabad, July 6, 2023 – The government of Pakistan has taken a significant step towards improving the welfare of retired individuals by announcing a substantial increment in the minimum pension.

by Mrs. Anjum Shahnawaz