Apr 15

Notification issued to raise 10% in pension

ISLAMABAD: The Finance Division has issued a notification to implement the decision of the government to raise 10 per cent increase in pension to pensioners of the federal government. Prime Minister Shahbaz Sharif has sanctioned an increase of 10 per cent of net pension with effect from April 01, 2022 until further orders to all […]

by Anjum Shah

SBP’s instructions on pensioners biometric verification

Jan 7

Money & Banking

SBP’s instructions on pensioners biometric verification

KARACHI: The State Bank of Pakistan (SBP) on Friday issued instructions regarding biometric verification of pensioners. Prior to these instructions the SBP issued BC&CPD Circular Letter No. 01 dated February 01, 2021 and File Letter No. BC&CPD/O&SSD/BVS/5873 dated May 27, 2021 on the subject. The Finance Division issued a letter on December 08, 2021 on […]

by Faisal Shah

Dec 22

EOBI to launch self assessment scheme for employers

KARACHI: Employees Old-Age Benefits Institution (EOBI) has proposed a self assessment scheme under which the institution may select companies through random balloting for audit. EOBI Chairman Shakeel Ahmed Mangnejo said that for the convenience of employers as well as to encourage more contributions from them, a Self-Assessment Scheme is proposed in the upcoming amendment into […]

by Faisal Shah

Mandatory biometric verification restored for pensioners

Dec 9

Finance

Mandatory biometric verification restored for pensioners

ISLAMABAD: The government has made mandatory the biometric verification for pensioners to make withdrawal of their pension amount from banking system. In an office memo, the Finance Division said that the mandatory requirement of biometric verification has been restored for the pensioners, which was suspended due to COVID-19. READ MORE: Grant of 10% increase in […]

by Anjum Shah

PM adviser stresses need to rationalize salaries

Nov 30

Finance, National

PM adviser stresses need to rationalize salaries

ISLAMABAD: Shaukat Tarin, Adviser to the Prime Minister on Finance and Revenue, on Tuesday stressed the need to rationalize salaries, allowances, and perks. Tarin was addressing a virtual meeting of the Pay and Pension Commission. The Commission is headed by Zafar Ahmed Khan and is composed of senior professionals from public and private sectors as […]

by Anjum Shah

Grant of 10% increase in pension notified

Jul 8

Finance

Grant of 10% increase in pension notified

ISLAMABAD: The federal government on Thursday notified the grant of 10 per cent increase in pension of all government pensioners with effect from July 01, 2021. The finance ministry said that the President has sanctioned an increase at 10 per cent of net pension with effect from July 01, 2021 until further orders to all […]

by admin

FBR directs timely disposal of pension, retirement cases

Jun 25

Taxation

FBR directs timely disposal of pension, retirement cases

ISLAMABAD: The Federal Board of Revenue (FBR) on Friday directed the field formation to ensure timely disposal of pension and retirement cases otherwise the officers concerned will be responsible for any lapse. An official notification issued by the FBR stated that it is observed with serious concern that field formations while forwarding / submitting retirement […]

by admin

Budget 2021/2022: salary and pension increased by 10 percent

Jun 11

Budget 2021-2022, Finance

Budget 2021/2022: salary and pension increased by 10 percent

ISLAMABAD: The federal government on Friday presented budget 2021/2022 and announce an increase of 10 percent in basic salary and pension of the government employees. While delivering the budget speech for the year 2021-22, Minister for Finance Shaukat Tarin announced that the increase in salaries and pensions of the federal government employees would be applicable […]

by admin

Pensioners living abroad require presenting life certificate

May 4

National

Pensioners living abroad require presenting life certificate

ISLAMABAD: The finance division has made it mandatory for pensioners living abroad to submit life certificate in place of biometric verification. The ministry of finance on Tuesday issued a notification stating that through a SRO issued January 28, 2021 it was made mandatory for pensioners to ensure verification of biometric in order to receive pension. […]

by admin

Procedure issued for intimating retirement, submission of pension papers

Feb 21

Taxation

Procedure issued for intimating retirement, submission of pension papers

ISLAMABAD: Federal Board of Revenue (FBR) has issued procedure for officers and staff of tax machinery regarding intimation about their superannuation retirement and submission of pension papers. In supersession to Board’s earlier SOPs No. 25(20)MIR-IV/2016 dated 10.12.2020, the FBR said that while submitting the cases of retirement, pension papers and encashment of LPR for officers […]

by admin