In a significant move aimed at providing financial relief to public sector employees and retirees, the federal government has proposed a 10% increase in the salary of government employees and a 7% hike in pensions in the Budget for the fiscal year 2025-26.
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ICMAP Recommends 10% Tax on High-Income Pensioners
Karachi, April 19, 2025 – The Institute of Cost and Management Accountants of Pakistan (ICMAP) has put forward a significant tax reform proposal, calling for the imposition of a 10% tax on high-income pensioners as part of its budget recommendations for the fiscal year 2025-26.
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Federal Employees Get Salary, Pension on March 27 for Eid ul Fitr
Islamabad, March 24, 2025 – The federal government has officially confirmed that salary and pension payments for March 2025 will be released on March 27, ahead of the Eid ul Fitr celebrations. This decision aims to provide financial ease to government employees and pensioners so they can prepare for the festival without monetary stress.
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Aurangzeb Rules Out Salary, Pension Hike in Upcoming Budget
Islamabad – Finance Minister Muhammad Aurangzeb on Monday categorically stated that the federal government has no plans to increase salaries and pensions of government employees in the upcoming fiscal year.
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New Procedure for Pension Calculation Notified in Pakistan
The government of Pakistan has introduced procedure for pension calculations, implementing new conditions and limitations that will impact retirees and future pensioners.
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Pensioners avail Rs 43.61 billion income tax exemption: FBR
Karachi, February 5, 2025 – Pensioners in Pakistan have benefitted from a tax exemption amounting to Rs 43.61 billion on their income within a year, according to official documents.
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Finance Division Clarifies Family Pension Eligibility
The Finance Division has issued an official clarification regarding the eligibility criteria for family pensions, specifically addressing concerns about pensions for children and other family members.
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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 fairness, sustainability, and financial stability within the nation’s pension system.
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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 the system.
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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.
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