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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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Finance Division Notifies Increase in Pension by 17.50%
In a significant development, the Finance Division has issued a notification on Wednesday, July 5, 2023, announcing a substantial increase in the pension of government employees.
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Pakistan Announces Pension Reforms; Abolishes Multiple Pensions
ISLAMABAD: In an effort to address the growing strain on the national budget caused by pension obligations, Finance Minister of Pakistan Ishaq Dar Saturday announced a series of pension reforms, including the establishment of a Pension Fund and the abolishment of multiple pensions for officers of grade 17 and above.
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