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Contributory Pension Fund Scheme: Federal government’s new pension policy will apply to which government employees and how will the government benefit from it?

Pension

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  • author, Tanveer Malik
  • position, Journalist

When you hear the word pension, the idea of ​​a certain amount of money to meet your daily expenses after retirement comes to mind and that is why people in Pakistan generally prefer government jobs.

The federal government of Pakistan has recently introduced a new pension scheme to reduce the increasing burden of pension on the public exchequer with each passing year, raising many concerns and questions in the minds of the pensioners. .

The new scheme introduced by the government has been named as ‘Contributory Pension Fund Scheme’ which has been implemented from the beginning of the current financial year i.e. 1st July 2024.

The new pension scheme introduced by the federal government will be applicable to the federal civilian employees recruited in the current financial year and the employees recruited in the armed forces in the next financial year.

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