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The government has introduced significant changes to the pension policy to address rising pension costs. The Finance Ministry issued these changes through three separate memoranda. The amendments aim to ease the financial strain on the federal government while ensuring support for retired employees and their families. The new policy fixes the period for receiving family pension after a retired employee’s death at 10 years. The duration for the Special Family Pension has been extended to 25 years. Additionally, a child of a deceased employee who has a disability will now receive a pension for life. The policy also revises conditions for voluntary retirement. Employees can now opt for early retirement only if they have completed at least 25 years of service. Those who retire early wil...

ISLAMABAD: The Pakistan Institute of Development Economics (PIDE), a state-owned think tank associated with the Planning Commission, has discovered that 115,000 unverified retired Pakistan Railways personnel are receiving Rs35 billion in yearly pension. PIDE stated in a statement published on Sunday. Their investigation found that railway losses totaled Rs144 billion between 2015 and 2020. The PIDE research suggested substantial institutional reforms at Pakistan Railways. It is now one of the country's top 10 loss-making state-owned companies. The losses included an Rs44 billion shortfall in 2020. As well as an Rs36 billion pension burden on Railways for 120,000 workers. The government paid an Rs45 billion subsidy to overcome the shortfall and pension liabiliti...

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Government Announces New Pension Policy Changes

Pakistan Railways paying pension to unverified employees