Balochistan govt unveils new pension scheme for newly hired employees

The Balochistan government has recently announced the introduction of a new pension scheme aimed at benefiting newly recruited employees in the province. According to reports from the Balochistan Treasury Department, this decision was made to provide financial security and stability to the province’s workforce.

According to media reports, Under the program, a percentage of the employee’s monthly wage is withdrawn and deposited into their pension. The provincial government will then match the donation, resulting in a larger retirement nest account. This cumulative amount will be distributed to the employee at retirement.

Importantly, the new program is only applicable to future recruits. Existing government employees will continue to receive pensions under the current system. The initiative will be officially announced during the introduction of the provincial budget for the following fiscal year.