ISLAMABAD: The Federal Government has introduced a Contributory Pension Fund Scheme for all civil servants of the Federal Government including Civilians paid from Defense Estimates who are appointed on permanent basis on or after 1st July 2024.
In an office memorandum issued on Tuesday, the finance division added that the scheme will also apply to those armed forces who are deployed on a permanent basis on or after July 1, 2025.
Under the new scheme, the rate of contribution from the employees and the Federal Government will be as follows:
The Finance Ministry further clarified that this rate of contribution is provisional and subject to change.
It may be mentioned here that in June, the Economic Coordination Committee (ECC) of the Cabinet gave in-principle approval to the Finance Division for setting up the Pension Fund.
ISLAMABAD: The Pakistan Telecommunication Authority (PTA) has issued a warning for mobile phone users against…
ISLAMABAD: Iranian President Dr. Masoud Peshkeskian met President Asif Ali Zardari and Prime Minister Shehbaz…
ISLAMABAD: The government has approved a reduction in advance tax rates on property buyers and…
RAWALPINDI: Chief of Army Staff, Field Marshal Syed Asim Munir, met with Iranian President Masoud…
LAHORE: Following the reduction of petroleum prices, solar panels and batteries witnessed a sharp fall…
ISLAMABAD: State Bank of Pakistan (SBP) has declared a two-day public holiday for Ashura (9th &…