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.
ABU DHUBAI: The United Arab Emirates has prepared a plan to establish a new multi-purpose port…
DUBAI: The International Cricket Council (ICC) is considering plans that could allow the Afghan women's…
ISLAMABAD: Escalating tensions between the United States and Iran have once again unsettled global oil…
ISLAMABAD: Pakistan's energy sector is headed for another high-stakes international commercial arbitration, with Petrosin CNG…
PESHAWAR: Documents have been sought from employees who have completed 5 years of service for…
ISLAMABAD: The Meteorological Department has predicted rain with thundershowers in various cities. According to the…