ISLAMABAD: Pensions are KP’s largest budget challenge, from less than Rs 1 Billion in 2005 to 83 billion today, a 9500% increase.
KP’s pension bill alone would rise from 80 billion to 507 billion within this decade – almost half (48%) of the budget.
KP has led the way in Pakistan in tackling this issue; increasing early retirement age to 55; reducing the unbelievably bloated pension hierarchy; stopping beneficiaries from taking multiple pensions & active employees from taking a pension; and repurposing the pension fund.
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