Punjab Ends Annual Pension Increase for Govt Employees. This decision will take effect for all employees retiring from December 2, 2024, onward.

Cancellation of the Annual Increment in Three Types of Pensions

The Punjab Finance Department has issued a notification announcing the cancellation of the annual increment in three types of pensions for the government employees.

Read More: New Pension Scheme in Pakistan

This will apply to all the employees retiring from 2nd December 2024 onwards.

Notification Date Details

The Finance Secretary, Punjab, Mujahid Sherdil has issued a formal notification to all the administrative secretaries and department heads regarding a direction to drop this increment pension under the following categories:

• Para 1 of the 2015 Notification: An annual increase provided under this provision is abolished.
• Para 2 of the 2011 Notification: An increment provided under this provision is now ceased
• Para 1 of the 2022 Letter: An increase in the provision of pension increases has been halted.
  

It intents to rationalise the pensions policies of the province and comes into force directly on December 2, 2024.

Instructions to Departments: Punjab Ends Annual Pension Increase for Govt Employees

The Finance Secretary has asked all the departments and institutions under the government to align with the revised pension policy.

All kind of documentary steps must be generated to make pension increase neutral by the revised notification.

Impact on Retired Employees

This policy has implications for retiring government employees from December 2, 2024, onward. Those retired before this date would be governed by the new rules for pensions.

Conclusion

The decision of the Punjab government is a significant change in its pension policy, affecting future retirees. Departments have been asked to follow the new rules immediately to avoid discrepancies.

For more updates on pension policies and government notifications, stay tuned.

Punjab Ends Annual Pension Increase for Govt Employees. This decision will take effect for all employees retiring from December 2, 2024, onward.

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