The federal government has been pushed by the International Monetary Fund (IMF) to implement a contributing pension plan for current employees, akin to the one used for new hires.
According to Ministry of Finance sources who spoke to ProPakistani, work is being done to make this adjustment so that all civil servants’ pensions are in line with more sustainable, contribution-based plans.
According to sources, there is currently discussion on raising the official retirement age for civil servants to 55, although no decision has been made as of yet. Resistance to the initiative is thought to exist, particularly within the bureaucracy. A large number of federal servants oppose the move.
Only civil servants would be covered by the proposal to set the retirement age at 55, which would cause many bureaucrats to retire earlier than anticipated.
According to reports, the administration is also taking into account plans to reinstate the Federal Secretariat Allowance, a benefit that has been suspended for more than ten years.
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