LAHORE - The Punjab government has abolished the annual pension increase for retired public servants.
According to a letter written by the Punjab finance secretary to all depart-ments here yesterday, they were directed to take steps to stop the increase in pension. The finance department’s decision, which applies to three types of pensions, was formally communicated through a notification issued on Tuesday.
The directive, signed by Punjab Finance Secretary Mujahid Sherdil, has been sent to all administrative secretaries and department heads, instructing them to implement the new order immediately.
According to the notification, the ban on pension increases will apply to all employees retiring from service starting December 3, 2024.
According to the notification, the pensions of those who seek voluntary re-tirement would also be deducted.
A 59-year-old person who retires soon will have a 2% reduction in his pen-sion, while a 58-year-old person’s pension will be reduced by 4%, a 57-year-old person’s pension will be reduced by 6%, a 56-year-old person’s pension will be reduced by 8% and a 55-year-old person’s pension will be reduced by 10%, the notification added.