To reduce the increasing burden of pension on the national exchequer, the government reduced the duration of family pension to 10 years.
According to the notification issued by the Ministry of Finance, the period of special family pension will be 25 years and there will be a penalty for premature retirement.
The federal government has fixed the family pension period of 10 years after the death of retired employees.
According to the Ministry of Finance, a disabled child entitled to the family pension of a deceased retired employee will receive a family pension for life.
For voluntary retirement, 25 years of service will be mandatory, while the pension of employees taking early retirement will be reduced by three percent per annum.
The notification further states that the revisions in pensions have been made to the Pay and Pension Commission 2020 recommendations recommendations.
Family pensions for armed and civil armed forces have also been increased up to 50%, pensions have been reduced from 3% to a maximum of 20%.
