ISLAMABAD: A lump sum increase in pensions of retired government employees is likely to be abolished.
According to the sources of the Ministry of Finance, the pension will be increased by looking at the rate of inflation during 2 years, the pension will be increased by 80% depending on the rate of inflation for 2 years.
Sources have said that during the current fiscal year, the budget has increased the pension of retired employees by 15%, but in the next fiscal year, the target is to control the inflation in single digits, to reduce the amount of pension increasing with the new pension system. I will help.
Sources of the Ministry of Finance say that 1014 billion rupees have been allocated for pensions in the budget of the current financial year, and the rate of inflation will be increased by 80% over two years.
The sources further said that the proposal to increase the pensions in proportion to the inflation has been given by the End Pension Commission 2020, the inflation data will be provided by the central bank to increase the pensions.
