Contributory pension scheme for federal employees launched

ISLAMABAD: The federal government has introduced and implemented the Contributory Pension Scheme with effect from July 1, 2024.

The Ministry of Finance on Tuesday said the federal government has decided to introduce Contributory Pension Fund Scheme for all the civil employees of federal government, including civilians paid from Defence Estimates who are appointed on regular basis on or after July 1, 2024.

This scheme would also be applicable to the personnel of Armed Forces appointed on regular basis on or after July 1, 2025.

The rate of contribution from the employees and the federal government is as under: Contribution @ 10pc of basic pay by employees, contribution @ 20pc of basic pay of employees by federal government. This rate of contribution is purely provisional and subject to change.