ISLAMABAD – Federal Finance Minister Ishaq Dar on Saturday announced massive reforms in pension sector to cut burden on national economy which is reeling through worst crisis amid shrinking foreign exchange reserves.
In his windup budget speech, the minister said no any retired officer would be allowed to receive multi pensions. He said there were several examples that government officers were receiving two or three pensions at a time, adding that they should play their role in tough economic times.
The minister also announced to limit the period to receive pensions for dependents after the death of government officials and their spouses.
Previously, the dependents were allowed to draw the pensions for unlimited time following the demise of pensioners and their spouses, he said, adding that now the period had been limited to 10 years.
Meanwhile, the minister announced Rs1,500 raise in EOBI pensions, jacking up them to Rs10,000 from Rs8,500.
Budget 2023-24: Pensioners get massive increment – here s the details
