The Punjab Finance Department has announced the termination of the annual increment in three types of pensions for government employees. This decision will take effect for all employees retiring from December 2, 2024, onward.
Notification Details
Finance Secretary Mujahid Sherdil issued a formal notification to all administrative secretaries and department heads. According to the notification, the pension increments under the following categories have been discontinued:
- Paragraph 1 of the 2015 Notification: Annual increase granted under this clause has been abolished.
- Paragraph 2 of the 2011 Notification: Increment offered under this clause is now terminated.
- Paragraph 1 of the 2022 Letter: Pension increases outlined in this clause have been stopped.
The decision aims to streamline pension policies across the province, with immediate implementation starting December 2, 2024.
Instructions to Departments
The Finance Secretary has directed all government departments and institutions to ensure compliance with the new pension policy. Necessary documentary measures must be taken to halt pension increases as per the updated notification.
Implications for Retiring Employees
This policy change affects all government employees retiring from December 2, 2024, onwards. Those who retired before this date will continue to receive their pensions under the previous rules.
Conclusion
The Punjab government’s decision marks a significant change in its pension policy, impacting future retirees. Departments have been urged to adhere to the new rules promptly to avoid discrepancies.
For more updates on pension policies and government notifications, stay tuned.
