The Balochistan government has recently announced the introduction of a new pension scheme aimed at benefiting newly recruited employees in the province. According to reports from the Balochistan Treasury Department, this decision was made to provide financial security and stability to the province’s workforce.
The new pension scheme is set to be officially unveiled during the upcoming fiscal year’s provincial budget for 2024-25. Treasury Department officials have outlined the key features of the scheme, emphasizing that it will not impact existing employees but will exclusively apply to those who are newly hired.
Under this scheme, a portion of the employees’ salary will be deducted each month as a contribution towards their pension fund. Simultaneously, the provincial government will also make a matching contribution, ensuring a steady accumulation of funds for the employees’ retirement benefits.
The accumulated pension amount will be disbursed to the employees upon their retirement, providing them with a reliable source of income and financial support during their post-retirement years.
This initiative reflects the Balochistan government’s commitment to enhancing employee welfare and ensuring a secure future for its workforce. It is expected to positively impact the livelihoods of newly recruited employees, offering them peace of mind and financial stability as they progress through their careers.
