Pakistan News

    Calculation Of Pension In Pakistan

  • New formula for drawback calculation irks Prgmea

    LAHORE: The Pakistan Ready­­made Garment Manu­facturers and Exporters Association (Prgmea) on Monday criticised the State Bank of Pakistan for creating panic among exporters by revising the calculation method for Drawback of Local Taxes and Levies (DLTL) Scheme...

    “Revising the exchange rate of calculation for DLTL disbursement is giving an impression that the government is not serious about payments,” the release added...

  • EOBI pension

    THIS refers to Ishaq Dar’s announcement about the increase in Employees’ Old-Age Benefits Institution (EOBI) pension from Rs3,600 to Rs5,250 effective April last...

    I am thankful, but this promise of raising the EOBI pension to Rs6,000 was already promised by the government in 2013 when it came to power and we, the retired employees of private institutions, have been waiting patiently for this announcement...

  • Notification of increase in special additional pension withheld

    ISLAMABAD: The finance ministry has withheld a notification of an increase in special additional pension and certain allowances for pensioners announced by Finance Minister Ishaq Dar in his budget speech...

    He had announced an increase in orderly allowance and special additional pension of junior government officials from Rs7,000 per month to Rs12,000 per month in addition to overall 7...

  • Pension funds making progress

    Although a late entrant in the country’s financial system, pension funds are making solid progress in capital markets...

    The old-age pension system in Pakistan can be divided in two categories: the government-run pension schemes for public sector employees and private pension fund industry for the corporate sector...

  • Increase in pension

    Take a look: EOBI raises minimum pension to Rs5,250Delays notwithstanding, the step is good news for a segment of the population whose lifelong contribution to the country tends to be largely forgotten by policymakers...

  • World Bank’s pension investments clash with principles

    8 billion staff pension fund in companies in industries such as coal and tobacco, holdings that clash with the development institution’s own calls for ethical and low-carbon investing...

    The note expressed concern about the pension and gave details of the holdings, questioning why the bank does not use socially responsible alternatives...

  • Pension not enough

    Some proof of how Pakistan treats them is available in the queues of pensioners at the bank every month, and in the host of complaints the pensioners always have very valid reasons to make...

    They routinely report being denied payment of pension on time by the designated bank, the National Bank of Pakistan...

  • EOBI raises minimum pension to Rs5,250

    ISLAMABAD: The government has increased the minimum pension paid by the Employees Old-Age Benefit Institution (EOBI) by 46 per cent from Rs3,600 to Rs5,250 per month...

    “EOBI pensioners will get the enhanced pension on May 1,” Finance Minister Ishaq Dar announced on Saturday...

  • Upgradation of posts, pay and pension will cost Rs20bn

    PESHAWAR: Khyber Pakhtunkhwa finance minister Muzaffar Said on Tuesday said the one-step upgradation of BPS 1-15 government posts, increase in salary and pension, and other similar incentives announced in the budget 2015-16 would cost Rs20 billion...

    The estimated pay and pension allocations makes up 71 percent of the total expenditure for financial year 2015-16...

  • EOBI to disburse pension through National Bank

    KARACHI: The Emp­loyees Old-Age Benefit Insti­tution (EOBI) has decided to transfer the private sector employees’ pension from Easypaisa to National Bank of Pakistan (NBP)...

    EOBI has advised all the pensioners to approach the nearest branch of NBP along with their pension book and National Identity Card...

  • Draft amendments to pension rules notified

    ISLAMABAD: The Secu­­ri­­ties and Exchange Com­mis­­sion of Pakistan (SECP) has notified draft amendments to the Voluntary Pension System Rules 2005 to obtain public opinion...

    The amended rules were issued in 2012 and the fresh amendments are being sought by the SECP aimed at requiring pension fund managers to remind participants about the approaching retirement age and inform them about the options available to them on retirement...

  • Four PSIC men held in pension scam

    LAHORE: The National Accountability Bureau (NAB) has arrested four employees of the Punjab Small Industries Corporation (PSIC) in a pension scam worth Rs80 million...

    According to a spokesman, All Pakistan Clerk Association president Nasir Ali Dogar, Abdul Sattar, Imran Ali and Iftikhar Ali were arrested on charges of corruption, fraud, misuse of authority, embezzlement of funds and inflicting loss to the national exchequer...

  • Retired officials getting pension of ‘grade-23’

    ISLAMABAD: The Senate Standing Committee on Finance took up the issue of ‘ghost pensioners’ on Monday and was surprised to learn that a large number of retired officials were receiving pension as ‘grade-23 employees’...

    Officials of the Accountant General Pakistan Revenue (AGPR) and finance ministry briefed the committee on the issue...

  • CJ directs timely processing of pension cases

    ISLAMABAD: Chief Justice of Pakistan Anwar Zaheer Jamali on Thursday ordered the Human Rights Cell (HRC) of the Supreme Court to ensure proper and timely compliance with apex court’s directions by public functionaries...

    The directive to the HRC’s director general was issued after it was noted that despite specific directions by the court in the human rights case of 2009 regarding timely processing of pension cases, the court was...

  • More
Back to top