The federal government has begun implementing a new pension system for government employees following the introduction of the Defined Contribution Pension Fund Scheme 2024.
The rules for the Defined Contribution Pension Fund Scheme 2024 have been issued, bringing the scheme into its operational phase.
According to official directives, all federal ministries, divisions and departments have been instructed to implement the new pension fund scheme and prepare lists of employees covered under it.
The ministries have also been directed to update employees’ data and relevant records with the Accountant General Pakistan Revenues (AGPR) within 15 days.
Each ministry and division has been instructed to appoint an officer of Grade 17 or above as a focal person to oversee matters related to the pension fund scheme.
The focal persons will monitor implementation and coordinate with relevant departments to ensure the new pension system is implemented effectively.
The Human Resources Wing of the Ministry of Finance has been assigned responsibility for ensuring implementation of the scheme, while the Controller General of Accounts has been directed to work with AGPR to compile comprehensive employee data.
Under the new system, employee information will be compiled according to ministry, division, department and grade.
