From Abid Usman
LAHORE: The Punjab Finance Department announced amendments to pension regulations, introducing reductions for individuals opting for early retirement.
As per the new notification, pensions will be reduced based on the retiree’s age at the time of voluntary retirement.
A 59-year-old retiree will face a 2% reduction, while those retiring at 58 years will see a 4% cut.
The reductions increase further for younger retirees, with pensions for 57-year-olds reduced by 6%, 56-year-olds by 8%, and 55-year-olds by 10%. The amendments aim to regulate early retirement benefits and ensure fiscal sustainability. The notification underscores the government’s focus on aligning pension policies with long-term economic goals.
