Govt mulls reducing retirement age to 55
The new policy will be implemented after approval from federal cabinet.
ISLAMABAD (Dunya news) – Federal Government is considering reducing the age of retirement to 55 for the government employees and it is in the process of consultations.
According to details, to formulation of new policy for all government employees is underway and three separate committees have been formed to look into the proposal for officers of grade 1 to 16, 17 to 19 and 20 to 22 respectively.
Moreover, in order to ease the burden on the national exchequer and reduce annual pension bill, the governement is considering to forego monthly pensions by paying retiring employees a lump sum and gratuities only.
The new policy will be implemented after approval from federal cabinet.
