The Finance Division has introduced new penalties for voluntary retirement based on recommendations from the Pay and Pension Commission 2020.
Penalties for Voluntary Retirement:
- Eligibility for Retirement:
- Federal Government employees can retire after 25 years of service.
- Reduction in Pension:
- Employees opting for voluntary retirement will face a reduction of 3% per year in their gross pension.
- This reduction is calculated based on the number of months from retirement to the superannuation date.
- The maximum reduction cap is 20%.
- Special Cases for Armed Forces:
- The penalties apply only if retirement is sought before reaching the prescribed rank service.
Implementation:
- These changes are effective immediately and will update existing instructions.
Contact:
Abdul Waheed Memon
Deputy Secretary (R-III)
Phone: 051-9245839
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