LAHORE, Feb 23 (APP): Important amendments have been made in the pension rules of government employees in Punjab. The Punjab Finance Department has issued a regular notification.
The government has imposed a new condition for voluntary retirement. Now, along with 25 years of qualifying service, an age limit of 55 years is also mandatory. Voluntary retirement will be on the principle of “25 years of service or 55 years of age”, whichever is later.
In cases of forced retirement, pension matters will be on new rules after 20 years of qualifying service. Changes have also been made in the provisions related to pension in cases of corruption or misconduct. The condition of completing qualifying service is included in the pension rules.
According to the Finance Department, the amendments aim to bring transparency and discipline to the pension system.
The notification clearly states that the new amendments will come into effect immediately.