ISLAMABAD:
A proposal to set the retirement age at 55 has been presented to the Prime Minister Shehbaz Sharif. Sources from the Ministry of Finance have stated that the Prime Minister has been briefed on the proposal, but no decision has been confirmed yet.
The proposal is still in its initial stage, and if adopted, it would apply exclusively to civilian employees.
According to sources, the PM did not receive a positive response during the meeting regarding setting the retirement age at 55. If the age limit is enforced, several bureaucrats could retire, as many in the bureaucracy are not in favor of retiring at 55.
On the other hand, sources from the Ministry of Finance revealed that the International Monetary Fund (IMF) has demanded that serving employees be included in the country’s contribution pension scheme.
The IMF has urged that current employees be made part of the scheme, similar to new recruits. In response to the IMF’s request, the Ministry of Finance is working on including serving employees in the contributory pension scheme.
Additionally, the Ministry of Finance is also considering proposals to restore the federal secretariat allowance, which has been frozen for over a decade.
