Government of Punjab, Finance Department has issued Notification No. FD.SR-III/4-41/2008 dated 17-06-2015 in connection with Re-Fixation of Pension of the Pensioners of Punjab Who Opted for 50% Commutation for Their Full Pension.
According to this Notification, increase in pension of pensioners of Government of Punjab who retired on or before 30-06-2001 and had opted for 50% commutation for their full pension will be re-fixed with effect from 1st July 2015 by converting increases allowed on net pension prior to restoration of commuted value of pension into increases on gross pension. No arrears resulting from such re-fixation of increases in pension pertaining to the period prior to the restoration of commuted value of pension would be admissible.
The arrears, if any, shall be paid to eligible pensioners or their legal heirs as specified in the Punjab Civil Servants Pension Rules within a period not exceeding seven years starting from 1st July 2015, as per the schedule given below:
|S. No||Category of Pensioners||Yearly Amount Allocated for Payment|
|1||Who retired prior to 01-07-1991||Rs. 1.50 billion|
|2||Who retired on or after 01-07-1991 and upto 30-06-1993||Rs. 1.50 billion|
|3||Who retired on or after 01-07-1993 and upto 30-06-1998||Rs. 1.00 billion|
|4||Who retired on or after 01-07-1998 and upto 30-06-2001||Rs. 1.00 billion|
Note: Any yearly savings against a category will be adjusted for budgetary allocation in the subsequent financial year to the next categories.
This dispensation is subject to final outcome of the legal proceedings in the Supreme Court of Pakistan.
Special Thanks to Mr. Muhammad Abdullah for sending the copy of the Notification of Re-Fixation of Pension of the Pensioners of Punjab Who Opted for 50% Commutation for Their Full Pension.