Government of Pakistan, Ministry of Overseas Pakistanis and Human Resource Development issued a notification on 17-08-2023 in connection with the Increase in Minimum Pension 2023. As per the Notification the Government increased the minimum pension from Rs. 8500/- per month to Rs. 10,000/- per month. The government increases pensions under Subsection (a) of Section 2 of the Employee’s Old Age Benefits Act, 1976. Here are more details:-
Increase in Minimum Pension 2023
Federal Government Increases Pension Along with 17% Increase
It is good news for Pensioners as the Government of Pakistan has issued a notification regarding the increase in Pensions. The government of Pakistan enhances the pension under subsection (a) of Section 2 of the Employee’s Old Age Benefits Act 1976. The government increased pensions for pensioners by 17% in July. Now, under the current economic circumstances, it has decided to increase pension along with 17% for the existing pensioners. The details of the increase in Pension are as follows:-
|Previous Amount of Pension
|Amount of Pension including after increase
It is a good decision by the government of Pakistan. The increase in Pension for existing pensioners will allow them to meet up their needs. The enhancement in the pension is very handy in these severe economic situations.
Before this Finance Division issued a Notification regarding the Pension Increase 2023 Federal Pensioners. The Federal pensioners and provincial pensioners now have an increase in pension @ 17.5% of their existing net pension.