QUETTA: The Balochistan government has introduced a new pension scheme for its future employees, as confirmed by officials from the provincial Finance Department on Sunday.
The announcement, set to be officially made during the upcoming budget presentation, outlines a contributory pension plan for individuals recruited in the next fiscal year.
Under the new scheme, a specified portion of the monthly salary of the employees will be automatically deducted and allocated to their pension funds.
Additionally, these contributions will be matched by the provincial government, effectively doubling the retirement savings for the employees. The funds accumulated in this manner will be accessible to employees upon their retirement.
It’s important to note that this change will only affect future government employees. Those already employed by the government will remain on the existing pension plan.
