ISLAMABAD – The federal government ready to reveals its first budget for fiscal year 2024-25 in June with retired employees anticipating a notable increase in pensions due to elevated inflation within the nation
All retired employees of the federal and provincial governments are eagerly waiting for the budget as every year an increase is announced in their pensions.
The pension is given to all retired officials, who have served at permanent posts, so they can spend their life without any tension of income. The pension amount is fixed in line with the salary package of the government employees.
Both federal and provincial governments used to announce increment in pensions of their retired employees in budget every year.
Expected Increase in Government Employee Pensions Starting July 2024
In the upcoming budget for 2024-25, governments are anticipated to increase the pensions of retired employees by 10 percent. However, the final call will be made by the governments after assessing the recommendations provided by the finance ministry.
The increment, if approved, will come into effect from July 2024.
