Federal govt decides to close multi-pension system immediately

ISLAMABAD (92 News) - The federal government has decided to close the multi-pension system.

Announcing the pension reforms in the National Assembly on Saturday, Finance Minister Ishaq Dar said that a government can get pension from only one institution.

He said that the family of a deceased pensioner will be able to get pension for only 10 years.

"A government officer will be able to get pension from only one institution. We know about the officers who get pension from three institutions," he added.

Ishaq Dar said that the government had accepted the taxes of Rs 215 billion with the International Monetary Fund (IMF).

"We will make the agreement public after finalizing it with the IMF. After the talks with the IMF, we have decided to decrease the expenditures by Rs85 billion. However, the decrease will not be applicable to development funds, salaries and pensions," he maintained.