(Web Desk) Newly recruited employees in Sindh government departments will not get pension and gratuity on retirement.
According to the details, the Sindh Cabinet approved the implementation of the Defined Contributor Pension Scheme 2024, which will start from July 1, 2024, under which the government and employees will contribute at an interim rate of 12 percent and 10 percent respectively.
The Sindh Cabinet approved the inclusion of a new sub-section in the Sindh Civil Servants Act, 1973.
According to the proposed amendment, persons who are appointed or permanent as Government servants after the commencement of the Sindh Civil Servants (Amendment) Act, 2024, shall be treated as civil servants, except for pension and gratuity, instead, they shall be a defined will participate in the contribution pension scheme.
In lieu of pension and gratuity, the government servant will get the amount credited to his account by the government, along with the contribution made by him.
Also read: Meeting presided over by Maryam Nawaz, approval of many important recruitments including Assistant Controller
Now the newly recruited provincial employees will be part of the defined pension scheme under which the employees will contribute 10% of their salary while the government will contribute 12% and this amount will be added to the employee’s account. This fund can be received by the employee himself after retirement and his heirs in case of death.
2024-09-16 22:17:24