Today Infoghar Team will share the latest news about a salary increase. A proposed 20% increase in salaries of government employees is expected in the upcoming budget 2021-22. The federal government has started working on a budget and considering the different proposals in pay and pension increase. In this connection including a 15 to 20 percent increase expected in the budget. An ad-hoc relief in salaries and pensions of government employees will be given. News is also circulating freezing of basic pay of employees after 25 years. According to the sources in the Ministry of Finance said that the salaries of employees of various ministries, divisions, and departments vary from department to department.
Pay and Pension Commission latest News
In this regard, a private company with an international reputation has hired to bridge the scale gap and rationalize pay and pension reforms, which will begin operations on Monday. The company will review the entire pay and pension structure in the country. The said firm will submit a comprehensive report to the government after conducting a wide-ranging study in accordance with international standards. Moreover, private companies will need at least six months to complete a study on pay and pension reforms. This will send recommendations of sub-groups set up by the Pay and Pension Commission and a private firm. The pay and pension committee proposes short-term, medium-term, and long-term plans for reforms in the pay and pension system.
Read More:- Disparity Reduction Allowance Federal Govt
Latest News About Salary Increase In Pakistan
We will inform you about alary Increase latest news Today. The federal budget for the next financial year 2021-22 expected on 11 June 2021. A proposal for temporary relief of 15 to 20 percent in the salaries of government employees is under consideration in the next budget. Sources said that the increase in salaries of government employees was due to disparity among government employees. Sources said that the increase in salaries of government employees was due to disparity among government employees. The departments and government institutions which are already getting higher salaries in the next budget minimal pay will increase.
Pension Increase 2021 latest News
Sources say that all the attention of the government will be on the pension bills. The pension bill will minimize. Similarly, it is a proposal to introduce a contributory pension system for newly recruited employees in the public sector. According to sources, the World Bank is also saying that government should introduce a contributory pension system.
New Pension Scheme
In this context, a separate pension contributory fund for this system is also under consideration. For this purpose, World Bank may also provide financial assistance. Laws regarding salaries and pensions of government employees are also in question. There is a possibility of dissolution proposals under which it is proposed to amend the laws and freeze the basic salary of government employees for pension for a period of 25 years of service. Another proposal has put forward by the government under which after 25 years of service, the basic salary of an employee will not increase even if he has 40 years of service. The Civil servant will get retirement and pension amount only on the basis of 25 years of service.