Minister of State for Finance and Railways Bilal Azhar Kayani has said the government is committed to ensure fiscal sustainability and promote economic progress through key financial reforms. Talking to a private news channel, he said pension reforms are being introduced to strengthen the country’s fiscal stability and enhance retirement security for public servants.
The system will apply to employees inducted from the first of July last year onward. Bilal Kayani said that under the revised structure, a Federal Government Pension Management Company will be established, along with a Pension Reserve Fund, to ensure transparent and well-governed investment of pension contributions.
