Pakistan considers lowering retirement age for government workers to 55 to cut pension costs.

Pakistan is considering reducing the retirement age for government workers from 60 to 55, suggested by the IMF, to cut the growing pension costs. This could save around Rs 50 billion annually, but critics warn it might increase upfront costs due to early severance packages. The current pension bill is over Rs 1 trillion annually, with concerns about managing these rising expenses.

December 02, 2024
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