The Ministry of Overseas Pakistanis and Human Resource Development has announced an increase in pension rates, providing relief to retirees nationwide.
Starting from July 1, 2023, the minimum pension rate has been raised from Rs. 8,500 to Rs. 10,000 per month. Additionally, existing pensioners who received the formula pension by the end of June 2023 will see a 17% boost in their current rates.
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However, this increase will not apply to new formula pension recipients from July 2023 onwards.
Those drawing reduced pensions due to age will also benefit, with adjustments made accordingly, ensuring financial support for retirees.