New pention policy in pakistan especially in punjab and Effects on Govt Employees ? In recent years, the Government of Punjab has introduced significant reforms to its pension policies, aiming to ensure fiscal sustainability and streamline the pension process for government employees. Key Changes in Pension Policy: 1. Introduction of the Contributory Pension Fund Scheme: Effective from September 2024, the Federal Government announced the implementation of a Contributory Pension Fund Scheme for all new civil employees. Under this scheme, both the government and the employee contribute to the pension fund, marking a shift from the traditional defined benefit system to a defined contribution model. 2. Amendments to the Punjab Civil Servants Act: The Punjab Civil Servants (Amendment) Bill 2024 introduced provisions for the Defined Contribution Pension Scheme, stipulating that both the government and civil servants will contribute to individual pension accounts. 3. Cess...