Rs761bn allocated for pensions

ISLAMABAD: The government has allocated Rs761 billion for pensions of federal government employees for fiscal year 2023-24, out of which Rs563 billion (73.98 percent) would go to retired armed forces personnel and Rs188 billion (24.70 percent) to civilians.The budget allocation for the pension of retired government employees (civilian and armed forces) has been increased from Rs609 billion in 2022-23 to Rs761 billion for the budget year 2023-24. The total amount allocated for retired civilian employees of the federal government is Rs188 billion in the current fiscal year whereas during the last fiscal year 2022-23, Rs162.62 billion were allocated for the same purpose. The budget allocation for the pensions of retired armed forces personnel for fiscal year 2022-23 was Rs446.37 billion, which has been increased to Rs563 billion for 2023-24 financial year.