Federal budget 2016-17: 10% increase announced for pensioners

ISLAMABAD, Pakistan: The federal government on Friday announced 10 percent increase for all the pensioners of federal government with effect from July 01, 2016.

The Minister for Finance Ishaq Dar in his budget speech in the National Assembly on Friday said that 25 percent increase in net pension will be given to all pensioners of federal government above the age of 85 years.

Ishaq Dar said that Ex-Gratia Pension allowed to pensioners of former East Pakistan has also been increased from Rs2000 to Rs6000 per month Self Pension and from Rs1000 to Rs4500 per month Family Pension.

The finance minister said that for pensioners Pension Scheme, and senior citizens and widows investment in Bahbood Scheme of National Savings, the upper limit of investment is being increased from Rs4 million to Rs5 million.

For the pay and pension relief, an increase of Rs57 billion is estimated, he added.