Early retirees to face pension cuts

The Punjab Finance Department has announced amendments to the pension regulations, announcing a reduction for those opting for early retirement. According to the new notification, the pension will be reduced based on the age of the retirees at the time of voluntary retirement. 2 percent decline, while retirees at age 58 will see a 4 percent decline. For early retirees, pension for persons aged 57 yearswith a decline of 6%, 8% for 56-year-olds, and 10% for 55-year-olds. The notification focuses on aligning the government’s pension policies with long-term economic goals.