Government of Khyber Pakhtunkhwa, Finance Department issued a Notification on 11-07-2023 in connection with an Increase in Pension 2023 @ 17.5% on Net Pension KPK. The pensioners of the KP will get the revised pension with effect from 1st July 2023. The details are as under:
Increase Pension 2023 @ 17.5% on Net Pension KPK
Government of KPK announces the provision of 17.5% of the increase in net pension. The government of KPK makes a big announcement of sanctioning a 17.5% increase in the net pension of all pensioners.
The provincial government asks the finance department to add an additional value of 17.5% to the net income of all pensioners on a monthly basis. All those employees who perform their duties and fulfill their responsibilities under the supervision of the KPK government before June 2023 are eligible to receive this additional value after their retirement. This is the first time that the government of KPK increase the rate of net pension from previous years. The benefit of this 17.5 increase in net is admissible from 1st July 2023.
General Terms and Conditions for Admissibility of 17.5 Increase Pension
According to the announcement of the KPK Government Following are the main beneficiaries of the 17.5% increase in net pensions.
- The increase in pension is also admissible to those pensioners who are going to retire on or after the first of July 2023.
- According to the notification, Net Pension means a pension without medical allowance. As it says that medical allowance is excluded from the admissibility of an increase in pension.
- The increase is also admissible on family pensions under Pension and Gratuity Scheme 1954.
- It is also admissible on pensions sanctioned under the KPK Civil Servants Pension Rule 1977.
- It is also admissible on the Compassionate Allowance.
- If any of the pensioners is receiving Gross Pension from the Provincial Government and sharing it with the other government. Then the amount of increase in pension is proportionately divided between the Government of KPK and other governments.
- All those pensioners of KPK who are residing abroad are also eligible to receive this increase of 17.5% in pension.
- All those pensioners who are living in India and Bangladesh or retire on or after 15 August 1947 are not entitled to receive this pension increase. Under the British government pension act, these pensioners are not eligible to receive a 17.5% increase in net pension. They will receive the payments at the applicable rate of exchange.
- A 5% increase in net pension is not admissible on special additional pensions.
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