Government of the Punjab, Finance Department issued a Notification on 12-07-2024 in connection with Pension Increase 2024 Punjab Pensioners. The pensioners of the Punjab will get this increase in pension with effect from 1st July 2024. The details are as follows:
Pension Increase 2024 Punjab Pensioners
I am directed to state that the Governor of Punjab has been pleased to section an increase @ 15% (fifteen percent) of net pension w.e.f. 01st July 2024, until further orders to all civil pensioners of the Government of the Punjab.
The 15% increase pension as allowed vide Para 12(i) of this Department’s circular letter No.FD-PC-2/2011, 7.5% increase in pension allowed as vide para 1 of this Department’s circular letter No. FD.SR-III-4-259/2015(A), dated 23-07-2015, and a 15% increase in pension 2022 as allowed vide Para 1 of this Department’s circular letter No. FD.SR-III-4-160/2021. Dated 21-08/2022, shall be available to the new pensioners who would retire on or after 01.07.2024.
The 15% increase in pension as mentioned at PAar-1 above will not be admissible to the pensioners who would retire on or after 01.07.2024.
For the purpose of admissible increase in pension sanctioned in this circular letter the term “Net Pension” means “ Pension being drawn” Minus “Medical Allowance”.
The increase will also be admissible on a family pension granted under the Pension-cum-Grantunity Scheme, 1954, Liberalized Pension Rules, 1077, on pension sanctioned under the Punjab Civil Service Pension Rules as well as on the Commensurate Allowance.
If the gross pension sanctioned by the government of Punjab is shared with any Government in accordance with the rules laid down in Part-IV of Appendix-III to the Accounts Code Volumer-I the amount of the increase in pension will be appointed between the Government of Punjab and the other Government concerned on proportionate basis.
The increase in pension sanctioned in his circular letter will be admissible on special Additional Pension allowed in lieu of pre-retirement Orderly Allowaocne.
The benefit of an increase in pension sanctioned in this circular letter will also be admissible to those civil pensioners of the Punjab Government who are residing abroad (other than those residing in India and Bangladesh) who retired on or after 15-08-1947 and are not entitled to or are not in receipt of pension increase under the British Government Pension (Increase) Acts. The payment will be made at the applicable rate of exchange.
Copy Submission
No. & Date Even
A copy is forwarded for information and necessary action to the following offices:
The Accountant General Punjab. Lajore.
All the District Accounts Officers in the Punjab.
The Treasury Officer, Lahore.
The Director General Audit, Lahore.
Director General Audit (District Government). Punjab, Lahore.
Federal Government has already issued the Notification of Increase Pension 2024 Federal Pensioners with effect from 1st July 2024 @ 15% of their net pension. The Punjab Government also increased the pension at the same rates.
