Pensions to All Pensioners to be Paid Through Banks by March 2016 – Finance Minister Ishaq Dar

Category: News, Pensioners

Civil and Military Pensioners to Receive Pension in their Banks Accounts Soon

Pensions to be paid through Bank accounts by March 2016 – Finance Minister Ishaq Dar

Islamabad (Sunday, October 18, 2015 / Daily Nation Lahore News Report)  – Federal Government has decided that the existing pensioners of federal and Punjab governments would be converted to the Direct Credit System (DCS), as they would receive monthly pension directly through their bank accounts instead of waiting in queues for long hours.

Option Form For Direct Credit of Pension Through Bank Account

Pension Through Banks from March 2016 - Ishaq Dar
Pension Through Banks from March 2016 – Ishaq Dar

All officers in BS-17 and above at the federal government level would be converted to the DCS system by March 31, 2016. Similarly, the pensioners in KP, Sindh, GB, AJK and Balochistan would be asked to institute mandatory Direct Credit System (DCS).
The decision of facilitating pensioners was taken during a meeting of the Finance Minister Ishaq Dar and Auditor General of Pakistan (AGP) Rana Asad Amin.
The Finance Minister in August this year had asked the AGP to come up with a plan to facilitate the pensioners.







How many Pensioners in Pakistan?

According to official figures, there are 2.5 million pensioners in the country. The break-up of 2.5 million showed that pensioners belong to Federal government and provinces are as follows:-

Federal Government = 373,766

Punjab  = 469,519

Sindh = 121,608

Balochistan = 45,544

Khyber Pakhtunkhawa = 130,502

Military Accountant General = 12,00,000

Railways = 109,303

Pakistan Post = 23,754

Majority of the pensioners are receiving pensions queuing up in long lines to receive pensions.
The government wanted to end pensioners queuing up in long lines to receive pensions, as they should receive pensions just like someone receives regular salary from the bank accounts.
The AGP on Friday shared with Finance Minister Initiatives and recommendations envisaged by the Office of AGP for facilitation of pensioners in the country.
It was decided that the Pension Application Form would be simplified in consultation with Ministry of Finance and reduced from the current 16 to two pages.
The meeting observed that simplification of pension form was need of the hour and much desired by the pensioners. Further it was decided that a Full System Integration (PMIS) would be developed between AGPR and Offices of the AGP throughout the country to facilitate payment of pension and have proper data about pensioners.
The Finance Minister on this occasion observed that Ministries and Departments of the Federal Government needed to have a designated Welfare Officer solely to look after the affairs of the pensioners and facilitate them in every possible manner.
The Minister gave direction that all banks in the country should establish counters for pensioners facilitation and initiate the process to covert the pensioners to DCS system.
Decision was also taken in the meeting that the AGP Office would henceforth send quarterly reports to Principal Accounting Officers and Heads of Departments conveying names of officials to be retired from service. This would help them manage the pension matters in an effective and amicable manner.
Ishaq Dar on this occasion appreciated the recommendations and initiatives put forth by the AGP and desired for effective implementation on them. He said that the Ministry of Finance would extend all cooperation required in this regard.
He said that it was resolve of the present government to put an end to pensioners difficulties and take measures that could ensure respectability and comfort for pensioners in receiving their pensions.

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One thought on “Pensions to All Pensioners to be Paid Through Banks by March 2016 – Finance Minister Ishaq Dar

  1. Rana Muhammad Shafi

    Pensioners of gazetted grade were already receiving their pension like pay.All the claim of facilitation is a farce and broad day light lie. It has rather added problems, difficulties and corruption. Stamp paper for RS.170 is being sold while the required was of Rs.20.


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