Author Topic: Finance Department issues instructions regarding new pension scheme  (Read 422 times)

sheemar

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Finance Department issues instructions regarding new pension scheme
Chandigarh, December 26, 2017: The Punjab Finance Department has clarified that the pension scheme which was applicable before January 1, 2004 will be implemented in the same manner for the employees recruited between January 1, 2004 to July 8, 2012.

It will be applicable in public sector and autonomous institutions which have implemented the new pension schemes from July 9, 2012.

A spokesman of the Finance Department said that those Public Sector Institutions and autonomous institutions where new defined contribution pension scheme was not implemented for some reason since 1st January, 2004, must implement this scheme from July 9, 2012 as per its instructions.

He said that the correspondence in this regards has been issued to Heads of the Departments and the concerned parties.


 

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