Anticipatory Pension Payment – New payment system introduced for pensions
This will highly benefit government employees and pensioners of federal government departments.
A new pension system called ‘Anticipatory Pension Payment (APP)’ is being launched by Auditor General of Pakistan. Through this system, pensioners will get 65% of their money as soon as they retire.
This will highly benefit government employees and pensioners of federal government departments. As per Peshawar AG (Auditor-General) official, this system will be launched on Tuesday (today) across Pakistan, all old pensioners will receive the payment through banks working under DCS (Direct Credit System).
“The credit goes to the incumbent Auditor General of Pakistan Javed Jehangir and Controller General of Accounts Masood Akhtar Sherwani for initiating a computerized system of payment to the pensioners” – Sajid Khan, Additional Accountant General of Pakistan Revenue (AGPR), said.
He also added that the remaining 35% will be given after a proper process and documentation procedure. This new system makes things quite easy. Under this reform, all retired government employees will have to open accounts in commercial banks, and then they will be given pension cards (ATM cards). By using these cards they will be able to withdraw their pension.
As per Mr. Masood Akhtar, the process of pension collection was a difficult one. First, the servants had to wait months to get their pension, and that too after filling numerous documents. Now, 65% will automatically be transferred to their account, barely taking any time.
“The government servants had to wait for months to get their pension for fulfilling their required documents after their retirements but now their 65 percent pension would be directly transferred to their accounts,” he stated.
He also said that the purpose of their pensioner cards is to provide proof of identity and a sense of belonging to federal government departments.
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