ISLAMABAD: The federal government has moved to operationalise its Defined Contribution (DC) Pension Fund Scheme-2024, directing all ministries and divisions to identify eligible employees, update their records, and nominate focal persons for implementation within 15 days.
The Finance Division (FD), in an Office Memorandum, stated that the Defined Contribution Pension Fund Scheme had entered its operational phase, effective July 1, 2024.
Under the directions, all federal ministries and divisions have been asked to nominate a focal person at BS-17 or above to coordinate matters related to the implementation of the scheme and to share the official’s details with the Finance Division and the Accountant General Pakistan Revenues (AGPR).
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The ministries and divisions have also been directed to designate offices or sections responsible for verification, certification and maintenance of employee data required for implementation of the pension scheme.
A key directive requires ministries and divisions to prepare and verify lists of employees appointed regularly with effect from July 1, 2024, who fall within the ambit of the DC pension scheme.
Their particulars and credentials are to be duly updated with the AGPR within 15 days of receipt of the Finance Division’s memorandum.
The Finance Division further directed ministries and divisions to ensure that the same exercise is carried out across all departments, subordinate offices and other entities under their administrative control whose employees are covered by the scheme.
The Human Resource Management Wing of the Finance Division has separately been tasked with implementing the requirements for departments, subordinate offices and other entities under the administrative control of the Finance Division.
The memorandum said the scheme’s rules require implementation through the Accountant General, Finance Division, and all ministries, divisions, departments and subordinate offices of the federal government. The rules also require all concerned ministries and divisions to extend full cooperation and assistance to the AGPR and Finance Division for implementation and monitoring of the scheme. The Finance Division has also been empowered under Rule 6 of the DC Pension Fund Scheme Rules to issue guidelines and instructions for carrying out the purposes of the rules.
The Controller General of Accounts (CGA) has been asked to coordinate with the AGPR and submit to the Finance Division an updated consolidated list of employees registered under the Federal Government Defined Contribution Pension Fund Scheme.
The consolidated list will contain details by ministry/division/department and Basic Pay Scale (BPS), following verification of employee data by the respective ministries, divisions and departments.
The Finance Division emphasised that the matter should be accorded priority to ensure the smooth operationalisation of the pension scheme.
Copyright Business Recorder, 2026
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