QUETTA: The Balochistan government has shifted to the contribution-based pension system, officials said Wednesday.
The move follows similar transitions by Punjab and Khyber Pakhtunkhwa.
In a statement, the Securities and Exchange Commission of Pakistan (SECP) said Balochistan has approved contribution-based pension funds.
The SECP added that the federal and Sindh governments are finalizing their pension funds under the same system.
Officials said the new system will reduce the government’s financial burden. Pension funds will be managed by licensed fund managers.
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The SECP said it will continue to support pension reforms across all provinces.
