SC Fixes Rs 8000 Pension Amount For Retired Bank Employees

SC fixes Rs 8000 pension amount for retired bank employees

The Supreme Court on Tuesday fixed Rs 8000 as pension for retired bank employees

ISLAMABAD, (Pakistan Point News - 13th Feb, 2018 ):The Supreme Court on Tuesday fixed Rs 8000 as pension for retired bank employees. The court also directed banks for five percent annual increase in the pension. A three-member bench of the apex court headed by Chief Justice Mian Saqib Nisar heard the case. During the course of proceedings, a counsel for UBL Bank informed the bench that bank had fixed Rs 5250 as pension amount and five percent annual increase.

The court was also informed that ABL and HBL had also fixed Rs 5250 as pension. The chief justice remarked that the court would enhance minimum amount of pension. The counsel for retired bank employees termed the increase in pension a good step. Advocate Ayesha Hamid informed the court that the government had fixed Rs 15000 as minimum salary. According to formula the pension amount should be Rs 7500. The court fixed the pension Rs 8000 and remarked that it would applicable after court verdict in the case.