Pakistan Assessment of Civil Service Pensions
This report was prepared at the request in mid-2018 of the Secretaries of Finance for the Pakistan Federal Ministry of Finance, the Sindh Ministry of Finance and Punjab Ministry of Finance. Missions visited Pakistan in January and November 2018, th...
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| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/850151591844913970/Pakistan-Assessment-of-Civil-Service-Pensions http://hdl.handle.net/10986/33910 |
| Summary: | This report was prepared at the request
in mid-2018 of the Secretaries of Finance for the Pakistan
Federal Ministry of Finance, the Sindh Ministry of Finance
and Punjab Ministry of Finance. Missions visited Pakistan in
January and November 2018, the latter which included a
week-long training program in the use of the Pensions Reform
Options Simulation Toolkit (PROST). Policy discussions were
held about reform options in January 2019 during a workshop
on South Asia Civil Service Pension system in Bangkok,
Thailand. The initial findings of the PROST projections were
discussed with key counterparts in Islamabad, Karachi and
Lahore in October, 2019. This report evaluates the current
civil service pension scheme and suggests options to
consider for pension policy and parameter reforms to improve
sustainability, equity and predictability. Actuarial
projections have been employed for the civil servant schemes
for the Federal civil servants, and for civil servants in
Punjab and Sindh. We have not modeled the schemes for other
provinces, for Autonomous Authorities or for Uniformed
Forces. This report is organized as follows: section two
reviews the design, parameters and coverage of the civil
servant pension schemes in Pakistan; section three evaluates
the key challenges presented in these schemes; section four
suggests options for parametric and structural reforms; and
section five concludes. |
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