Overview

• The FGDC Pension Fund Scheme Rules 2024 set a 22% total contribution, with employees paying 10% and the government 12%, replacing an earlier plan that proposed a 20% government share.
• The rules cover civil servants hired on or after July 1, 2024, while extension to armed forces is expected from July 1, 2025, pending formal approval.
• Pre-retirement withdrawals are prohibited; retirees may take up to 25% as a lump sum, with the balance kept invested until 20 years of contributions or age 80.
• Authorized pension fund managers will run the investments, the Accountant General will handle deposits and records, and an interim NBFC will be set up for oversight.
• The government has budgeted Rs10 billion for FY2024–25 and Rs4.3 billion for FY2025–26 as federal pension spending is projected at about Rs1.05 trillion this year.