PIA declares up to 30 percent raise in pension

Increase in the pension of existing pensioners of Pakistan International Airlines (PIA) has sent a wave of jubilation among the retired and widows of national carrier employees. The increase will be from 10 to 30 percent in the monthly pension. The issue had been pending since last several years and what a democratically elected government could not do has been done by an interim setup.
The Society of former PIA Officers and PIA Retired Employees Association have in a statement issued here on Saturday thanked the PIA management and serving association and unions of PIA for their support to the cause of retired community of PIA. Through a circular issued here on April 19 by policies and procedures section, the management announced increase in monthly pension of PIA pensioners with effect from April 1, as approved by the PIA Board of Directors in its 346th meeting held here on January 21, in accordance with the laid down conditions stated below:
For those drawing monthly pension up to Rs 5,000, the increase in pension will be 30 percent, more than Rs 5,000 and up to Rs 10,000, 25 percent, more than Rs 10,000 and up to Rs 15,000, 20 percent, more than Rs 15,000 and up to Rs 20,000, 15 percent, and more than Rs 20,000 the increase will be 10 percent.
The increase will, however, be subject to following conditions:
---- Increase in pension shall be designed in a manner whereby nominal increase in succeeding tier should be at least equal to or more than the maximum nominal increase in pension of preceding tier.
---- Financial impact for increase in pension w.e.f. April 1 shall not exceed Rs 150 million per annum.
---- Widows of deceased employees who are being paid 50 percent pension for life-time shall be allowed increase in pension on the amount of 50 percent pension, as applicable and specified above. All other conditions, provisions governing entitlement, calculation, payment of pension etc, shall remain unchanged, and all relevant orders, circulars and provisions in the rules, would stand amended to this extent only.