
In a move aimed at financially supporting federal employees retiring on July 1 and later, the federal government has approved a relief package, which grants all federal pensioners equal increases in their pensions.
The Ministry of Finance has issued an official memorandum, detailing the recently approved pension adjustments.
As outlined in the memo, the hikes and payments would apply specifically to those retiring from July 1 2025 onwards.
The memorandum also mentioned that all federal pensioners will benefit from equal pension raises.
It was also learned that five previous ad-hoc relief allowances granted between 2011 and 2024 will now be incorporated into the pension calculations, totalling up to 70%.
It has been clarified that the baseline pension for government employees will now be regarded as their net pension.
The finance ministry explained that these five ad-hoc reliefs will be included after deducting the lump-sum portion from the gross pension.
Ad-hoc reliefs of 15% were granted in 2011, 7.5% in 2015, 15% in 2022, 17.5% in 2023, and another 15% in 2024.
These increases will be reflected in the net pensions of federal government employees.