Pension of government servants with focus on Incentives...

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PENSION OF GOVERNMENT SERVANTS PENSION OF GOVERNMENT SERVANTS WITH FOCUS ON INCENTIVES WITH FOCUS ON INCENTIVES –– PAY & PAY & PENSION COMMITTEE REPORT, 2004PENSION COMMITTEE REPORT, 2004

PRESENTED PRESENTED BY BY

BY MR. MUHAMMAD RAZIQ,BY MR. MUHAMMAD RAZIQ,SENIOR JOINT SECRETARY SENIOR JOINT SECRETARY

(REGULATIONS) (REGULATIONS) FINANCE DIVISION FINANCE DIVISION

GOVERNMENT OF PAKISTANGOVERNMENT OF PAKISTAN

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Pension Reforms - Basic ConceptArticle 38(c) of the Constitution of the Islamic Republic

of Pakistan stipulates that -

the State shall provide for all persons employed in the service of Pakistan or otherwise, social security by compulsory social insurance or other means.

Entitlement for pension & gratuity has been provided in Section 19 of the Civil Servants Act, 1973. That Section is reproduced as under:-

Pension & Gratuity.- (1) On retirement from service, a civil servant shall be entitled to receive such pension or gratuity as may be prescribed.

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2. The present Pension Scheme was introduced in 1954 in the form of pension-cum-gratuity scheme, 1954 as amended from time to time. Its salient features are

Retiring age 60 years.Voluntary retirement on completion of 25 year

service.Pension rate (70 % of the last pay drawn) on

completion of 30 years service. If service is less than 30 years, proportionate

reduction is made according to the Table – Next Page.

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PENSION TABLE

SCALE OF PENSION EXPRESSED AS FRACTIONS OF

AVERAGE EMOLUMENTS

COMPLETED YEARS OF QUALIFYING SERVICE

140/30020133/30019126/30018119/30017112/30016105/3001598/3001491/3001384/3001277/3001170/30010

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210/30030 and above203/30029196/30028189/30027182/30026175/30025168/30024161/30023154/30022147/30021

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Commutation is restricted to 35% of gross pension whereas the remaining is paid in the form of net pension.

COMMUTATION TABLENo. of years Purchased

Age next BirthdayNo. of Years PurchasedAge next Birthday

20 40.5043 51 17.652621 39.7341 52 17.005022 38.9653 53 16.371023 38.1974 54 15.751724 37.4307 55 15.147825 36.6651 56 14.560226 35.9006 57 13.988827 35.1372 58 13.434028 34.3750 59 12.895329 33.6143 60 12.371930 32.8071 61 11.863231 32.0974 62 11.368432 31.3412 63 10.8872

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COMMUTATION TABLE

33 30.5869 64 10.419134 29.8343 65 9.963935 29.0841 66 9.521436 28.3362 67 9.091437 27.5908 68 8.6742 38 26.8482 69 8.269739 26.1009 70 7.877840 25.3728 71 7.498341 24.6406 72 7.131442 23.9126 73 6.776643 23.1840 74 6.434244 22.4713 75 6.1039 45 21.7592 76 5.785846 21.0538 77 5.479747 20.3555 78 5.185448 19.6653 79 4.9030 49 18.9841 80 4.6321

50 18.3129

No. of years Purchased

Age next BirthdayNo. of Years PurchasedAge next Birthday

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2. Gratuity

Qualifying service – Five years or more but less than 10 years.

Gratuity is equal to one month’s pay for each completed year of service.

In case of in service death/invalidation – Gratuity is 1 ½ months pay for each completed year of service.

Retirement due to Abolition of a post or replacement by FPSC nominee (Gratuity is 1 month pay for each completed year of service. If service rendered is less than 25 years but more than 10 years).

Maximum amount of gratuity = Rs. 1,75,000.

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3. ISSUES: (1) Pakistan’s present pension scheme is a Defined Benefit in nature. Pension is determined as a percentage of final salary and length of service. There are no contributions to the scheme and is maintained on an unfunded basis. There is a need to establish a separate National Pension Fund to provide for regulatory frame work.

(2) The objective of the scheme is to (i) attract workers to service by offering a reasonable compensation package after retirement and (ii) to assure that on retirement they will not experience any drastic reduction in their monthly income. There is now a strong need for contributions from the Government servants towards their pension.

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(3) The cost of pension has increased sharply from Rs.14.6 billion in 1993-94 to about Rs. 40 billion in year 2002-03, as more and more workers are retiring and the number of pensioners is rising. Pension spending now consumes more than one tenth of the tax revenues.

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Statistics for the Government Pension Scheme (30 June 2003). (Rs. In millions)

45.8%39,421 1,284,999 85,995 1,087,152 Grand Total:

62.5%32,000 1,010,366 51,207 667,690 Military Pension Scheme

21.3%7,421 274,633 34,788 419,462 Civil Pension Scheme

59.1%33,453 1,078,238 56,593 800,220 Sub Total

29.8%2,730 126,372 9,176 197,530 Armed Forces – Civilians

64.8%30,723 951,866 47,417 602,690 Armed Forces– Personnel

Armed Forces

20.3%5,967 206,761 29,402 286,932 Sub Total

33.7%1,276 58,500 3,790 65,000 Civil Armed Forces (FC etc)

18.3%4,691 148,261 25,612 221,932 Federal Government (including Rangers & Coast Guards)

%age of Pay & allow

Pension Expenditure

Pay & allowances

Federal Government

Pension as TotalNumber TotalNumber

PensionersWorkers

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FEDERAL GOVERNMENT – BUDGET PROVISIONS

2006-072005-062004-05

43.942.542.5Pension

128.0125.8100.6Estab. Charges

The pension budgets for the fiscal years 2000-2001 to 2003-2004 are as under:

Rs.37.6252003-2004Rs. 34.8302002-2003Rs. 31.1072001-2002Rs. 30.871 2000-2001

PENSION BUDGET (Rs. in Billion)FISCAL YEAR

(Rs. In Billion)

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4. Commutation Issues:

More than 40% of pension expenditure each fiscal year is spent on commutation, which only benefit the new retirees (about 6% of total pensioners).

Commutation factors are not based on fair assumptions, and ignore, for instance, the time value of money. Further the factors benefit early ages, which are much higher than the fair values; however, at ages close to retirement age or at 60 years, the factors are lower than the fair values.

Higher commutation percentage means lower pension in future, which is not in line with the original objective of preserving the standard of living.

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5. Recommendations: (1) The Pay & Pension committee of 2001 took notice of the issues, and recommended a number of changes to pension scheme.

(2) The Actuarial Office took up the challenge of estimating the existing liability on account of pension scheme and proposing different options to reform the pension scheme.

Recommended for new entrants a new (Defined Contributions) DC system. Since then the government has been taking different actions and initiatives to consider and evaluate different proposals for reforms. In 2001, Cabinet decided that a Contributory Pension Scheme be introduced for employees entering the service after a set date.

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(3) In 2004, government created a special Pension Reform Working Group (PRWG) to evaluate the different proposals. PRWG submitted report to the Pay & Pension committee in March 2005.

(4) On the basis of recommendations of the PRWG, studies of the Actuarial Office and the deliberations of the Pay & Pension committee of 2004, the government has now been contemplating to introduce a Defined Benefits (DB) scheme, applicable only to workers joining the service after 30th June, 2007.

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(5) For the existing employees, parametric reforms were proposed keeping the affordability and other factors in view.

(6) Implementation of parametric reforms may be relatively simple, with a very little Actuarial input like the Actuarially fair commutation tables, fair early retirement penalties etc. However, for the implementation of Contributory Pension Fund scheme (systemic reforms), significant work needs to be done like basic infrastructure including record keeping, capacity building

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in government and the following arrangements:-

i) Institutional arrangements, preparation of legal framework and Rules & Regulations for Contributory Fund Management and record keeping.

ii) Contribution level for employees and employer.

iii) The investment strategy for managing the Fund.

iv) Preparation of parameters with different options.

v) Circulation of scheme with different options among stakeholders and other experts for comments and preparation of draft of final scheme.

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(7) The Pay & Pension Committee reviewed the existing pension system keeping in view the recommendations of Actuarial Office and working group on pension reforms.

The sub-committee have Recommended following reforms in the existing pension system with the premise that existing pay scales are increased by 40% (The GOP, however, increased the basic pay scales by 15% and also allowed 15% Special Relief Allowance given from 01-07-2003 and 15% ad-hoc relief given from 01-07-2004 to continue to be drawn at frozen level as on 30-06-2005):-

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The Committee recommended parametric as well as systemic reforms for pension system in two phases:-

First Phase (2005-06)a. Civil Servants-Existing Employees:- Committee recom-

mended following parametric reforms in the existing pension scheme:-

Implementation Status

It is already in vogue.The pension will be based on the last drawn pay. The pay being defined as at present.

-do-The maximum pension will be 70% which will be earned after 32 years of service.

Not implemented as yet.

For normal retirement the Accrual rate will be 2.2% for each year of service.

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- do -The increase being 60% of CPI, subject to maximum increase being 10%. For this purpose the CPI of the immediately preceding calendar year will be used.


As from FY (2006-07) the annual increase in pensions will be indexed to CPI.

Allowed upto 35% of the gross pension.

The Commutation will be allowed up to 30% of the gross pension.


For employees leaving before the age of 60 years, the accrual rate will be 2.0% and the pension will be actuarially reduced.

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Armed Forces – Existing Employees

Allowed upto 35% of the gross pension.

The Commutation will be allowed up to 30% of the gross pension.

Already in vogue.The pension will be based on the last drawn pay. The pay being defined as at present.

-do-The maximum pension will be 70% which will be earned after 26 years of service.

Not implemented as yet.For normal retirement the Accrual rate will be 2.75% for each year of service.

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**

- do -As from FY (2006-07) the annual increase in pensions will be indexed to CPI. The increase being 60% of CPI, subject to maximum increase being 10%. For this purpose the CPI of the immediately preceding calendar year will be used.


For premature retirement, as defined, the accrual rate will be 2.5% and the total pension calculated on this basis will be reduced according to the existing rules.

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Second PhaseThe Actuarial Office will make efforts to collect further data and will submit recommendations after detailed study, on some of the following proposed parametric reforms to be adopted in second phase:-

-do-Pay for pension purposes to include certain allowances to move towards more fairer pensionable pay base.

-do-Gradual reduction of the current accrual rate to 2.0% for Civil Servants and 2.5% for Armed Forces for normal retirements.

Actuarial Office has just become functional now; that office will consider this.

Commutation Factors to be determined on sound actuarial basis.

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-do-Merging of GPF, Group Insurance and Benevolent Fund Systems into one package of retirement benefits System on contributory or non contributory basis.

-do-Benefits in the form of lump sum to employees leaving service voluntarily after 10/15 years of service before the age of 60 years for Civil Servants. Presently no benefit is payable.


Changes in the accrual rate corresponding to any changes in the pension able pay base.

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New Employees

New employees will be covered under a new Defined Contributory Benefit Scheme w.e.f. 01-07-2006. For the new scheme a study will be undertaken by the Actuarial Office to make recommendation about (i) institutional arrangements for legal oversight for Pension Fund Management and for record keeping, (ii) contribution levels for employees and employer and (iii) the investment strategy for managing the Pension Fund.

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What then must we do now? - Main Issues and the decisions required to be taken thereon.

In order to ensure equity and justice, the benefits admissible under the Defined Contributions Scheme must be comparable to the present pension scheme of the Government. The Actuarial Office has estimated that if a contribution equal to 25% of the pay is made and invested and which yields a real interest rate of 3% then the accumulation at the end of service would be enough to generate annuities that would be comparable to 70% of the pensionable pay i.e. it would be just equal to the benefit admissible under the current scheme.

What would be the salient features of the Defined Contributions Scheme for the employees joining service on or after 1st July, 2007 – (i.e. the Systemic Reforms)?

2.

The post has been filled in now.A new Actuary is required to be recruited to complete the unfinished work of the Actuarial Office.

1.

Comments of the Regulations WingIssues

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Principle of justice and equity demands that the pay of the new employees be increased to cover the cost of employee contribution. With the introduction of the Contributory Pension Scheme, the government may consider either abolishing the General Provident Fund scheme or may consider removing the condition of mandatory contribution in the General Provident Fund Scheme.

Should the government increase the pay of the new employees to cover the cost of contribution and whether simultaneously it would be mandatory to retain the GP Fund Scheme?

4.

Normally the sharing of the contribution should be on 50:50 basis. GOP’s contribution can be on notional or actual transfer basis. In order to reduce future liability, GOP’s contribution should be on actual transfer basis.

Who would contribute and at what rate? Whether the government or the employee or the both.

3.

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The government may not offer the guarantees but may put in place a transparent arrangement of (i) reporting regular investment (ii) portfolio performance updates (iii) choice of portfolios with low risk low return and higher risk higher return (iv) option to choose asset manager and (v) employee represen-tation on the Board of Directors. Alternatively the GOP may consider assuring the all concerned that there would be a 3% real return on investment, but if the fund does better than the ceiling, the government would keep the difference or the government may guarantee a low floor - that the return will not go below say 2.5%, but if the fund does better, the account holder would keep the difference.

Would the government provide guarantees against the invested funds?

6.

Normally the Defined Contribution Schemes do not guarantee any assured returns and the pensioners may get a low return or even suffer a loss but if the funds are well invested, the benefits can increase manifold.

Would the scheme offer assured or variable returns? Would the pensioners face the risk of getting a low return or suffering a loss?

5.

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Normally, there should be no objection to it but these features may be fine tuned around the basic model that will emerge from the above decisions.

Would the pension be portable – can the employee take the scheme elsewhere if he leaves the federal government employment earlier?

8.

A Pension Authority may be established with a clear mandate to oversee either the only government pension scheme or the entire pension sector. If this is not considered feasible a lean organization that relies on AGPR for contribution record, and asset management entities may be established which may cover only the pension of the Federal Government employees.

What type of governance arrangement would be put in place for the investment of all contributions into individualpension accounts?

7.

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The government may only ensure that the pension accumulation is used to purchase an annuity and for this purpose may strengthen the insurance and annuity sector and the SECP may draw up a long to medium term plan in consultation with the Ministry of Finance. Once this is done, the government should have no further liability.

Would the above guarantees /arrangements of the government make the scheme successful.

9.

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WHAT IS PAY?

(Bounty of the State)

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Pay as wages earned for the labour put in for the

service to the State

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COMPRESSION RATIO

Article 38(e) of the Constitution mandates the state to reduce the disparity in the income level. In respect of Government servants, the above ratio has gradually been reduced to the present 1:10 through pay revisions in 1977, 1983, 1987, 1991, 2001.

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Compression ratio of top and bottom Basic Pay Scales

1 : 23Rs.3450 Rs.1631972

1 : 35Rs.3000 Rs. 85 1962

1 : 59Rs.4000 Rs. 681949-50

RatioMean Emoluments ofSecretary - Peon

Period

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1 : 19In India – 19765).

1 : 17In Japan – 19764).

1 : 10In West Germany – 19763).

1 : 11In UK – 19762).

1 : 25During Caliphate of Hazrat Umar(637-642 AD) between the lowest and highest military personnel

1).

The Ratio was :

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STANDARD SALARY PACKAGE FOR GOVERNMENT SERVANTS: FIXED PAY ALL INCLUSIVE

Sr.No. Basic Pay Scale, 2005

Mean Of BPS Private Sector Pay Package

Total Public Sector’s Pay Package

1 2150-65-4100 3125 6000 7218

2 2200-75-4445 3322 6629 7511

3 2280-85-4830 3555 7200 8600

4 2345-100-5345 3845 9022 9006

5 2415-115-5865 4140 11732 9561

6 2485-125-6235 4360 12192 9888

7 2555-140-6755 4655 12756 11390

8 2655-150-7155 4905 12838 11909

9 2770-165-7720 5245 12912 12414

10 2865-185-8415 5640 13060 12974

11 2980-200-8980 5980 13365 15587

12 3155-225-9905 6530 14084 16384

13 3365-245-10715 7040 16317 17144

14 3565-275-11815 7690 18557 19520

15 3780-305-12930 8355 23019 20483

16 4375-340-14575 9475 31954 22285

17 7140-535-17840 12490 39927 28963

18 9355-675-22855 16105 55795 34299

19 14260-705-28360 21310 69973 45763

20 16915-1095-32245 24580 80877 57304

21 18750-1230-35970 27360 150648 63565

22 20055-1440-40215 30135 226261 71688

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Conveyance BPS-21 Rs.30,000/- = For Motor Car

Allowance BPS-22 Rs.30,000/- = For Motor Car

House Ceiling BPS-21 Rs.30,000/- = For House Ceiling

BPS-22 Rs.40,000/- = For House Ceiling

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SUMMARY OF STATEMENT SHOWING AVERAGE SALARY OF GOVERNMENT SERVANTS.

106518225335926841960119921770632072567186210935272753056244817649884168162903233116668845764692771222815787803161722657213915116770458762551205814455715754822403193613454673551862290184712783639648802186176612122610746902078166511461

1.7.20051.12.20011.6.941.6.9131.5.9020052001199419911990BPS

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5757144436207341610910960225255940463190561470198692147720372721696013000864520379102886812568102037164192740421512896471695260182146616526726758074279171616112517505040072939161421511154450035852642151322210355421533652478141225895703868308122611311471887836052875210712

1.7.20051.12.20011.6.941.6.9131.5.9020052001199419911990BPS

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STATEMENT OF INCREASES IN PAY

Adhoc ReliefRs.100/- (BS 1-16)1.1.200011.

Special Additional Allowance

25% (BS 1-16)20% (BS 17-22)

1..7.199910.

Adhoc ReliefIncrease in Orderly Allow.

Rs.300/- (BS 1-16)Rs.300/- (BS 17-22)

1.3.19979.Cost of Living Allowance7% (BS 1-22)1.7.19958.Revision of Pay Scales35% (BS 1-22)1.6.19947.

Aata AllowanceRs.50/- (BS 1-22)1.4.19946.Addl. Adhoc ReliefRs.100/- (BS 1-16)1.9.19935.

Adhoc ReliefRs.100/- (BS 1-16)1.7.19924.Revision of Pay Scales53% to 39% (BS 1-22)1.6.19913.

Dearness AllowanceRs.200/- (BS 1-22)1.12.19902.Adhoc Relief10% (BS 1-22)1.7.19901.

RemarksIncreaseDateSl.No.

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Dearness Allowance15% (BS 1-22)1.7.200617.Revision of Pay Scales15% (BS 1-22)1.7.200516.

Adhoc Relief15% (BS 1-22)1.7.200415.Special Relief Allowance15% (BS 1-22)1.7.200314.

Revision of Pay Scales50% (BS 1-16)60% (BS 17-22)

1.12.200113.

One time dispensation on Eid occasion.

An extra salary subject to maximumof Rs.2000/- (BS

1-16)

13.11.2000(2000-2001)

12.RemarksIncreaseDateSl.No.

1. The ad-hoc increases allowed from time to time before 1.7.1999 were abolished on subsequent revision of Pay Scales.

2. The allowance at Sl.No.10 is intact at frozen level as on 30-11-2001.

3. The allowances at S.Nos.14 & 15 have been frozen at the level as on 30-06-2005 in consequence of the revision of Pay Scales w.e.f. 01-07-2005.

4. Overall increase in pay given w.e.f. 1.7.2005 ranges from 22% to 30%. Increase given in House Rent Allowance is 134%, increase given in Medical Allowance and Conveyance Allowance is 100%. The rates of 14 other allowances also increased substantially.

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STATEMENT SHOWING SALARY INCREASES FROM 1994 ONWARDS

IRegular/ Current

Revision of Pay Scales

15% (BS 1-22)1.7.20059.HAdhocAdhoc Relief15%(BS 1-22)1.7.20048.

GAdhocSpecial Relief Allowance

15% (BS 1-22)1.7.20037.

FRegularRevision of Pay Scales

50% (BS 1-16)60% (BS 17-22)

1.12.20016.

EAdhocAdhoc ReliefRs.100/-(BS 1-16)1.1.20005.

DAdhocSpecial Addl. Allowance

25% (BS 1-16)20% (BS 17-22)

1.7.19994.

CAdhocAdhoc ReliefRs.300/-(BS 1-16)1.3.19973.

BAdhocCost of Living Allowance

7% (BS 1-22)1.7.19952.

ARegularRevision of Pay Scales

35% (BS 1-22)1.6.19941.AnnexesStatusDescriptionsIncreaseDateS.No

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1. The ad-hoc increases at Serial Nos. 2, 3 and 5 were discontinued subsequent to revision of Pay Scales.

2. The ad-hoc relief at Sr.No.4 was frozen at the level drawn as on 30.11.2001 and is being paid so far at that level. The ad-hoc relief at Sl.No.7 and 8 was frozen at the level drawn as on 30-06-2005 and is being paid so far at that level.

3. Overall increase in pay given w.e.f. 1.7.2005 ranges from 22% to 30%. Increase in usual allowances given from 1.7.2005, in House Rent Allowance is 134% and in Medical Allowance and Conveyance Allowance is 100%.

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Date Ad-hoc increase as indicated below :-13.6.73

AMOUNT OF PENSION ADHOC INCREASE

(a) Not exceeding Rs.50/- 20% subject to a minimum of Rs.5/-

(b) Exceeding Rs.50/- but 15% subject to a not exceeding Rs.100/- minimum of Rs.10/-

(c) Exceeding Rs.100/- but 15% subject to a not exceeding Rs.500/- maximum of Rs.30/-

with marginal adjust-ments for pensions uptoRs.530/-.

01.08.73 15% Dearness increase on gross pension (not more than Rs.700/- p.m.) subject to a maximum of Rs.35/- p.m.

STATEMENT SHOWING DEARNESS INCREASE IN PENSION SANCTIONED TO CIVIL SERVANTS OF THE FEDERAL

GOVERNMENT SINCE 12.06.1973.

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08.04.74 15% Special dearness increase on gross pension subject to a maximum of Rs.100/- p.m.

07.04.75 10% Additional dearness increase on gross pension subject to a maximum of Rs.25/- p.m.

01.07.80 Special ad-hoc increase at the following rates to those retired upto 30.6.1980 :-

Those having IncreaseRetired in NPS (Rs. p.m.)

1 - 10 4011 - 16 7017 - 18 10019 - 20 15021 - 22 200

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01.07.81 10% upto a maximum of Rs.200/-p.m. to those retired upto 31.12.1982.



01.07.85 Indexation @ 13.5% of pension upto Rs.1500/- p.m. and @ 10% of pension above Rs.1500/- p.m. to those retired upto 30.12.1985

01.07.86 Additional indexation @ 4.5% of pension uptoRs.1500/- p.m. and 3.5% of pension above Rs.1500/-p.m. to those retired upto 30.6.1986.

01.07.87 Indexation @ 4% of pension to those retired upto30.6.1987.

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01.07.88(i) Indexation @ Rs.7% of pension to those retired upto

30.6.1988.

(ii) Gross pension of a retired government servant (irrespective of date of retirement) was fixed at not less than Rs.300/- p.m.

01.07.90 Ad-hoc relief @ 5% of pension to pensioners who retired upto 30.6.1991.

01.06.91 Increase in pension :-(i) @ 32% for pensioners retired prior to 1.5.1977.(ii) @ 12% for pensioners retired during 1.5.1977 to

30.5.1991.1.7.1995 Increase in pension:-

(i) @ 15% to pensioners retired upto 30.04.1997(ii) @ 10% to pensioners retired between 01.05.1977 to

31.05.1991(iii) @ 5% to pensioners retired between 01.06.1991 to

31.05.1993.

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01.03.97 10% increase on pension to those who retired in BPS 1to 16.

01.07.99 Increase in pension at the following rates:-

INCREASE IN PENSION(i) Pensioners in BPS 1 - 16 25%(ii) Pensioners in BPS 17 & above 20%

01.12.01 Increase in net pension at the following rates:-

INCREASE IN NET PENSION

(i) Pensioners who retired prior to the 15%introduction of 1991 Basic Pay Scales.

(ii) Pensioners who retired prior to the 10%introduction of 1994 Basic Pay Scales But on or after the introduction of 1991 Pay Scales.

(iii) Pensioners who retired on or after 5%the introduction of 1994 Basic Pay Scales and upto the date of introduction of revisedBasic Pay Scales i.e. 01-12-2001

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01.07.03 15% Increase in pension being drawn.

01.07.04 Increase in pension at the following rates:-

INCREASE IN PENSION

(i) Pensioners who retired prior to revised 16%Basic Pay Scales of 1994.

(ii) Pensioners who retired/retire in revised 08%Pay Scales of 1994 and onwards.

01.07.05 10% increase in pension being drawn.

01.07.06

(i) Pensioners who retired prior to 01.05.1977 20%(ii) Pensioners who retied on or after 01.05.1977 15%

Pension of government servants with focus on Incentives...

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