Vol-I/APP&MC/CP-Fund/2022-23
03-February-2025
Finance Department, Government Of Khyber Pakhtunkhwa
KPK Finance Department Announces Mandatory Pension Accounts for Government Employees – Check Details Here:
The Government of Khyber Pakhtunkhwa (KP), Finance Department, has issued a crucial government notification regarding pension accounts for civil servants. As per the latest directive, all civil servants hired or regularized on or after June 7, 2022, must mandatorily open their pension accounts with designated Pension Fund Managers/Asset Management Companies under the Khyber Pakhtunkhwa Contributory Provident Fund Scheme.
This step is aimed at streamlining the pension contribution system through an automated transfer mechanism via the Accountant General Khyber Pakhtunkhwa. Once fully implemented, this automation will ensure seamless salary and pension contribution processing, preventing any delays or disruptions for employees.
Failure to open a pension account before February 10, 2025, may lead to complications in salary disbursement, as pension contributions will be directly linked to the payroll system. All government departments are urged to inform their employees and ensure compliance with this directive.
GOVERNMENT OF KHYBER PAKHTUNKHWA
FINANCE DEPARTMENT
Finance Department, Civil Secretariat, Peshawar,
Vol-I/APP&MC/CP-Fund/2022-23 Dated: 03-02-2025
To
All Administrative Secretaries,
Government of Khyber Pakhtunkhwa.
SUBJECT: MANDATORY OPENING OF PENSION ACCOUNT BY ALL CIVIL SERVANTS HIRED OR REGULARIZED ON OR AFTER 07.06.2022
Dear Sirs,
In continuation of pension cell Finance Department Khyber Pakhtunkhwa, letter No. APP & MC/DT & A/Z-T/2018 19/General/KC dated 01.02.2023 and No. Vol- V/APP & February UND/2022-23, I am directed to inform you that all Civil Servants hired or regularized on or after 07.06.2022, regardless of the effective date of regularization, are required to mandatorily open their individual pension accounts with Pension Fund Managers/Asset Management Companies designated for the Khyber Pakhtunkhwa Contributory Provident Fund Scheme.
2. The process of transferring contributions to employee’s pension accounts is currently being automated through the office of Accountant General Khyber Pakhtunkhwa. Pension contributions are planned to be transferred to employee’s pension accounts via electronic transfer, which, it is hoped, will be achieved in near future, as part of the payroll process. Once the automation process is completed, employees whose pension account information is not available with the Accountant General Khyber Pakhtunkhwa Office may face difficulties in salary processing. The salary transfer process will include the contribution transfer process, and it will not be executed until both processes are run concurrently. In this connection, it is requested that this information must be communicated to all subordinate offices, and measures must be taken to ensure the opening of pension accounts for all Civil Servants hired or regularized on or after 07.06.2022 by 10th February 2025.
Yours faithfully,
Deputy Director, Pension Cell
Finance Department
Compliance with New Pension Rules Is Essential for Govt Employees:
The KPK Finance Department has taken a significant step towards improving the pension management system by enforcing the mandatory pension account policy for civil servants hired or regularized after June 2022. This initiative will help ensure timely and transparent fund transfers while integrating pension contributions with automated salary processing.
Government employees must act promptly to open their pension accounts by February 10, 2025, to avoid salary processing delays. Departments are instructed to circulate this information widely and facilitate employees in completing the necessary formalities.
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