Finance Minister Proposes Retirement Age Increase to 65

Finance Minister Muhammad Aurangzeb is contemplating a significant policy change that could have far-reaching implications for the economy. The proposal to raise the retirement age to 65 years is being considered as a measure to alleviate the burden of pensions on the economy. Aurangzeb has underscored the financial strain caused by pension liabilities and put forth the argument that extending the retirement age could potentially boost productivity in the later years of an individual's career.

The government's focus on stabilizing the economy and enhancing investor confidence is evident amidst ongoing structural reforms and preparations for an IMF bailout. Information Minister Attaullah Tarar has echoed concerns about the financial challenges posed by pensions, emphasizing the government's commitment to addressing these issues. Law Minister Azam Nazeer Tarar has lent his support to the idea of comprehensive pension reforms and has suggested the formation of a committee for oversight.

The proposal to raise the retirement age to 65 years reflects a proactive approach by the government to tackle the financial implications of pension liabilities. By considering such reforms, the government aims to not only stabilize the economy but also enhance productivity and investor confidence in the long run.