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National Bank Of Pakistan Announced Relief For Pensioners

National Bank Of Pakistan Announced Relief For Pensioners

The Supreme Court of Pakistan in Islamabad has affirmed the previous ruling of the high court concerning the disbursement of pensions to more than 11,000 former employees of the National Bank of Pakistan. Headed by Justice Mansoor Ali Shah, a three-member bench concluded the bank administration’s request for review, thereby granting significant relief to the pensioners.

After a six-year period, the apex court dismissed the review petition, instructing the bank to release pension funds totaling Rs60 billion to 11,500 retirees within a month. This decision has been met with approval by the retired NBP staff, who highlight the bank’s reduction of pension rates from 70 percent to 33% back in 1999. They recount their pursuit of justice through the high court, which ruled in their favor initially. However, the bank subsequently appealed against this ruling.

Read more: Details On New Voluntary Pension Plan In Pakistan

This recent ruling from the Supreme Court marks a crucial victory for the retired employees, ensuring they receive the pension entitlements they rightfully deserve after years of legal proceedings and uncertainty.