Pakistan, June 14 -- Finance Minister Muhammad Aurangzeb has supported increasing the retirement age from 60 to 62 years. He said this move could help reduce the country's growing pension liabilities. Speaking in a Senate Finance Committee meeting, he shared concerns about rising unfunded pensions. He noted that pension reforms had already started, including the introduction of a Defined Contributory Pension system for civilians last year.

During the meeting, Senator Farooq H. Naek suggested raising the retirement age to 62, comparing it to extensions given in the judiciary. Senator Anusha Rahman also backed the proposal and said the age could go up to 65 or even 70. Aurangzeb agreed with them and shared his experience from the banking s...