Pakistan, Aug. 4 -- The Pakistan Sports Board (PSB) has established a Contributory Pension Fund to address future pension liabilities and ensure a sustainable retirement system for its employees. The fund is expected to generate around Rs73 million annually, easing financial pressure on the board's pension disbursement system.

The decision was made during the 34th PSB Board meeting, where members unanimously approved amendments to the board's pension rules. Following the approval, Director General PSB Muhammad Yasir Pirzada formally issued a notification for the creation of the fund.

"The contributory pension fund is a long-overdue reform aimed at strengthening the financial foundation of the PSB and securing the future of our pensioner...