Government of the Punjab Finance Department issued a Notification on 25-10-2023 in connection with Amendments in Punjab Pension Fund Rules 2007. The details are as under:
Amendments in Punjab Pension Fund Rules 2007
According to the Notification, In exercise of the powers conferred under section 24 of the PPF Act 2007 (I of 2007), the Governor of Punjab is pleased to make the following amendments to the PPF Rules 2007, with immediate effect:
Amendment:
In the Punjab Pension Fund Rules 2007:
- In rule 5, clause (a) shall be omitted.
- In rule 6, after clause (k), the following new clause shall be inserted:
“ka” “authorize to merge, acquire or take over management of any other und or provide investment management or advisory services to any fund of public entitles under Government of the Punjab,”.
What are Rule 5 and Rule 6 of the Punjab Pension Fund?
Rule 5 Clause- a
(a) merge, acquire, or take over management of any other pension fund unless it has obtained prior approval of the Government for the merger, acquisition, or takeover.
Copy of Rule 6 (k)
The Finance Department has informed all the concerned offices. After reading the above details, I hope you can understand the situation of the amendment of PPF Rules 2007. The FD Punjab has also sent a letter to BoR Punjab. It also sent information to many other offices in Punjab.
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