Bank Alfalah increases retirement age to 65, minimum salary to Rs. 40,000
Bank
Alfalah has raised the retirement age of its employees to 65 years and also set
the minimum salary at Rs. 40,000 per month.
The
development comes at the 25th anniversary of the one of Pakistan’s
leading commercial banks.
Bank Alfalah says it
is the only bank in the industry with ‘permanent colleagues till 65 years with
full benefits’.
Entry-level salaries
at Bank Alfalah have been raised to Rs. 40,000 per month as against the
previous Rs. 30,000.
Moreover, in
celebration of its 25th anniversary, the Bank has also awarded bonus equivalent
to one month’s basic salary to all eligible colleagues.
To better facilitate
its employees, the bank has also decided to enhance the benefits of staff house
finance limits for all its employees.
Bank Alfalah emerged
as the largest corporate donor, pledging $10 million to the rehabilitation of
the communities impacted by last year’s devastating flood.
The Bank also
introduced a financial assistance program for colleagues and their families
affected by the torrential rains and floods.
An amount of Rs. 100 million was allocated for this program which has benefited 500 colleagues already.