"It's on the verge of being finalised. We have completed discussions with players and points have been agreed. Documentation process (for the agreement) is in progress. It's likely to be introduced before the Asia Cup in July," BCCI secretary, S K Nair, said.
Players have agreed for the graded payment system, and a final meeting would be called for inking the pact, Nair added.
A committee set up for the purpose is working on details regarding how many players would figure in the system and in which grade -- A or B or C or D category, it was noted.
Nair also said Pakistan is committed to making a return trip to India next year, and it's likely to take place during March-April subject to Government approval.
To a question, he said there is no proposal before the BCCI at present to include in the pension plan those who represented India in One-day Internationals alone.
BCCI has said past and present Test cricketers and all those who have officiated as umpires in Test matches -- 174 in all -- would receive a monthly pension of Rs 5,000 starting last month.