8th Pay Commission: With the approval of the formation of the Eighth Pay Commission by the Central Government, central employees as well as pensioners are expected to get a big benefit. The Eighth Pay Commission can make the fitment factor of 2.86 the basis for the increase in the pension of retired employees.
8th Pay Commission: With the approval of the formation of the Eighth Pay Commission by the Central Government, central employees as well as pensioners are expected to get a big benefit. The Eighth Pay Commission can make the fitment factor of 2.86 the basis for the increase in the pension of retired employees. If this happens, there will be a big increase in the monthly pension.
What is the minimum basic pension now?
The Seventh Pay Commission had recommended the pension of pensioners on the basis of 2.57 fitment factor. Because of this, the minimum basic pension of retired employees of the Central Government is ₹ 9,000 per month, while the maximum pension is ₹ 1,25,000 per month.
If the Eighth Pay Commission recommends pension hike on the basis of 2.86 fitment factor, then the minimum pension will increase by up to 186 percent. At present, the minimum monthly pension is ₹ 9000, which will increase by 186% to around ₹ 25,740 per month. At the same time, the maximum pension can increase from the current ₹ 1,25,000 to a potential ₹ 3,57,500 monthly.
Dearness relief is 53%
Apart from this, getting facilities like Dearness Relief i.e. DR will lead to a big increase in pension. Let us tell you that dearness relief is currently fixed at 53% of the basic pension. Usually dearness relief is revised twice a year. In such a situation, it is almost certain that the pension of pensioners will increase.
Recommendations will be implemented in 2026
The process of formation of the new Pay Commission starting in 2025 will ensure that its recommendations are received and reviewed before the completion of the tenure of the Seventh Pay Commission. Let us tell you that the tenure of the Seventh Pay Commission will end on January 1, 2026. Under the Seventh Pay Commission, there was an increase of Rs 1 lakh crore in expenditure in the financial year 2016-17. The Pay Commission also recommends the formula for revision of dearness allowance and dearness relief to compensate the central government employees and pensioners for inflation. State governments also revise the salaries of their employees on the lines of the Central Pay Commission.
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