Pension in 8th Pay Commission: The Modi government has given great news to the Central Government Employees and Pensioners in the new year. Approval has been given for the formation of the 8th Pay Commission for about 1.25 crore employees and pensioners. The term of the currently applicable 7th Pay Commission will end in January 2026 and after that, the 8th Pay Commission will be implemented.
Not only employees but also pensioners will get the benefit of this. Especially, there will be a big increase in the pension of the retiring employees. Let us tell you in detail...
How is salary and pension calculated?
The salary of the employees and the pension received after retirement is determined based on the Fitment Factor. Every time with the Pay Commission, the government applies a new fitment factor, which decides how much the actual increase in salary and pension will be.
This change was made in the 7th Pay Commission.
When the 7th Pay Commission was implemented, the employees demanded a fitment factor of 3.68. However, the government implemented a fitment factor of 2.57. Due to this, the minimum basic salary increased from Rs 7 thousand to Rs 18 thousand. Similarly, the pension also increased from Rs 3,500 to Rs 9,000.
In the 7th Pay Commission, due to the 2.57 fitment factor, the maximum basic salary increased to Rs 2.5 lakh, while the maximum pension reached Rs 1.25 lakh.
How much will the salary and pension increase in the 8th Pay Commission?
This time the employee organizations have demanded a 2.86 fitment factor (8th Pay Commission Fitment Factor). However, there is a possibility that the government may implement a fitment factor of 1.92. If this happens, the minimum basic salary can increase from Rs 18,000 to Rs 34,560.
At the same time, the pension can increase from Rs 9,000 to Rs 17,280. If the government implements a fitment factor of 2.86, the minimum salary can increase directly to Rs 51,480 and pension to Rs 25,740.
Employees and pensioners will get big benefits.
With the implementation of the 8th Pay Commission, the financial condition of government employees and pensioners will improve. Its effect will be visible on the salary of the employees and the benefits they receive after retirement.
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