The Central Government last month announced the 8th Pay Commission. Moreover, over 1 Central Government employees and pensioners are now waiting for the salary and pension hike. There are approximately 67.95 lakh central government pensioners in India. News24 with its recent interviews tried to find out that what will be the actual pay hike they will receive.
M. Raghavaiah, the staff side leader of the National Council-Joint Consultative Machinery (NC-JCM) has told NDTV Profit that they are pushing for a fitment factor of “at-least 2” in the new Pay Commission.
8th Pay Commission: Pension Hike
Subhash Chandra Garg, the former finance secretary of India, told News24 in an exclusive interview that the government may approve the fitment factor of 1.92-2.08 under the next Pay Commission. Additionally, the revised fitment factor suggested by Raghavaiah is in the middle of ‘1.92-2.08’ fitment. Shiv Gopal Mishra, secretary, staff side, NC-JCM said that next may commission should consider the fitment factor of 2.86.
Let’s find out what can be the revised pension of the pensioners at different fitment factor.
Currently, the central government pensioners’ minimum basic pension is Rs 9,000 under the 7th Pay Commission.
At 1.92 fitment factor, central government pensioners’ minimum basic pension will rise to 17,280. Furthermore, fitment factor of 2 will put central government pensioners’ minimum basic pension will rise to 18,000, a 100% increase. At 2.08 fitment factor, central government pensioners’ minimum basic pension could surge to Rs 18,720. Moreover, if the fitment factor is kept 2.86, pensioners’ minimum basic pension will rise to 25,740, a massive 186% hike.
Timeline
“The Government has approved constitution of the 8th Central Pay Commission,” Union Minister of State, Finance, Pankaj Chaudhary said in a written reply in Rajya Sabha on February 4. On the question on the appointment of members & chairperson of the new Pay Commission and the timeline, he said, “Will be decided in due course.”
However, Shiv Gopal Mishra in an exclusive conversation with News24, talked about the expected timeline of the new Pay Commission.
“I’m hopeful that the 8th Pay Commission will be established by February 15th, 2025. The Commission’s report will be finalized by November 30th, and the government will review it in December for further consideration, and the new Pay Commission can be implemented from January 2026 in the country,” Mishra remarked.
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