New Delhi:
Pension in 8th Pay Commission: Modi government has given great news to the central government employees and pensioners on the new year. Approval has been given for the formation of 8th Pay Commission (8th Pay Commission announced) for about 1.25 crore employees and pensioners. The period of the currently applicable 7th Pay Commission will end in January 2026 and after that the 8th Pay Commission will come into effect.
Not only the employees but also the pensioners will benefit from this. Especially, there will be a big increase in the pension of retiring employees. Let us tell you in details…
How are salary and pension calculated?
The salary of employees and the pension they receive after retirement is determined on the basis of fitment factor. Every time, along with the Pay Commission, the government implements a new fitment factor, which decides how much will be the actual increase in salary and pension.
This change took place in the 7th Pay Commission
When the 7th Pay Commission was implemented, the employees had 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 minimum pension also increased from Rs 3,500 to Rs 9,000.
Due to 2.57 fitment factor in the 7th Pay Commission, the maximum basic salary had increased to Rs 2.5 lakh, while the maximum pension reached Rs 1.25 lakh.
What will be the change in 8th Pay Commission?
This time the employee organizations have demanded a fitment factor of 2.86. However, there is a possibility that the government may implement a fitment factor of 1.92. If this happens, the minimum basic salary may increase from Rs 18,000 to Rs 34,560. At the same time, pension can increase from Rs 9,000 to Rs 17,280. If the government implements the fitment factor of 2.86, then the minimum salary can directly increase to Rs 51,480 and pension can increase 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 further improve. Its impact will be clearly visible on the salaries of employees and the benefits they receive after retirement.