8th pay commission: Big update is here regarding 8th Pay Commission. Since the formation of the 8th Pay Commission, considerable unrest has been observed among employees. Employee organizations have certain expectations from the Pay Commission, while pensioners also have different expectations. Following the demands of employee organizations, pensioner organizations have now also demanded changes to the pension structure from the Pay Commission. Pensioners now want increased pensions based on their age.
Pension should be determined by age
Both employees and pensioners have put forth various requests in the 8th Pay Commission. Some are asking for an increase in DA, others for a salary revision, and some for enhanced pension benefits. Alongside these employee requests, pension organizations are advocating for retired employees to receive pensions that reflect their age. The older the retiree, the greater the percentage of their salary at retirement. The proposed structure is as follows:
- A retired employee who is 65 years old should receive 70% of their last salary as pension.
- A retired employee who is 70 years old should receive 75% of their last salary as pension.
- A retired employee who is 75 years old should receive 80% of their last salary as pension.
- A retired employee who is 80 years old should receive 85% of their last salary as pension.
- A retired employee who is 85 years old should receive 90% of their last salary as pension.
- A retired employee aged 90 years or older should receive their last salary as a full 100% pension.
Additionally, employees have made several demands regarding pensions, which include:
Raising the minimum pension to 67% of the last drawn pay (LPD), or the average pay received during the last 10 months of service.
Modifying the fitment factor used for pension calculations.
Reassessing the Dearness Relief (DR) structure and incorporating it into pension benefits.
Broadening the scope of family pension benefits
It is important to note that if the requests of employees and pensioners are fulfilled following the establishment of the 8th Pay Commission, around 5 million central government employees will benefit. Additionally, approximately 5.6 million retired pensioners, including those from defense and railway sectors, will also gain from these changes.
