Good news may soon be available for central employees and pensioners regarding the 8th Pay Commission. There are strong possibilities that the government may constitute the 8th Pay Commission this month. Earlier, it was believed that the government could constitute the Pay Commission in April. Let us tell you that the central government has already approved the much-awaited 8th Pay Commission, although the official formation of the panel is still pending. So, this month is going to be full of expectations for the employees.
A huge increase in salary and pension is expected
In this regard, Finance Minister Nirmala Sitharaman had said last month that the new commission would be constituted soon. According to media reports, the 8th Pay Commission is expected to be constituted by May 2025. According to the report, the panel will start its work soon after being constituted. This is expected to increase both the salary and pension of the employees tremendously. This news is no less than a lifesaver for about 36 lakh central employees and pensioners.
When will the panel be formed
It is worth noting that about 36 lakh central employees and pensioners will benefit from the 8th Pay Commission. It is expected that the government will form the panel by the end of May. This will generally give the government enough time to implement its concern recommendations before the term of the 7th Pay Commission ends time on January 1, 2026. Employees are now just eagerly waiting for the official announcement.
What are the expectations of employees from the 8th Pay Commission
According to estimates, the 8th Pay Commission may propose a hike of 40 to 50 percent in the salary of central employees and pensioners. For this, the commission can use a fitment factor between 2.28 to 2.86. In such a situation, if approval is received from the government, employees whose salary is currently ₹ 20,000 can get a salary between ₹ 46,600 to ₹ 57,200! This can prove to be very good news for the employees.
Fitment factor will play a big role
The new salary structure will be decided based on the fitment factor. Let us tell you that the 2.57 fitment factor was fixed in the 7th Pay Commission! If the 8th Commission recommends increasing it to 2.86, then the basic salary is expected to increase by up to 186 percent. However, the government has not yet officially confirmed the final figures. Employees hope that this time there will be a good increase in the fitment factor, which will improve their financial condition.