The Union Cabinet chaired by the PM has approved the implementation of the recommendations of 7CPC on pay and pension benefits. It will come into effect from 01.01.2016.
You all know what the 7CPC have recommended. Govt, it seems, have approved it without any change (but for holding certain things, and putting them on Committees ). We all were expecting something better, with the Govt thinking wise and practical. That has not taken place.
The summary of the now approved implementation are :
You all know what the 7CPC have recommended. Govt, it seems, have approved it without any change (but for holding certain things, and putting them on Committees ). We all were expecting something better, with the Govt thinking wise and practical. That has not taken place.
The summary of the now approved implementation are :
18000 / 2.57 remains same. Pay matrix to be further decided by another IAS team.
That's all.
However, the most important point for the Pensioners is :
The general recommendations of the Commission on pension and related benefits have been approved by the Cabinet. Both the options recommended by the Commission as regards pension revision have been accepted subject to feasibility of their implementation. Revision of pension using the second option based on fitment factor of 2.57 shall be implemented immediately. A Committee is being constituted to address the implementation issues anticipated in the first formulation. The first formulation may be made applicable if its implementation is found feasible after examination by proposed Committee which is to submit its Report within 4 months.
The general recommendations of the Commission on pension and related benefits have been approved by the Cabinet. Both the options recommended by the Commission as regards pension revision have been accepted subject to feasibility of their implementation. Revision of pension using the second option based on fitment factor of 2.57 shall be implemented immediately. A Committee is being constituted to address the implementation issues anticipated in the first formulation. The first formulation may be made applicable if its implementation is found feasible after examination by proposed Committee which is to submit its Report within 4 months.
But , please don't miss the media comments
BONANZA FOR BABUS
SEVENTH SENSE, and so on !
The following Data Graphics would interest you (from TheHindu and BusinessLine )
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