8th Pay Commission: With the increase in salary in the 8th Pay Commission, the minimum basic pension can also increase from Rs 9000 to Rs 25000 per month. Till now all central employees and pensioners were getting salary and pension on the basis of the recommendations of the 7th Pay Commission, which was implemented from 1 January 2016. Know when you will get Rs 25000 monthly pension..
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8th Pay Commission: The central government has finally announced the formation of the 8th Pay Commission. Its direct benefit is going to be given to crores of central employees and pensioners of the country. The Pay Commission formed every 10 years brings a big change in the salary and pension of the employees. Till now all the central employees and pensioners were getting salary and pension on the basis of the recommendations of the 7th Pay Commission, which was implemented from 1 January 2016. Now the 8th Pay Commission will give its recommendations and preparations are on to implement them from 1 January 2026. However, it is expected that with the increase in salary in the 8th Pay Commission, the minimum basic pension may also increase from Rs 9000 to Rs 25000 per month.
How much will the pension and salary increase?
The most important thing about the 8th Pay Commission is the fitment factor. It is a multiplier, on the basis of which the increase in salary and pension is decided. If the current pension is Rs 30,000 and the fitment factor is fixed at 2.5, then the new pension can reach Rs 75,000. Similarly, the minimum pension, which is currently Rs 9,000, can go up to Rs 22,500 to Rs 25,000. It is estimated that this time an average increase of 25-30% can be seen in salary and pension.
Not only this, along with the increase in salary, there will be an increase in dearness allowance (DA) and other allowances as well. Currently, under the 7th Pay Commission, DA has reached 50%, due to which the need for revision in the salary structure was being felt. With the arrival of the new Pay Commission, the calculation of dearness allowance will also be done on the new basic salary, due to which the impact of every DA increase in the future will be more.
How will pensioners benefit?
The biggest concern of pensioners is that their pension should not fall short according to inflation over time. In every new Pay Commission, a new system is made regarding pension so that there is no difference between old pensioners and newly retired employees. For example, in the 7th Pay Commission, the pension of pensioners was calculated by fitting them in the pay matrix. Under this, pension was decided on the basis of grade pay and pay-band at the time of retirement. Similarly, in the 8th Pay Commission also, the pension of old pensioners will be decided by the new formula.
What will be the impact on NPS, OPS and UPS?
After the announcement of the 8th Pay Commission, the discussion among employees has also intensified whether there will be any change in pension schemes. Most employees come under the National Pension System (NPS), while in many states there are also agitations going on regarding the Old Pension Scheme (OPS). The central government has recently also given the option of Unified Pension Scheme (UPS), in which employees get guaranteed pension. In such a situation, it is expected that with the recommendations of the Pay Commission, these schemes can also be improved, such as increasing the government’s contribution to NPS or bringing a hybrid model, which can provide both fixed pension and flexibility.
