8th Pay Commission: How Much Pension Will Govt Employees Get After Eight Pay Commission Execution

Описание: 8th Pay Commission: How Much Pension Will Govt Employees Get After Eight Pay Commission Execution

Central govt employees are looking forward to the implementation of 8th Pay Commission. This will substantially increase both salaries and pensions for central govt employees. There are currently 6.872 million pensioners under central govt. This figure includes employees from various sectors such as civil, defense, railway and postal departments. Fitment factor will be crucial in determining how much the pension will increase. It serves as a multiplier for salary and pension hikes in any pay commission. For 7th pay commission, the fitment factor was established ar 2.57. Which meant the basic pay of govt employees was raised to 2.57 times their basic pension from 6th pay commission. The fitment factor for 8th Pay Commission will be set once the Union Cabinet gives its approval. If govt decides to raise the fitment factor from 2.57 to 3.0 or 3.60 pensioners could see their basic pension double.

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