Pre-2016 Retirees to get enhanced Pension, Arrears by Aug-End

Pre-2016 Retirees to get enhanced Pension, Arrears by Aug-End

New Delhi: All pre-2016 retirees will get the benefits of 7th Central Pay Commission (CPC) recommendations like hike in pension and arrears by this month end, the government has said.

For existing pensioners, who have retired till 31 December 2015, the revised pension or family pension with effect from this year shall be determined by multiplying the pension or family pension, as had been fixed at the time of implementation of Sixth CPC recommendations, by 2.57, it said, adding that, the amount of revised pension so arrived at shall be rounded off to next higher rupee.

The Seventh CPC’s recommendations will be implemented from 1 January 2016. The ministry of personnel, public grievances and pensions has issued an order regarding increase in pension and grant of arrears to pre-2006 retirees. “It is considered desirable that the benefit of these orders should reach the pensioners as expeditiously as possible,” the ministry said.

To achieve this objective it is desired that all pension disbursing authorities should ensure that the revised pension and the arrears due to the pensioners is paid or credited to their account by 31 August 2016 or before positively, it said.

Further, public sector banks handling disbursement of pension to the central government pensioners are hereby authorised to pay pension or family pension to existing pensioners at the revised rates “without any further authorisation from the concerned Accounts Officers or Head of Office etc”, the order said. There are about 58 lakh central government pensioners.

Source: http://economictimes.indiatimes.com/