Big bonanza for govt employees: Pay Commission moots 23.55% pay hike

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November 19, 2015 20:35

Seventh pay commission headed by Justice AK Mathur has submitted its report to Finance Minister Arun Jaitley.

Here are some of the recommendations made by the Pay Commission:

* The minimum pay in government is recommended to be set at Rs 18,000 per month.

* One Rank One Pension recommended for central govt staffers as well as armed forces.

* Increase in pay will be 16%, increase in allowances will be 63% and increase in pension would be 24%.

* The age of superannuation for all CAPF personnel to be 60 years uniformly

* A revised pension formulation for civil employees including CAPF & defense personnel who have retire before January 1, 2016.

* Systemic change in the process of cadre review for Group A officers.

* A fitment factor of 2.5 is being proposed to be applied uniformly for all employees.

* The total financial impact in the FY 2016-17 is likely to be Rs 1,02,100 crore, over the expenditure as per the business as usual scenario.

Read the full report of the 7th Pay Commission HERE

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