8th Pay Commission: What's the new minimum and maximum pension? Find out here
The Prime Minister Narendra Modi's cabinet has recommended the 8th Pay Commission on January 16.
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8th Pay Commission
The Prime Minister Narendra Modi's cabinet has recommended the 8th Pay Commission on January 16. The 8th Pay Commission will benefit 5 million central government employees and 6.5 million pensioners.
Nearly 10 Million Families to Benefit
The 8th Pay Commission aims to benefit nearly 10 million families through revised salaries and allowances.
Fitment Factor Base
Media reports suggest the pay panel will set the fitment factor between 1.92 and 2.86, significantly impacting salaries.
Salary Increase
With a 2.86 fitment factor, the minimum basic salary could increase from Rs 18,000 to Rs 51,480 per month.
Pension Increase
This fitment factor could raise the minimum pension from Rs 9,000 to Rs 25,740. The maximum pension could exceed Rs 1 lakh with the implementation of this fitment factor.
8th Pay Commission Implementation
The 8th Pay Commission is expected to be implemented next year. The central government hasn't announced DA for central government employees this year, fueling 8th Pay Commission speculation.
Long-Standing Demand
Implementing the 8th Pay Commission has been a long-standing demand. The last DA hike for central government employees was during Diwali last year.
