Debates are stirring around-the-topic about Household Pay Commission which comes into discussion among central government employees and pensioners. With its impending next pay hike revision, news reports have emerged on the expectant retired government employees’ hike in pension by as much as Rs 16,740. But, pendulum weighing on this hike will most likely swing according to the government position about the 8th Pay Commission.
Old Age Pension Increase Proposed Under The 8th Pay Commission
If constituted, the 8th Pay Commission would entail drastic pay and pension revisions for government employees. Following other common trends, expert advice reveals that :
- the minimum basic pension would rise about ₹16,740/month.
- the Fitment Factor for determining salary and pension increases would be between more than 2.57 and 3.68.
- the Dearness Allowance (DA) will continue adjusting according to inflation, semiannually.
Thus, this proposal will more often lead to significant increases and, as such, impart a certain amount of financial security to the pensioners through better post-retirement lifestyles.
The Government Stance On The 8th Pay Commission
It has not yet been officially confirmed by the central government that it will constitute an 8th Pay Commission. While some officers argue that the conventional method to establish a Pay Commission for every 10 years may already be outdated, an alternative may be introduced-a system of salary adjustments according to changes in the economy and inflation rates rather than the establishment of a new commission.
The Employees’ unions are again rising, and they are demanding such a first step towards setting up the 8th Pay Commission so that there is fairness in wage and pension revision. This seems more likely as news could have emerged about a decision by 2026, when the 10-year cycle completion of the 7th Pay Commission will happen.
Impact Of Pensioners And Employees
It will be beneficial for more than 50 lakh central government employees and 60 lakh pensioners once accepted. Hence, the pension increase of ₹16,740 would come in timely reign for such pensioners and retirees who look at living in an affordable manner among rising prices.
Conclusion
Yet again, hope has been ignited for state employees and pensioners as the 8th Pay Commission moves into realization. Others have hopes for the expected possible increase of pension in 16,740, but the country’s firm policy would, however, determine the final verdict on this. Employees and pensioners always need to update their work reserves until further announcements regarding the implementation of the 8th Pay Commission in coming years.
Also Read: DA Hike Update 2025: Check New Increase And When It Will Be Announced