7th pay commission: Modi govt set to release Rs 5,000-crore pensioner after the MCD elections


New Delhi: After the MCD election held in Delhi on Sunday 23 April, the government can approve a package of 5,000 crores for pensioners. The Government is in the process of taking steps to central employees and senior citizens while removing the concerns related to the 7th pay commission. The issue of revised pension will be presented before the central cabinet, apart from, 3 to 4 other issues related to the central personnel will also be discussed. Earlier, the Committee, headed by Finance Secretary Ashok Lavasa, has also recomended the Allowance for Government Employees. This includes an increase in house rent allowance.

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It is believed that the recommendations of the panel can be submitted to the Government by next week. However there are indications that there will be no immediate changes in the allowances. On the condition of not disclosing the name, a source said, "The scheme of revision in pension has been finalized, but due to the MCD elections, the government has postponed it. It can be approved by the Cabinet next week as per Navbharattimes report.
The pay commission had given the government an incremental linked pension formula, apart from that, the recommendation of the Sixth Pay Commission was 2.57 times the increase. The government has approved the second formula from this. Under this, the person retired on December 31, 2015 will get fewer pension than a person who retires one month later. Suppose an employee retires from Secrecy before January 2016, he will receive a pension of Rs 1.02 lakh, but retiring at the end of the month will receive 1.12 lakh rupees.

Now the government has two options - the first is the 'Modified Parity Plus' formula, which will be linked to the salaries raised by the employee of the same rank. At the same time, the second formula is 2.57 times the increase in the sixth pay commission's pension. The sources said that the formula for pension, due to which the pensioners will get much benefit, it will be approved.

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