8th Pay Commission Revised Pension Calculations: The central government has a large number of pensioners, plus there is a large workforce that will retire from their service soon. Like active employees, these pensioners will also benefit from the 8th Pay Commission. The fitment factor, which is a multiplier for salary and pension revision, will determine the amounts these pensioners will get in their pension amount once the 8th Pay Commission’s recommendations are implemented.
What if you are a Level 3, 4, 5, 6, or 7 employee and just about to retire, or you are a pensioner who is already getting the same pension that these employees will get post retirement?
What may be your revised pension if the 8th Pay Commission (8th CPC) decides on a 1.92, 2.04, 2.28, or 2.57 fitment factor? See our estimates to know.
Calculations for story
For our calculations, we are selecting employees of the below-mentioned basic salaries.
We are assuming this to be their last-drawn basic pay at retirement and also assume that their pension will be 50 per cent of their last-drawn basic pay.
E.g., if an employee has Rs 70,000 as their last-drawn average basic pay, we will assume they will get Rs 35,000 as the basic pension.
We will also include a 55 per cent dearness allowance (DA) to their salary.
We will calculate the estimated revised pension at 1.92, 2.04, 2.28, and 2.57 fitment factors.
Level 3 last-drawn basic pay Rs 35,000
Level 3 last-drawn basic pay Rs 48,500
Level 4 last-drawn basic pay Rs 41,000
Level 4 last-drawn basic pay Rs 55,100
Level 5 last-drawn basic pay Rs 46,800
Level 5 last-drawn basic pay Rs 61,000
Level 6 last-drawn basic pay Rs 52,000
Level 6 last-drawn basic pay Rs 68,000
Level 7 last-drawn basic pay Rs 70,000
Level 7 last-drawn basic pay Rs 81,200
(Disclaimer: These are projections. Actual revised pension amounts may vary.)
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