8th Pay Commission: Potential Changes to Post-Retirement Security and Pension System
मुख्य बातें
- •The 8th Pay Commission may bring changes to post-retirement security and pension systems.
- •The NC-JCM has proposed that full pension be set at **67% of the last pay drawn (LPD)** or the average of the last 10 months' salary (whichever is more beneficial) instead of the current 50%.
- •Employees may be given the freedom to choose the most suitable pension system—whether OPS, NPS, or UPS.
- •The 8th Pay Commission is crucial as it is expected to impact over **1.1 crore beneficiaries**, including central government employees, pensioners, and their families.
The formation of the 8th Pay Commission is expected to bring several significant changes for central government employees and pensioners. One of the key issues under consideration is enhancing post-retirement security and improving the pension system. In its memorandum to the 8th Pay Commission, the NC-JCM has proposed that, to ensure a dignified life after retirement, the full pension should be set at 67% of the last pay drawn (LPD) or the average of the last 10 months' salary, whichever is more beneficial—currently fixed at 50%.
The memorandum also references a recommendation from a parliamentary standing committee, which suggested an additional . Under this proposal, the pension structure would be as follows: - 70% of LPD - 75% of LPD - 80% of LPD - 85% of LPD - 90% of LPD - 100% of LPD
