7th Pay Commission latest Update: The Central Government department has published a memorandum on the 7th Pay Commission. It has been revealed which seniors will be eligible for greater dearness assistance, as well as when they will be eligible. The Department of Pension and Pensioners Welfare (DoPPW) provided this information in a memorandum dated October 27, 2023.
The Central Government announced a 4% rise in dearness relief and dearness allowance for retirees and central employees in early October, with effect from July 1. Pensioners and employees’ relief has grown from 42 percent to 46 percent as a result of this increase. The Pension Department has now provided information on when the additional dearness allowance will be accessible.
Whose DR will increase calculator?
According to the DoPPW, civilian Central Government pensioners or family pensioners, Defence Sector Armed Forces pensioners and civilian pensioners, All India Service pensioners, Railway pensioners, provision pensioners, and some Burmese pensioners will benefit from the increase in DR. Aside from that, retired Supreme Court judges can now benefit from DR increases, thanks to a Justice Department ruling.
How much will pension increase 2023
The national government has raised the DR for retirees by 4%. If a pensioner’s base pension is Rs 40 thousand, the dearness relief will be more than Rs 16 thousand under 42 percent DR. The dearness alleviation in basic pension would be more than Rs 18 thousand after the new hike. This implies that seniors would receive a monthly pension of more than Rs 1,000.
Banks ordered to release pension immediately
According to an Economic Times story, the government has stated that banks should transfer pensions to retirees as quickly as feasible. There is no need to wait for any more instructions.
7th Pay Commission: How much amount will the pensioners get after 4 percent DR increase, the government answered