Federal Government Pensioners to Receive 15% Increase
Good news for federal government pensioners! The Finance Division announced a 15% increase in their net pensions, effective July 1, 2024. This applies to:
- Existing Pensioners: All civil pensioners, including those paid from defense funds.
- Retired Personnel: Retired armed forces personnel and civil armed forces personnel.
- New Retirees: Those retiring on or after July 1, 2024, will also benefit.
READ MORE: Punjab Offers Free Housing to Workers
What’s included?
- The increase is based on the “net pension,” which is the pension amount minus the medical allowance.
- Family pensions under various schemes like 1954 Pension-cum-Gratuity Scheme and 1977 Liberalized Pension Rules are also eligible.
- Compassionate Allowances under CSR-353 will see an increase as well.
What’s not included?
- Special Additional Pensions given in place of pre-retirement Orderly Allowance and driver/orderly benefits are not included in the increase.
This initiative demonstrates the government’s commitment to supporting the well-being of its retired federal employees.
