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Letter to BS: Jaitley may consider granting of automatic pension revision

This would obviate the time consuming process - two to four years - of constituting a Central Pay Commission and the approval of its recommendations by the government once every 10 years

Business Standard 

Finance Minister in his Finance Bill not only increased the salary, pension and allowances of the members of Parliament (MPs) from April 1, 2018, but also provided for automatic revision of their salary, pension and allowances every five years commencing April 1, 2023, based on the cost inflation index.

The finance minister may consider extending this kind of automatic revision of pay, pension and allowance every five years to the Central government employees and pensioners based on the All India consumer price index for industrial workers, with some weightage. This would obviate the time consuming process — two to four years — of constituting a and the approval of its recommendations by the government once every 10 years.

Similarly, Jaitley may consider granting of every five years to the pensioners of financial institutions, who have been till date denied The pensioners of financial institutions must be granted revision retrospectively from the date granted to government servants.

Sudheer Nadkarni via email


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First Published: Tue, May 01 2018. 22:24 IST
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