Govt Notifies 15% Increase in Pensions

The Finance Division on Wednesday notified a 15 percent increase in pension to pensioners of the federal government. In an office memorandum, the Finance Division said that the President has sanctioned an increase of 15 percent in net pension with effect from July 1, 2024, until further orders to all civil pensioners of the federal government including civilians paid from defence estimates as well as retired armed forces personnel and civil armed forces personnel. The increase will also be admissible to the pensioners who would retire on or after July 1, 2024. For the purpose of admissibility of an increase in pension, the term “net pension” means “pension being drawn” minus “medical allowance”. The increase will also be admissible on family pension granted under the Pension-cum-Gratuity Scheme, 1954, Liberalized Pension Rules, 1977, on pension sanctioned under the Central Civil Services (Extra Ordinary Pension) Rules as well as on the Compassionate Allowance under CSR-353. 5 The increase in pension will not be admissible on Special Additional Pension allowed in lieu of pre-retirement Orderly Allowance and monetized value of a driver or an orderly.