Cabinet approves additional 2% Dearness Allowance / Dearness Relief due from January, 2017

Cabinet approves additional 2% Dearness Allowance / Dearness Relief due from January, 2017

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved release of an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners w.e.f. 01.01.2017. It has increased by 2% over the existing rate of 2% of 
the Basic Pay/Pension, to compensate for price rise.

This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission.

The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be Rs. 5,857.28 crore per annum and Rs.6,833.50 crore in the Financial Year 2017-18 (for a period of 14 months from January, 2017 to February, 2018).

This will benefit about 48.85 lakh Central Government employees and 55.51 lakh pensioners.

Source:http://www.pib.nic.in/newsite/erelease.aspx?relid=0

Haryana govt revises pension

Haryana govt revises pension

The maximum pension would be Rs 1,12,050, that is, 50 per cent and family pension Rs 67,230, that is, 30 per cent of the highest pay, that is, Rs 2,24,100 in Haryana government.

Haryana has issued notifications regarding revision of pension and family pension in respect of pre-2016 pensioners and family pensioners and those government employees who retired or died in harness on or after January 1, 2016 on the basis of the recommendations of the 7th Central Pay Commission.

The minimum pension or family pension with effect from January 1, 2016, would be Rs 9,000 a month. This will exclude the additional pension or family pension to the old pensioners. The maximum pension would be Rs 1,12,050, that is, 50 per cent and family pension Rs 67,230, that is, 30 per cent of the highest pay, that is, Rs 2,24,100 in Haryana government.

For the existing pensioners, who retired before January 1, 2016, the revised pension or family pension with effect from January 1, 2016, would be determined by multiplying the existing basic pension or family pension by 2.57.

Read at:http://indianexpress.com/article/cities/chandigarh/haryana-govt-revises-pension-4567394/