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8th Pay Commission: What to Expect in Terms of Salary and Pension Revisions in 8th Pay Commission

Rahul Roy by Rahul Roy
September 15, 2024
in FAQ, Finance, News
0
8th Pay Commission

The buzz around the 8th Pay Commission is growing, especially among central government employees and pensioners. Here’s a simplified breakdown of what you can expect in terms of revised salaries, pensions, and implementation dates.

Potential Setup and Timeline

There’s a strong possibility that the 8th Pay Commission will be established by January 1, 2026. This follows the typical 10-year cycle of pay commission implementations, with the 7th Pay Commission having taken effect on January 1, 2016. However, there’s no official confirmation yet, despite continued demands from employee unions.

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Changes from the 7th Pay Commission

When the 7th Pay Commission was introduced, employee unions pushed for a 3.68 fitment factor, but the government settled on 2.57. The fitment factor is essentially a multiplier used to calculate salaries and pensions. Here’s a quick look at the changes it brought:

  • Minimum Basic Pay: Increased from ₹7,000 to ₹18,000 per month.
  • Minimum Pension: Rose from ₹3,500 to ₹9,000.
  • Maximum Salary: Went up to ₹2,50,000.
  • Maximum Pension: Increased to ₹1,25,000.

What to Expect from the 8th Pay Commission

According to some reports, a fitment factor of 1.92 might be considered for the 8th Pay Commission. Although there is no official word from the government, here’s a speculative look at what this could mean:

  • Revised Minimum Salary: Could increase from the current ₹18,000 to ₹34,560.
  • Revised Minimum Pension: Might rise from ₹9,000 to ₹17,280.

Read more: How to format text in WhatsApp messages in 2024?

What is the 8th pay commission fitment factor?

1.92 may possibly be taken for the 8th pay commission fitment factor, based on some reports. However, the government hasn’t confirmed anything yet.

Tags: 8th Pay Commission
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