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8th Pay Commission Pension Calculations: Is your pension Rs 17,650, Rs 20,800, Rs 31,100, or Rs 38,950? Know your estimated revised pension at 1.95, 2.25, and 2.45 fitment factors
- Written by ZeeBiz WebTeam
Published: Zee Business| Updated: Zee Business
8th Pay Commission Pension Calculations, 8th CPC Pension Estimates: Not just central government employees but pensioners are also keen on the 8th Pay Commission (8th CPC) payout revision. Once the recommendations of the new pay commission are implemented, their pension may boost significantly. In the 7th Pay Commission, it jumped by 2.57 times after a 2.57 fitment factor was applied. A fitment factor in the same range can further increase their pension by quite a few notches. In this write-up, through projections, we will tell how much pension boost they may expect if the 8th Pay Commission decides on 1.95, 2.25, or 2.45 fitment factors.
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(Disclaimer: These are projections. Actual calculations may vary.)
1/13
How pensions were revised in 7th Pay Commission
1/13In the 7th Pay Commission, a 2.57 fitment factor was implemented. After it, the pensions also rose by the same multiplication. The minimum pension rose to Rs 9,000, while the maximum soared to Rs 1,25,000.
2/13
Calculations for story
2/13We will calculate the estimated revised pension for pensioners: (PB 1, GP 1900, Level 2, basic pension Rs 13,800), (PB 1, GP 2000, Level 3, basic pension Rs 15,550), (PB 1, GP 2400, Level 4, basic pension Rs 17,650), (PB 1, GP 2800, Level 5, basic pension Rs 20,800), (PB 2, GP 4200, Level 6, basic pension Rs 24,500), (PB 2, GP 4600, Level 7, basic pension Rs 31,100), (PB 2, GP 4800, Level 8, basic pension Rs 34,000), (PB 2, GP 5400, Level 9, basic pension Rs 38,950), (PB 3, GP 5400, Level 10, basic pension Rs 41,200), and (PB 3, GP 6600, Level 11, basic pension Rs 46,900). We will calculate them at fitment factors of 1.95, 2.25, and 2.45.
3/13
Estimated revised pension for employee (PB 1, GP 1900, Level 2, basic pension Rs 13,800)
3/13At 1.95 fitment factor- Rs 26,910 At 2.25 fitment factor- Rs 31,050 At 2.45 fitment factor- Rs 33,810
4/13
Fitment factor for 8th Pay Commission
4/13The pay commission is yet to be formed. Once it is formed, it will prepare its report and submit it to the central government. The Cabinet will approve it, and the revised pension rates will come into effect. So, it is yet too premature to say what the government decides. But according to estimates, the fitment factor can be in the range of 1.92 to 2.57.
5/13
Estimated revised pension for employee (PB 1, GP 2000, Level 3, basic pension Rs 15,550)
5/13At 1.95 fitment factor- Rs 30,322.5 At 2.25 fitment factor- Rs 34,987.5 At 2.45 fitment factor- Rs 38,097
6/13
Estimated revised pension for employee (PB 1, GP 2400, Level 4, basic pension Rs 17,650)
6/13At 1.95 fitment factor- Rs 34,417.5 At 2.25 fitment factor- Rs 39,712.5 At 2.45 fitment factor- Rs 43,242.5
7/13
Estimated revised pension for employee (PB1, GP 2800, Level 5, basic pension Rs 20,800)
7/13At 1.95 fitment factor- Rs 40,560 At 2.25 fitment factor- Rs 46,800 At 2.45 fitment factor- Rs 50,960
8/13
Estimated revised pension for employee (PB 2, GP 4200, Level 6, basic pension Rs 24,500)
8/13At 1.95 fitment factor- Rs 47,775 At 2.25 fitment factor- Rs 55,125 At 2.45 fitment factor- Rs 60,025
9/13
Estimated revised pension for employee (PB 2, GP 4600, Level 7, basic pension Rs 31,100)
9/13At 1.95 fitment factor- Rs 60,645 At 2.25 fitment factor- Rs 69,975 At 2.45 fitment factor- Rs 76,195
10/13
Estimated revised pension for employee (PB 2, GP 4800, Level 8, basic pension Rs 34,000)
10/13At 1.95 fitment factor- Rs 66,300 At 2.25 fitment factor- Rs 76,500 At 2.45 fitment factor- Rs 83,300
11/13
Estimated revised pension for employee (PB 2, GP 5400, Level 9, basic pension Rs 38,950)
11/13At 1.95 fitment factor- Rs 75,952.5 At 2.25 fitment factor- Rs 87,637.5 At 2.45 fitment factor- Rs 95,427.5
12/13
Estimated revised pension for employee (PB 3, GP 5400, Level 10, basic pension Rs 41,200)
12/13At 1.95 fitment factor- Rs 80,340 At 2.25 fitment factor- Rs 92,700 At 2.45 fitment factor- Rs 1,00,940
13/13
Estimated revised pension for employee (PB 3, GP 6600, Level 11, basic pension Rs 46,900)
13/13At 1.95 fitment factor- Rs 91,455 At 2.25 fitment factor- Rs 1,05,525 At 2.45 fitment factor- Rs 1,14,905
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