The amendment of the One Rank, One Pension pension for military personnel was agreed by the Union Cabinet, which was announced on Friday. The exchequer of the federal government will be put under further financial strain as a result of the new adjustment. A further burden of Rs 8,450 crore would be placed on the government as a result, according to sources. 25,1302 defence people will profit from it.
In a press conference, the Minister of Information and Broadcasting, Anurag Thakur, said that the government will pay out Rs 23,638 crore in arrears between July 2019 and June 2022. The previous pensioners’ pensions will be recalculated using the average minimum and maximum pensions of defence forces retirees in the same rank with the same amount of service for the calendar year 2018. This modification will apply to retired members of the armed forces who left their posts between July 1, 2014, and June 30, 2019 (with the exception of premature retirees).
Pension protection is required for people drawing more than the norm. According to a formal announcement, family pensioners, including war widows and seniors who are incapacitated, would also be eligible for the payment. Four semi-annual instalments will be used to pay back any arrears. Nevertheless, all family pensioners, including those receiving special or liberalised family pensions and recipients of bravery awards, will be paid arrears in a single instalment.
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