Enter Keyword and Search







Flash News : Non-Productivity Linked Bonus (Ad-hoc Bonus) to the CG Employees - Finmin Orders

7th CPC Pension Calculator: Notional Pay and Pension Calculator as Per New Formulation

with 0 Comment
7th CPC Pension Calculator: Notional Pay and Pension Calculator as Per New Formulation

Notional Pay and Pension Calculator is prepared as per New Formulation for revising of Pension.  The DoPPW has issued Order for revising Pension under new Formulation proposed by the Committee headed by Secretary, Department of Pension Pensioners’ Welfare, which was appointed to examine the feasibility of 1st Option recommended by 7th CPC. The Committee also opined that the 1st Option recommended by 7th CPC is not feasible to implement. Hence it has proposed an alternate method of calculation of Pension based on arriving Notional Pay in 7th Pay Commission. So that discrepancy if any in Pension Fixation may be avoided.

This will be done by notional pay fixation under each intervening Pay Commission based on the Formula for revision of pay. White fixing pay on notional basis, the pay fixation formulae approved by the Government and other relevant instructions on the subject in force at the relevant time shall be strictly followed.

The calculator provided below will help you to find the Notional pay and Basic Pension on Notional based on your Inputs in the relevant field. The amount of Pension arrived from Two formulations will be shown in the result page.

Calculating Basic Pension  based on Notional Pay is New Option I

The Option II [Fixed by multiplying with 2.57] is already implemented and Pension is paid accordingly with effect from 1.1.2016.

It has also been decided that higher of the two Formulations, shall be granted to pre-2016 central civil pensioners as revised pension w.e.f. 01.01.2016.


Related Posts...

0 comments:


Today's Recent Entries...

Disclaimer:As and when orders amending the rules are published by the Government, the amendment orders will be published in our blog immediately. Readers are requested to refer to the source link is given at the end of the post. All efforts have been made to ensure accuracy of the content on this blog, the same should not be construed as a statement of law or used for any legal purposes. 90paisa accepts no responsibility in relation to the accuracy, completeness, usefulness or otherwise, of the contents. Users are advised to verify/check any information with the relevant department(s) and/or other source(s), and to obtain any appropriate professional advice before acting on the information provided in the blog. Links to other websites that have been included on this blog are provided for public convenience only. 90paisa is not responsible for the contents or reliability of linked websites and does not necessarily endorse the view expressed within them. We cannot guarantee the availability of such linked pages at all times.

Recent Posts