The 8th Pay Commission is announced, but when will the money be received

The 8th Pay Commission will benefit 48.67 lakh employees of the Central Government and 67.95 lakh pensioners. But right now only the formation of the commission has been approved. There are many phases in the implementation of the 8th Pay Commission from today. Let’s understand them.

The wait of more than one crore government employees and pensioners is over. The government has approved the formation of the 8th Pay Commission. After the cabinet meeting on Thursday, Union Minister Ashwini Vaishnav said that under the chairmanship of Prime Minister Narendra Modi, a decision has been taken to implement the 8th Pay Commission, giving great relief to the central employees. It is being said that this will benefit 48.67 lakh employees of the Central Government and 67.95 lakh pensioners. But right now only the formation of the commission has been approved. There are many phases in the implementation of the 8th Pay Commission from today. Let’s understand them.

How will the 8th Pay Commission be implemented?

According to today’s announcement, the Union Cabinet has approved the 8th Pay Commission.
The 8th Pay Commission also consists of a chairman and two other members. Their names are not yet
Announced. The government can announce the names of the chairman and members soon. Apart from these, it also consists of a group of economists, administrative officers and experts.
The commission would, after constituting, deliberate upon all factors that would constitute an increase in the salary for the government servant. The salary structure along with the present allowance and types of monetary benefits going to the pensioners would come under the survey of the commission. In the same way, the commission will contemplate on adding themes such as increase in house rents, Consumer Price Index (CPI).
After discussing all the aspects, fitment factor will be made. In the 6th pay commission, fitment factor was 1.86 and 2.57 in the case of 7th pay commission. The more the fitment factor is decided, the more times the basic salary and pension of the employees increases.
The Pay Commission finally submits the report to the government after it studies everything. 6. The government approves the commission’s report and fixes a date. From that day, a new salary and pension are determined.

Every pay commission is in effect for 10 years. The term of the 7th pay commission is till 31 December 2025. That is, the government can introduce the new pay commission in the year 2026. With the implementation of the pay commission, the government employee and pensioners will get an effective increase in monthly income. For instance, if we mark the report of the previous pay commission, minimum salary was hiked from 7 thousand to 18 thousand. Since the fitment factor was 2.57. Minimum pension was also fixed at 9 thousand rupees. Besides, maximum salary cap was enhanced from 80 thousand to 2.5 lakh.