By Admin 
8th Pay Commission: There is an atmosphere of confusion among central government employees and pensioners regarding the 8th Pay Commission. Almost every day some new news is coming out on this, due to which the impatience of the employees is increasing further. However, today we are giving you this news that the National Council (Staff Side) JCM (Joint Consultative Machinery) has put forward many big demands before the Central Government and the Pay Commission. Let us see what are included in their proposals:-
Huge increase in basic pay
JCM and various employee organizations have demanded to increase the minimum basic pay from the current Rs 18000 to Rs 54000-58000. Their demand is based on Aykroyd Formula, which takes into account rising inflation, cost of living and nutritional needs.
fitment factor
The fitment factor in the 7th Pay Commission was 2.57, which is now proposed to be kept between 2.86 to 3.25. The logic behind this of the organizations is that for a respectable salary increase, the fitment factor must be at least this much.
Pension and retirement benefits
There is a suggestion to increase the minimum pension to Rs 20,000 per month. Apart from this, there has also been a demand for revision of additional pension rates at the age of 65, 70 and 75 years. Currently, according to the rules of the Central Government, additional pension starts on completion of 80 years of age. JCM argues that waiting till 80 years is too long as health related expenses increase significantly by this age, hence JCM has proposed the following:-
- At the age of 65 – Additional increase of 5 percent in basic pension.
- At the age of 70 years – demand to increase the additional increase to 10 percent.
- At the age of 75 years – additional increase should be 15 percent.
Restoration of OPS
JCM is demanding complete restoration of the Old Pension Scheme (OPS) by abolishing the National Pension System (NPS) and Unified Pension System (UPS). JCM believes that NPS is market linked, hence there is a risk of employees losing their money in case of stock market collapse. There is no guarantee of pension in this.
Other demands of JCM
- There is a proposal to increase the limit of leave encashment at the time of retirement from 300 days to 400 days.
- Demand to merge 50 percent dearness allowance (DA) into basic pay.
- Instead of 3 percent annually, now a demand has been made for 5-7 percent increment.
Also read:
8th Pay Commission: Salary is going to increase! Will we get a hike up to 186 percent? See full calculation