NEW DELHI, Apr 22: The Union cabinet is set to approve next week a new Rs 5,000-crore pension formula that is expected to benefit more than five million central government employees.
Reports said "If a person retired as a director under the sixth pay commission, ten years later his pension would be fixed (based on) the salary of a director in the seventh pay commission."
The seventh pay commission recommended that pension could be calculated by two methods: One, pension would be 50% of the last salary and multiplied by 2.57. T
|