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Centre finally on Saturday cleared the One Rank One Pension notification, hence ending the deadlock between the Centre and ex-servicemen of the country. The OROP scheme will be effective from July 1, 2014.
The government in its annoucement has listed the following points:
The arrears will be paid in four half-yearly instalments.
All widows, including war widows, will be paid arrears in one instalment.
The pension would be re-fixed every five years.
Defence personnel who voluntarily retire will be covered under the One Rank One Pension (OROP) scheme. However, the new pension structure will apply to personnel who have already retired prematurely pension would be re-fixed every five years.
The estimated cost of OROP implementation to the exchequer would be Rs 8,000 to Rs 10,000 crore. Expenditure on arrears would be between Rs 10,000 to Rs 12,000 crore.
One Rank One Pension notification cleared by Centre : India, News - India Today
The government in its annoucement has listed the following points:
The arrears will be paid in four half-yearly instalments.
All widows, including war widows, will be paid arrears in one instalment.
The pension would be re-fixed every five years.
Defence personnel who voluntarily retire will be covered under the One Rank One Pension (OROP) scheme. However, the new pension structure will apply to personnel who have already retired prematurely pension would be re-fixed every five years.
The estimated cost of OROP implementation to the exchequer would be Rs 8,000 to Rs 10,000 crore. Expenditure on arrears would be between Rs 10,000 to Rs 12,000 crore.
One Rank One Pension notification cleared by Centre : India, News - India Today