Govt Approves ‘One Rank One Pension’ Revision, 25L Personnel To Benefit
The Union Cabinet approved the revision of pension for defense personnel under One Rank One Pension scheme, at an additional annual expenditure of ₹8,450 cr.
Friday’s announcement by the Union Cabinet was that it had approved revisions to the pension system for defense personnel under the One Rank One pension regime.
The central government’s budget will be under more financial pressure from the new revision.
This will result in an increase of Rs 8.450 crore for the government, according to reports. This will be a benefit to 25,13,002 defense personnel.
Anurag Thakur, Minister of Information and Broadcasting, stated in a press conference the government would disburse Rs 23,638 crore to arrears between July 2019 and June 2022.
Pensions for past pensioners will be re-fixed based on average minimum and maximum pensions of defense forces retirees in calendar year 2018. They would be of the same rank and have served the same amount of time.
This revision will cover all retired military personnel up to June 30, 2019, excluding premature retirements who took effect on July 1, 2014. The average draw will be eligible for pension.
An official statement stated that the benefit would also be extended for family pensioners including war widows or disabled pensioners. Four half-yearly installments will pay arrears.
All family pensioners, even those who have received a family pension or gallantry award winner, will be paid arrears in one installment.
This decision will benefit more than 25.13 million veterans. “My gratitude to the Prime Minister, for fulfilling the promise given to the Ex servicemen of this country,” Rajnath Singh, defense minister, tweeted.
“You all know that One Rank One pension was a long-standing demand from our Army veterans. However, no previous government has paid attention to it.” The demand was fulfilled when PM Modi became president in 2014. The OROP was launched in 2015 with effect from 2014.
The minister announced that the arrears would be paid in four equal monthly installments, but the minister said that family pensioners and family pensioners as well as gallantry award recipients or family pensioners will receive the arrears in one installment.