The government may increase the 10% to 15% salary for the Government employees. There is also a news of 10% increase in pension for the pensioners in the coming budget 2024-2025. There is also a chance for the introduction of pension reforms. The pension reforms may contain the CP Scheme and reduction of gratuity to 25% instead of 35%. However, all will clear during the coming days.
The Latest Salary Increase News Budget 2024-25 for Govt Employees & Pensioners
As per the Daily Express dated 19-05-2024, there are expectations for an increase in pay of the employees @ 10% to 15% of the running basic pay. In the same way, the pensioners may get a 10% increase in their existing pension. There is also a proposal to increase employees’ old age benefit pension. There was also a news of 25% to 35% increase in salary of the Government employees. But nothing final. S0, we have to wait for the day of the date of announcement of Budget 2024-25 for the final decision. The date of the announcement of the Budget is 07 June 2024.
Pension Reforms
The Government has also a Pension reform plan for Government employees and pensioners. As you earlier many news the Government may introduce new pension reforms that as the Contributory Pension Scheme. In this pension scheme, the new recruitment may be shifted to this new pension scheme. The Government may make changes in the pension calculation formula. Recently we had commute @ 35% and Pension % 65% of the total pension of 100%. The government may change the formula to 25: 75. But these are just a piece of news and no final decision. In the coming days and especially during the budget speech all will be cleared.
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