8th CPC Pension Estimates: It’s not just central government employees, but pensioners have also been keenly following 8th Pay Commission developments. Some of the current employees who are on the verge of retirement also want to know the estimated pension they will get once they retire and when the new pay commission recommends payout revision. In this write-up, see 4 fitment factor projections for employees who are about to retire as Grade Pay 1900, 2400, 4200 or 4800 employees or have already been getting a pension equal to pensioners in the same slabs.
How pensioners are benefited in new pay commission
When a pay commission’s recommendations are implemented, the fitment factor, which is a multiplier for salary and pension revisions, is applied to the pension amount as well.
As a result, the basic pension is revised.
Like it happened when the 7th Pay Commission was implemented, the basic pension was multiplied by 2.57 times.
So, if the basic pension of a pensioner was Rs 10,000, it was jumped to Rs 25,700 after a 2.57 fitment factor was applied by the 7th CPC.
8th Pay Commission fitment factor
The fitment factor for the new pay commission will be known once the 8th CPC is formed and its recommendations are implemented.
Various estimates and expert opinions suggest it can be in the range of 1.92 to 2.57.
Calculations for story
Based on Grade Pay 1900, 2400, 4200, and 4800 employees’ basic salaries, we will take 8 pension amounts (half of the employee’s last 10-month average basic pay) to calculate the estimated revised pension at 2.08, 2.28, 2.57, and 2.86 fitment factors.
Our pension slabs are Grade Pay 1900 (basic pension Rs 13,000 and Rs 15,100), Grade Pay 2400 (basic pension Rs 18,200 and Rs 20,500), Grade Pay 4200 (basic pension Rs 22,450 and Rs 26,000) and Grade Pay 4800 (basic pension Rs 35,000 and Rs 40,600).
Estimated revised basic pension for Rs 13,000 payout
| 1.92 | At 1.92 fitment factor | ₹ 24,960 |
| 2.08 | At 2.08 fitment factor | ₹ 27,040 |
| 2.28 | At 2.28 fitment factor | ₹ 29,640 |
| 2.57 | At 2.57 fitment factor | ₹ 33,410 |
Estimated revised basic pension for Rs 15,100 payout
| At 1.92 fitment factor | ₹ 28,992 |
| At 2.08 fitment factor | ₹ 31,408 |
| At 2.28 fitment factor | ₹ 34,428 |
| At 2.57 fitment factor | ₹ 38,807 |
Estimated revised basic pension for Rs 18,200 payout
| At 1.92 fitment factor | ₹ 34,944 |
| At 2.08 fitment factor | ₹ 37,856 |
| At 2.28 fitment factor | ₹ 41,496 |
| At 2.57 fitment factor | ₹ 46,774 |
Estimated revised basic pension for Rs 20,500 payout
| At 1.92 fitment factor | ₹ 39,360 |
| At 2.08 fitment factor | ₹ 42,640 |
| At 2.28 fitment factor | ₹ 46,740 |
| At 2.57 fitment factor | ₹ 52,685 |
Estimated revised basic pension for Rs 22,450 payout
| At 1.92 fitment factor | ₹ 43,104 |
| At 2.08 fitment factor | ₹ 46,696 |
| At 2.28 fitment factor | ₹ 51,186 |
| At 2.57 fitment factor | ₹ 57,697 |
Estimated revised basic pension for Rs 26,000 payout
| At 1.92 fitment factor | ₹ 49,920 |
| At 2.08 fitment factor | ₹ 54,080 |
| At 2.28 fitment factor | ₹ 59,280 |
| At 2.57 fitment factor | ₹ 66,820 |
Estimated revised basic pension for Rs 35,000 payout
| At 1.92 fitment factor | ₹ 67,200 |
| At 2.08 fitment factor | ₹ 72,800 |
| At 2.28 fitment factor | ₹ 79,800 |
| At 2.57 fitment factor | ₹ 89,950 |
Estimated revised basic pension for Rs 40,600 payout
| At 1.92 fitment factor | ₹ 77,952 |
| At 2.08 fitment factor | ₹ 84,448 |
| At 2.28 fitment factor | ₹ 92,568 |
| At 2.57 fitment factor | ₹ 1,04,342 |
(Disclaimer: These are projections. Actual pension calculations may vary.)
