Comparison of Pension Calculation for 2017 and 2022

 

Comparison of Pension Calculation for 2017 and 2022

If someone says that the Pension has been reduced, then he should retire on the 2017 pay scale. Apart from this, there is no other way to explain, they want the commutation to be higher and the pension to be double that of the retired in 2021. Both benefits you can't have it in same time. They are not seeing the 12 lakh surplus of commutation. It is impossible Pension will double after 30 Jun 2022.

Let check either this argument is right that Pension has been reduced

Let have a case study to comparison retirement after and after 30 Jun 2022

• Date of Birth 26 Jun 1977
• Date of appointment 22 Apr 1996
• Date of Retirement after 30 jun 2022 is 8 Aug 2022 and before 30 Jun 2022 is 22 apr 2022

 Pension Calculator

Thorough above mention Pension Calculator we can easily comparison two case study with different Date of Retirements.

Pension calculation after 1st July 2022

Pension calculation before 1st July 2022

Comparative statement

• Monthly Pension After 1st July 2022 is                                                 57,145.75
• Monthly Pension Before 1st July 2022 is                                              53,634.84
• Commutation Amount at retirement is After 1st July 2022 is            44,82,851.31
• Commutation Amount at retirement is Before 1st July 2022 is         28,97,976.42

Woh woh the yellow highlighted point is commutation which almost Rs. 2 Million more the before 1st july 2022 that was nice increase in Commutation  amount value at time of retirement which is almost in double.