The government has announced significant changes to the pension calculation system, introducing new restrictions and conditions, according to an official notification issued on Wednesday.
Under the new policy, pensions will be calculated based on the average salary of the last 24 months instead of the final drawn salary. Additionally, employees will no longer be allowed to receive multiple pensions.
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The changes will not apply to employees opting for voluntary retirement. Moreover, incremental raises in the final year of service will be excluded from pension calculations.
For existing pensioners, the pension increment system has been revised, with family pensions now being determined based on net pension values. The notification also clarified that:
- The number of days worked in the retirement month will count as a full month for pension calculations.
- Final-year salary increments will not be considered in pension calculations.
- Family pensions will be calculated based on net pension figures.
These adjustments aim to streamline pension disbursements and ensure a more structured approach to retirement benefits.
