The Sixth Pay Commission’s recommendations are expected to result in a hike of 30-40% in basic salary of central government employees in various categories. In the current fiscal, the outgo on account of pay and allowances for the government - with an employee strength of over 3 lakh - has been pegged at Rs 46,379 crore.
Sources said the recommendations could also include increase in the retirement age of government employees to 62 years from 60. The commission had called senior bureaucrats to give a presentation. A hike in retirement age would help the government in postponing its pension liabilities by two years. However, a final decision on this would be taken at the highest political level. The government had last raised the retirement age in 1998 to 60 from 58 years when the Fifth Pay Commission recommendations were accepted.
Technorati Tags: 40% hike in basic salary & rise in retirement age to 62 expected in Budget
Technorati Tags: 40% hike in basic salary & rise in retirement age to 62 expected in Budget
