Increase in Pension – How to Calculate 15% Increase in Pension of 2024
As you know, the Federal Govt, and All Provincial Governments have issued notification of Increase in Pension @ 15% w.e.f. 1st July 2024 which is admissible to all pensioners and family pensioners who retired prior to 1st July 2024. This increase in pension @ 15% will also be admissible to the govt employees who would retire on or after 1st July 2024. But this increase will not be admissible to the employees of Govt of Punjab who would retired on or after 1st July 2024. The increase in pension will be calculated on net pension and Net Pension means pension being drawn minus medical allowance. For example, a pensioner who is receiving lump sum amount Rs.75400 as monthly pension which includes Rs.7846 as medical allowance. Now the increase in pension will be calculated as :
Total Monthly Pension = 75400 – 7846 = 67554 Pension without Medical Allowance
15% Increase in Pension = 67554 x 15/100 = Rs.10,133
Total Pension after Increase: 75,400 + 10,133 = Rs.85,533
Beautiful information. Thanks
My pension is 60 339 at present.I am drawing my pension RS 60225 what will be my pension with medical allowance in July by increasing 15/ .1 was retired in grade 16 B.
I retired in Feb’01-02-2001
I hope you be kindly send me my next salary .How much will it increase.
Your
Well-wisher
Mirza Ashfaq Baig
From Punjab Education Dept:
I had sent u a humble request for my restoration of commuted pension but no reply yet I ve received
My date of retirement:- 01-02-2001
Date of birth;- 01-07-1951
Date of appointment:-24-03-1975
Period of service.26 years.
Date of restoration of pension 01-02-2024
Salary Before restoration:- 36339
Salary now I am receiving;-60224/60339
Kindly tell and help me is it right salary after commutation
Retired from Punjab Education . Dept:- retired in B.B.S 16 B
Your’s
Well-wisher
Mirza
Why medical allowance is not increased by 15 % where as doctors fees and prices of medicines gave increased 300 % please.