INCREASE IN PENSION – PUNJAB GOVERNMENT NOTIFICATION ​

INCREASE IN PENSION 2024 – PUNJAB GOVERNMENT NOTIFICATION

Govt of the Punjab, Finance Department issued a Notification on 12.7.2024 regarding  increase in pension of civil servants of Govt. of Punjab @ 15% w.e.f. 1st July 2024.

According to the Notification, the Governor of Punjab has accorded sanction of increase @ 15% of net pension w.e.f. 1st July 2024, until further orders to all civil pensioners of the Government of the Punjab.

2. The govt. servants who would retired on or after 1st July 2024 will also be entitled for 15% increase pension as allowed vide Para 12(i) of this Department’s circular letter No.FD-PC-2/2011, 7.5% increase in pension allowed as vide para 1 of this Department’s circular letter No. FD.SR-III-4-259/2015(A), dated 23-07-2015, and a 15% increase in pension 2022 as allowed vide Para 1 of this Department’s circular letter No. FD.SR-III-4-160/2021. Dated 21-08/2022.

3.  It is pertinent to mention here that the 15% increase in pension as mentioned at Para-1 above will not be admissible to the pensioners who would retire on or after 01.07.2024.

4.  For the purpose of admissible increase in pension sanctioned in this circular letter the term “Net Pension” means “ Pension being drawn” Minus “Medical Allowance”.

5.  The increase will also be admissible on a family pension granted under the Pension-cum-Gratuity Scheme, 1954, Liberalized Pension Rules, 1077, on pension sanctioned under the Punjab Civil Service Pension Rules as well as on the Commensurate Allowance.

6.  If the gross pension sanctioned by the government of Punjab is shared with any Government in accordance with the rules laid down in Part-IV of Appendix-III to the Accounts Code Volumer-I the amount of the increase in pension will be appointed between the Government of Punjab and the other Government concerned on proportionate basis.

7.  The increase in pension sanctioned in his circular letter will be admissible on special Additional Pension allowed in lieu of pre-retirement Orderly Allowaocne.

8.  The benefit of an increase in pension sanctioned in this circular letter will also be admissible to those civil pensioners of the Punjab Government who are residing abroad (other than those residing in India and Bangladesh) who retired on or after 15-08-1947 and are not entitled to or are not in receipt of pension increase under the British Government Pension (Increase) Acts. The payment will be made at the applicable rate of exchange.