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7th Pay Commission News: Retirement Age Increased To 62 With 23.39 Per Cent Salary Hike In THIS State | Find Out Here
7th Pay Commission: In a meeting with the representatives of the Employees' Union, Andhra CM YS Jagan Mohan Reddy made the announcement to increase the retirement age to 62 years and a salary hike of 23.39 per cent.
New Delhi: Andhra Pradesh government has good news for its employees. In fact, the state employees have two reasons to celebrate as per the latest 7th pay commission news. The state has decided to increase the age of retirement from 60 to 62 years. Along with that, the salary will also be hiked by 23.39 per cent.
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In a meeting with the representatives of the Employees’ Union, Andhra CM YS Jagan Mohan Reddy made the announcements. The meeting also discussed other issues related to the employees.
Salary Hike: What Are The Changes
- According to the announcements made by the government, the change will be effective from July 1, 2018.
- But the economic benefits will be given from April 1, 2020.
- The hiked salary will be paid from January 2022. This means, from this month onwards, the employees will get an increased salary.
- The state government also said that this step is expected to put additional pressure of Rs 10,247 per annum, on the exchequer.
- However, this will impact the lives of thousands of state government employees, in a positive way.
DA, Insurance, Provident Fund Also To Be Given
Additionally, the state announced that the outstanding Dearness Allowance (DA) will be paid along with the salary of January 2022. The remaining dues including the provident fund, insurance etc, will be settled latest by April 2022.
However, the final decision on the Contributory Pension Scheme will be taken by a committee by June 30, 2022. The committee is headed by the Chief Secretary of the state.