Option 3 approved by Cabinet!
Pension High Level Committee had recommended that Option 1 of 7th CPC is not feasible to be implemented. It had reportedly recommended for Option 3. The Press Release of Cabinet meeting indicates today that Option 3 is accepted by the Cabinet and will be implemented w.e.f. 1.1.2016. There are much hype about total expenditure etc, but AIPRPA CHQ suggests to ignore those hype. Please wait for the Government Order to be released as a follow up of the Cabinet decision. After seeing the GO only, we can ascertain what is actually accepted by the Cabinet and to what extent it will be more beneficial than Option 2 (2.57 Fitment Factor). All members are requested to please wait patiently till the GO is released by the Pension Ministry and do not make any educated guesses. This is because of our past bitter experiences in such matters! - KR GS AIPRPA