One Rank One Pension Scheme completes five years: All you need to Know

One Rank One Pension Scheme completes five years: All you need to Know


One Rank One Pension Scheme completes five years
: On November 7, 2020, Prime Minister Narendra Modi announced that One Rank One Pension Scheme  plan of Indian Armed Forces has finished 5 years of fruitful excursion. The Government of India has dispensed Rs 42,700 crores to more than 20.6 lakh ex-servicemen over the most recent five years. 

One Rank One Pension Scheme completes five years: All you need to Know

Right now uniform annuity is given to the resigning guard work force independent of their position and the length of administration. This is half of their last drawn compensation. The Armed work force who resigned on or after June 30, 2014 are covered under the plan. 

One Rank One Pension Scheme 

Under the plan each resigned staff of the Indian Army will get a similar measure of annuity independent of the date he resigns. The plan was practically speaking since 1947. Following 26 years, in 1973e-, the Indira Gandhi government ended the plan. Again the plan was presented in 2008 and ran till 2014. 

Rank compensation 

The idea of rank compensation was presented in 1986. The framework influenced a great many resigned officials of the apparent multitude of three-military. It was suggested by the fourth Central Pay Commission. 

Koshiyari Committee 

The panel presented its report in 2011. It was a 10 part advisory group shaped under the chairmanship of Bhagat Singh Koshyari. The board characterized One Rank One Pension as a uniform benefit to be paid to the military faculty who are resigning in a similar position with the same length of administration. This is independent of their date of retirement. 

Significant concerns 

The primary worries of the veterans is around the untimely retirees. The One Rank One Pension Scheme framework awards modification at regular intervals. In any case, the veteran needed to be changed each one to two years. 

Normally the Jawan resign at 35 years old and non-military personnel can proceed in administration till 60. There are conceivable outcomes that the other formally dressed staff, for example, the state police powers and the Paramilitary powers will interest forOne Rank One Pension Scheme framework.

Also Read:

Small Arm Weapons of Indian Armed Forces: Check List Here

No comments