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Govt. Passed OROP : What Is One Rank One Pension Scheme Highlights Details

Govt. Passed OROP : What Is One Rank One Pension Scheme Highlights Details : OROP is same pension, for same rank and for the same length of service, irrespective of the date of retirement, was the basis for determining the pension and benefits of Indian Armed Forces till 1973. Defence minister Manohar Parrikar said on Saturday that the government has decided to implement the “one rank, one pension” scheme. In a statement issued by Defence Minister, he said “Despite huge financial burden, the government has taken a decision to implement the One Rank One Pension.Benefit of OROP will be given with effect from July 1, 2014, a date immediately after the present government assumed office”. Govt. has accepted all demands of veterans except annual revision of Pension. Now below get complete details of Govt. Passed OROP What Is One Rank One Pension Scheme Details.

Govt. Passed OROP What Is One Rank One Pension Scheme Highlights Details

One Rank One Pension Scheme Highlights

1. OROP will be implemented from July 1, 2014 and the base year would be 2013.

2. The estimated cost to implement OROP would be between Rs 8,000 crore to Rs 10,000.

3. Pension of ex-servicemen will be revised every five years.

4. Re-fixed pension will be the average of minimum and maximum pension in 2013.

5. OROP arrears to be paid in 4 half-yearly installments.

6. Those drawing pensions above the average will be protected.

7. A one-member judicial committee will be constituted. It will give reports on equalisation period in 6 months.

8. Personnel who retire voluntarily will not be covered under OROP scheme.

Source : TOI

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