The formation of the 8th Pay Commission for the central government employees and pensioners is a major announcement of the PM Narendra Modi. The commission shall revise the salary and pension structure of central government employees, approximately affecting 49 lakh employees and 65 lakh pensioners.
Salary Hike And Fitment Factor
If we go by the estimates of experts, the fitment factor of the 8th Pay Commission could range anywhere between 2.28 to 2.86 and this should allow a rise in salary for the employees of anything between 40% to 50%. For an employee drawing a basic salary of, say, ₹18,000, the increased salary would then be ₹51,480 if the fitment factor is 2.86. Such an increase shall give the privileges in same proportion likewise to pension.
Commission Formation And Implementation Timeline
Since the term of the 7th Pay Commission will expire in 2026, Ashwini Vaishnaw, Union Minister, stated that the 8th Pay Commission will be constituted in 2025 so that its recommendation can get space for review and implementation. Some other reports, however, say that any special provisions for 8th Pay Commission are missing in Budget 2025, with implementation likely to be delayed.
Effect Of Fitment Factor
The fitment factor is a multiplier through which an increase is applied to the current basic pay of all employees. For instance, in the Sixth Pay Commission, it was 1.86, and in the Seventh Pay Commission it was fixed at 2.57, with an average salary increase of 23.55%. So, this time the fitment factor for the 8th Pay Commission is likely fixed at 2.86, which will raise the minimum basic salary from ₹18,000 to ₹51,480.
Future Prospects
The announcement about the formation of the 8th Pay Commission has been made, but the actual date for it to be set in motion is yet to be decided. Any date of implementation therefore can only be decided after the members of the commission are appointed and recommendations are discussed. Therefore, employees and pensioners should closely watch any official announcements in the matter.
For now, the employees are advised to include the expected hike in salary into their financial goals and plan their expenditures responsibly. Keep away from all hearsay and unconfirmable news about the forthcoming Pay Commission; allegiance should be given to information coming only from official sources.
Also Read: Retirement Age Hike: Will Employees Now Retire At The Age Of 62? See Details
