Rs 1,887-cr bonanza for pensioners in Punjab, 3L to benefit

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Rs 1,887-cr bonanza for pensioners in Punjab, 3L to benefit

Rs 1,887-cr bonanza for pensioners in Punjab

Rs 1,887-cr bonanza for pensioners in Punjab, 3L to benefit: In a bonanza for retired Punjab Government employees, Chief Minister Charanjit Singh Channi  directed the Finance Department to pay revised pension with effect from July 1, 2021, to over 3 lakh pensioners.

The move is in line with the 6th Punjab Pay Commission recommendations and will incur an additional expenditure of Rs 1,887 crore during the current fiscal.

Channi also directed that the revised pension be released to the pensioners in one go, a spokesperson said.

Rs 1,887-cr bonanza for pensioners in Punjab, 3L to benefit

The Chief Minister also approved paying retirement benefits, including leave encashment and gratuity, worth around Rs 915 crore to 42,600 pensioners having retired between January 1, 2016, and June 30, 2021, in one go instead of the earlier decision to pay in instalments.

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The spokesperson said both the decisions entailed an expenditure of around Rs 2,802 crore.

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