April 7, 2016 4:13:36 am
The Union Cabinet Wednesday gave its ex-post facto approval for the implementation of One Rank One Pension (OROP). The benefit will be extended to the ex-servicemen community with effect from July 1, 2014.
According to the official statement, the Cabinet cleared the payment of arrears in four half-yearly instalments. Financial implications on account of grant of OROP, including the Pre-Matured Retirees cases, would be Rs 10925.11 crore for payment of arrears and annual financial implication would be Rs 7488.7 crore.
The Defence Ministry said that 15.91 lakh pensioners had been given the first instalment of OROP till March 31, which amounts to Rs. 2,861 crore. “The Reddy committee will help in the removal of anomalies that may arise in the OROP implementation,” the statement added.
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