OROP Pension Table 2023 Revision Table, Arrears Table & News and other essential information are mentioned in this article. The Union Cabinet recently approved the One Rank One Pension (OROP) Scheme for Ex-Servicemen. If you want to know more details about the One Rank One Pension (OROP) Scheme, kindly read the article until the end.
OROP Pension Table 2023
The Union Cabinet of India approved the OROP (One Rank One Pension) Scheme revision on 23rd December 2022, Friday. Under the One Rank One Pension (OROP) Scheme, all retired soldiers of the same or equal rank, along with the same length of their service in the Indian Army, will receive the same pension amount despite their retirement date. The OROP Pension Revision 2023 of the pensioners or the family members of the pensioner will be implemented from 1st July 2019.
The Indian government said that the retired officers of all the Armed Forces (except Pre-Mature Retired), who retired until 30th June 2019, would be covered under the One Rank One Pension (OROP) 2023. According to some reports, approximately 25.13 lakh pensioners and family pensioners from all the Armed Forces will benefit from the One Rank One Pension Scheme 2023.
After the One Rank One Pension (OROP) Revision Approval, the Prime Minister of India, Shri Narendra Modi, uploaded a tweet on his Twitter handle. It said-“Our military, engaged in the service of the nation, is a symbol of people’s pride. Our government is committed to their welfare. Keeping this in mind, the Union Cabinet has approved pension revision under OROP for ex-servicemen and their families.”
OROP Revision Table 2023
The One Rank One Pension (OROP) Revision Approval came after the petition for the extension of time till 15th March 2023 for the OROP Scheme Pension Arrears Payment. According to the OROP Scheme, the future pension of the past pensioners will be re-secured based on their pension’s minimum & maximum average of the retired officers, with the same rank and length of service, in the Defence Force in 2018.
|One Rank One Pension (OROP) Scheme 2023|
|Rank||Pension as of 1st January 2016||Revised Pension w.e.f. 1st July 2019||Likely Arrears from 1st July 2019 to 30th June 2022|
In addition, as per the Press Information Bureau (PIB) notice, the family members of the late pensioners (family pensioners), disabled pensioners, and the war widows of the pensioners will also get the benefits of the One Rank One Pension (OROP) Scheme 2023.
OROP Arrears Table 2023
Under the One Rank One Pension (OROP) Scheme 2023, the arrears will be paid in four instalments to the beneficiaries. But, the arrears will be paid in a single instalment to all the family pensioners, liberalised or special family pensioners, and the Gallantry Award winners. The annual expenditure of the One Rank One Pension (OROP) Revision 2023 can be estimated at INR 8,450 crore approximately, at 31% DR( Dearness Relief).
With impact from 1st July 2019 to 31st December 2021, the arrears are calculated at over INR 19,316 crore on the basis of 17% DR( Dearness Relief) for the 1st July 2019 to 30th June 2021 period. For the 1st July 2021 to 31st December 2021 period, the DR( Dearness Relief) is 31%. Moreover, the arrears with impact from 1st July 2019 to 30th June 2022 can be estimated at INR 23,638 crore, approximately, with applicable DR.
OROP Scheme Latest News 2023
On 7th November 2015, the Indian government issued a policy petition for the One Rank One Pension (OROP) Pension Revision with impact from 1st July 2014. According to that petition letter, future pensions will get re-secured every five years. As per some reports, in the last eight years, approximately INR 7,123 crore per year and INR 57,000 crore in total has been spent on implementing the One Rank One Pension (OROP) Scheme 2023.
The One Rank One Pension Scheme 2023 has been implemented to resolve the gap between the rate of pension of past and current pensioners. If we talk about the equalization of the pension every five years, as mentioned in the policy letter, then the revision of the One Rank One Pension Scheme should happen on 1st July 2019. However, we can say that the Indian Government has taken a welcoming step to resolve the most controversial issues of fixation of pension by implementing the One Rank One Pension Scheme 2023. It is a massive relief for pensioners, especially those who think they are not equally treated.
We are really grateful that you have stayed with us until the end.
What are your views on the One Rank One Pension Scheme 2023? Kindly share them in the comment box below.
Click Here to go back.