7th Pay Commission Update: Retirement Age To Be Raised to 62 with 23% Salary Hike

There is good news for the government employees. The Andhra Pradesh government has decided to increase the age of retirement from 60 to 62 years. Along with that the salary of these employees will also be increased by 23.39 percent. 

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy made the statements in a meeting with Employees' Union representatives. Other issues concerning the staff were also covered at the meeting. 

What Has Changed With The Salary Increase? 

• According to the government's declarations, the change will take effect on July 1, 2018.

• The economic gains, on the other hand, will begin on April 1, 2020.

• From January 2022, the increased wage will be paid. This means that starting this month, employees will receive a raise in pay.

• The state government further stated that this action will put an additional burden on the exchequer of Rs 10,247 per year.

• However, this will have a favorable impact on the lives of thousands of state government employees.

DA, Insurance, and Provident Fund will also be provided 

The state also announced that the outstanding Dearness Allowance (DA) will be paid with the January 2022 salary. The remaining debts, such as provident fund contributions and insurance premiums, will be paid by April 2022 at the latest.  

A committee will make the ultimate decision on the Contributory Pension Scheme by June 30, 2022. The committee is chaired by the state's Chief Secretary.