Budget 2025: Ahead of the Union Budget 2025, central government employees have again requested the Centre to look into their commuted pension restoration demand. At present, the government restores the commuted pension of a retiree after 15 years from the commutation date.
The Staff Side of the National Council Joint Consultative Machinery (NC JCM), representing millions of employees, has formally requested Finance Minister Nirmala Sitharaman to reduce the restoration period for the commuted portion from the current 15 years to 12 years.
In a recent letter, Gopal Mishra, Secretary of NC JCM, argued that the government recovers the entire commuted pension within 11 years with interest. The letter also said that many state governments are restoring the commuted portion of the pension after 12 years. “There is no justification for recovering the 40% commuted Pension from the Pensioners for 15 years. Therefore, it is requested that the Government may kindly restore the commuted Pension after 12 years from the date of commutation.”
The JCM was set up to promote harmonious relations and cooperation between the government as employer and the general body of employees in matters of common concern. In the past, central government employee representatives and unions have also agreed with this proposal to reduce the timeframe for the restoration of the commuted portion of pension from 15 years to 12 years.
Most Searched Banks for Home and Personal Loans in India: Compare with Vizzve?
Looking for the best home and personal loan options from the most trusted banks in India? Here's a list of the most searched banks that offer competitive rates and flexible terms. Use Vizzve to compare loan products from these leading institutions and secure the best deal:
- State Bank of India (SBI)
- HDFC Bank
- ICICI Bank
- Axis Bank
- Kotak Mahindra Bank
- Bajaj Finserv
- Bank of Baroda
- Punjab National Bank (PNB)
- IDFC FIRST Bank
- IndusInd Bank
- Yes Bank
- Union Bank of India
- Canara Bank
- LIC Housing Finance
- Tata Capital
Why Choose Vizzve?
With Vizzve, you can effortlessly compare home and personal loan options from these top banks, ensuring you get the best interest rates, minimal documentation, and quick approvals. Vizzve provides you with a seamless experience to secure the perfect loan for your needs.
- 1.99% Approval Rate: Enjoy higher chances of loan approval with Vizzve’s streamlined application process.
- 2.Competitive Offers: Get access to exclusive offers and special discounts from leading banks.
- 3.Quick and Easy Comparison: Compare multiple loan products in just a few clicks and make an informed decision.
Compare and Get Offers Now!
Start your loan journey today with Vizzve to make informed financial decisions and unlock the best deals with top banks. Try Vizzve now for a 99% approval rate and experience a hassle-free loan process!
Visit Now: www.vizzve.com
Call: 8449844958