LOSS IN BASIC PENSION DUE TO INFLATION
Going by the trend of cost-inflation index over the past 17 years, I found that there has been an average compounded rate of inflation at the rate of 6.24% p.a over the last 17 years. The Basic Pension has depreciated at the compounded rate of 5.9% p.a. Our Basic Pension has lost 64.3% of its value it had in 2001-02. The erosion is still more for those who retired before 2001-02.
C H Mahadevan
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