Cumulative losses for retirees of the various retirement groups as at 31/3/2024

I attempted to calculate cumulative losses for retirees of the various retirement groups  as at 31/3/2024 taking the benchmark  pension as one arising out of the latest wage revision effective from 1/8/2022.

The comparative maximum basic pensions common for all retirement groups were taken for comparison.

Taking the revised Pension Anomaly Chart as at 29/2/2024 as the basis  prepared after the notification of revised wages w e f 1/8/2022, I used a condensed format  for calculating existing pension received from the immediate effective date of wage revision for the various groups upto the latest Group 7 of retirees retired after 1/8/2022 up to 31/7/2022 , revised pension payable on comparable higher pension rate from the next wage revision date  on to the latest wage revision date effective from 1/8/2022 as at 31/3/2024 .The cumulative number of DR rates taken for calculating cumulative  pension received  and pension receivables are given in the  attached  document in Tables 1 & 2 respectively .

Table 3 summarises the comparative gross  monthly pension for all cadres for  all groups of retirees  for the months February 2024 to July 2024 culled out from the latest  Pension Anomaly Chart .

Table 4 gives the cumulative loss suffered by retirees in various cadres of various retirement groups as at 31/3/2024.

While calculating the pension received by Group 1 & 2 retirees , I have bifurcated the DR slabs upto 28/1/2007 and those received from 29/1/2007 as paid by LIC on implementation of Delhi High Court judgment dated 27/4/2017. 

It is a ready reckoner of the amounts due to the retirees on upgradation  although we are not sure whether  LIC will concede the same or what type of relief we shall receive from the Supreme Court in its verdict. These calculations have been made by me only to estimate the extent of loss suffered by the retirees on account of non-upgradation of pension over a period upto 25 years.

Those conversant with calculations may kindly verify the calculations and point out any error for rectification, if any.

C H Mahadevan

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