OROP arrears: Revised pensions disbursed to 200,000 pensioners, says govt

By: |
Published: March 15, 2016 10:13 PM

Revised pensions under the 'One Rank One Pension' (OROP) scheme have been given to over 200,000 defence pensioners along with the first installment of arrears, the government said on Monday.

Revised pensions under the ‘One Rank One Pension’ (OROP) scheme have been given to over 200,000 defence pensioners along with the first installment of arrears, the government said on Monday.

It said “revised pensionary benefits” were released to 221,224 pensioners drawing service and disability pensions from the Defence Pension Disbursing Offices, functioning under the Controller General of Defence Accounts.

“The amount along with the first instalment of arrears had been released and credited by the defence ministry to the accounts of these pensioners on March 1,” the statement said.

In the case of the remaining 146,335 family pensioners drawing pension from the Defence Pension Drawing Officers, payment along with arrears was expected to be released by March-end.

The ministry said the additional annual financial increase in grants for OROP came to Rs.7,488.70 crore.

The total arrears to be paid from July 1, 2014 to December 31, 2015 was Rs.10,925.11 crore.

The increase in pensions will cost the defence ministry an additional Rs.4,721.34 crore, with the defence pension liability coming to Rs.64,959.34 crore for 2015-16.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Asia-Pacific to bear the brunt of COVID-19 crisis, may see $31.4-54.3 billion remittance losses: ADB
2PM Kisan: 52.5 lakh farmers benefited in Karnataka; first instalment to be credited: Yediyurappa
3PM Modi launches financing facility of Rs 1 lakh crore under Agriculture Infrastructure Fund