Union Government gives permission to One Rank One Pension scheme [ Current Affairs ]
About One Rank One Pension Scheme: OROP scheme will provide to the ex - servicemen of same rank and same length of service uniform pension irrespective of date of retirement. The benefit will be given with effect from 1st of July 2014 and it will benefit all three services - Army, Navy and Air Force.
- Pension will be re - fixed every five years.
- Future enhancements in rates of pension would be automatically passed to the past pensioners.
- Armed forces personnel who retire voluntarily would be not covered under OROP scheme.
- However, it will be applicable to personnel who have already retired prematurely.
- All debts will be paid in four half - yearly installments and all widows will be paid debts in one installment.
- OROP scheme implementation would be around 8000 crore rupees to 10, 000 crore rupees at present and it will increase further in future.
- Union Government has given permission to implement One Rank One Pension scheme for ex - servicemen.
- It was announced by Union Defence Minister Manohar Parikkar in New Delhi.
- Published on: September 8, 2015