No.FD.SR-III-4-58/86
Dated the 27th July 1987
SUBJECT: INDEXATION OF PENSION TO THE PENSIONERS OF THE PUNJAB GOVERNMENT
The Governor of the Punjab has been pleased to direct that with effect from 1st July 1987 the pension of all the existing pensioners who have retired between 01.07.1986 and 30.06.1987 (both days inclusive) would be indexed at the rate of 4% of gross pension. Those who have retired earlier will continue to draw the indexation already allowed to them in addition to the indexation now being allowed.
- For the purpose of indexation the term ‘pension’ means gross pension, i.e. pension before commutation and/or surrender of 1/4th thereof including any dearness/ad-hoc increases in pension sanctioned from time to time in the past.
- If a person is in receipt of more pensions than one, the pension will be aggregated for the purpose of these orders.
- The indexation will also be admissible on the net amount of family pension as well as on the compassionate allowance plus dearness/ad-hoc increases sanctioned in the past and where admissible.
- If the gross pension sanctioned by the Punjab Government is shared with any other Government, the amount of index will be apportioned between the Governments concerned on proportionate basis.
- The commutation of any part of indexed amount will not be permissible.
- 7. The benefit of indexation of pensions sanctioned in this letter will also be admissible to those pensioners of the Punjab Government who are residing abroad (other than those residing in India and Bangladesh) who retired on or after 15.08.1947 and are not entitled to , or are not in receipt of, pension increases under the British Government’s Pension (Increases) Acts. The payment will be made at the existing official rate of exchange.
- All existing rules and orders on the subject shall be deemed to have been modified to the extent indicated above. All existing rules and orders not so modified shall continue to remain in force.