Here is the second phase of updates for the 7th Pay Commission applicable for both central and state government employees as well as public sector undertaking leaving apart public sector banks.
- Grade pay to be abolished. No Grade pay for Government employees now.
- Bay Band also to be abolished for Central Government employees.
- Total impact only on central govt employees leaving apart PSU would be around 1.2 Lakh Crores.
- Annual Hike to be maintained at 3%
- To be implemented from 1st January 2016.
- Retirement age to be fixed at 60 Years , no change in retirement age for central government employees.
LIC AAO SALARY please visit to know salary of AAO in LIC
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