Sixth Pay Commission: Risk Allowance Withdrawn: Life Medical Insurance: Finance Trading Times

Sixth Pay Commission: Risk Allowance Withdrawn: Life Medical Insurance

The government has now withdrawn the Risk Allowance from the proposed Recommendations of the Sixth Pay Commission. The good news for the employees is that in place of the Risk Allowance, they will now be entitled to get free Life and Medical Insurance of Rs 5 Lakhs each.
Risk Allowance Sixth Pay Commission Insurance

Free Medical and Life Insurance Amounts as per Pay Band

Employees be provided with free medical and life insurance of

Rs.5 lakhs for employees in PB-1 pay band,

Rs.7 lakhs for employees in PB-2 pay band,

Rs.10 lakhs for employees in PB-3 pay band/higher pay bands/scales

However, the bad news is that employees will not get any cash component in the name of Risk Allowance. It will all be unrealized money with free life insurance and free medical insurance.
As per the news details, The amount of the insurance should automatically be increased by 50% every time the DA payable on the revised pay goes up by 50%. The entire expenditure on paying premium for this insurance will be borne by the Government.

The amount insured will be paid in case of any serious injury/death sustained in the course of employment and will be over and above the other benefits available to all categories of Government employees.

These employees should also be provided with additional health benefits with mandatory health check-ups every quarter and enhanced leave, wherever the same is necessary for proper recuperation.

New Pay Band of Defence Force Officers: Sixth Pay Commission

State Wise Salary Hike details are covered in the links of the article: State Wise Salary Hike Details of Sixth Pay Commission. Please refer to the article and click on your respective state wise link for news and other information.

Link To: Dearness Allowance: Sixth Central Pay Commission Recommendation

Link To: Revised Pay Scales, New Pay Bands Finalized by the Government

Link To: Sixth Pay Commission: Perks, Arrears, Increments & Key Points
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1 Comment: Post your Comments

Anonymous said...(on 5 September 2008 at 12:51 )  

Is there any difference in the pension of an employedd retiring after the notification of the SPC and a person retired before the notification but after 1.1.2006

Can anyone clarify?

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