5 years of One Rank One Pension Scheme.
The one rank one pension scheme of armed forces has completed 5 years of successful journey in 2020. The scheme was redefined in the year 2015. The Government of India has disbursed Rs 42,700 crores to more than 20.6 lakh ex-servicemen till now ever since the scheme was launched.
One rank One pension scheme
Under this scheme, every retired personnel of the Indian Army gets the same amount of pension irrespective of the date the personnel gets retired. The scheme was launched and is in practice since 1947. However, in 1973 the Indira Gandhi government terminated the scheme after 26 years. The scheme was relaunched in 2008 and ran till 2014. On 30th May 2015, the Modi Government again redefined the scheme. Under the scheme, currently uniform pension is given to the retiring defence personnel irrespective of their rank and the length of their service. The pension given under the scheme is equivalent to the 50% of their last drawn salary. Under the current scheme, the Armed personnel who retired on or after June 30, 2014 are covered.
The major concerns of the veterans is surrounding the premature retirees. The one rank one pension system is revised every five years. But the veteran wanted it to be revised every one to two years. Also, the army personals usually gets retired at the age of 35 as opposed to civilian who can continue in service till the age 60. There also exists the possibilities that the other uniformed personnel such as the state police forces and the Paramilitary forces will demand for one rank one pension system.