Revised Pension Calculator July 2022

Last Updated on August 4, 2022 by Galaxy World

I have prepared the Revised Pension Calculator July 2022 for the employees retiring on 1st July 2022 or after that date. As you know that Government has increased the pension in July 2022. In this increase pension, Notification, the Government has excluded 5 increases in pension during 2016, 2017, 2018, 2019, and the year 2021. The basic pay of the employees increased nearly 1.5 times. The government merged 5 Adhoc Relief Allowance into basic pay, so the increases in pension during those years were too stopped by Government. The employees who retired prior to 01-07-2022 will continue to get all the above years increases in pension.

 

New Revised Pension Calculator July 2022

 

If we look at the difference between pension with new pay scales 2022 and old pay scales, it is concluded that pensions and commutes with new pay scales are better than the old ones.  Initially, I prepared the pension calculation sheet for Federal Employees. Punjab Government has yet only announced a 10% increase in pension with effect from 1st April 2022. The Notification of the remaining 5% pension increase in Punjab we are expecting soon. This new 5% increase pension will also be the same as Federal and with effect from 1st July. So this calculator can also be used for Punjab Government employees retiring on or after 1st July 2022.  Pension Notification of other provinces depends. I shall update here after I get the Notifications for other provinces too.

 

How does This Calculator Works?

 

This is simply an MS Excel Calculation Sheet. You just have to know the following figures:

 

  • Last Basic Pay
  • Total Length of Service
  • Age Rate that I have given in the calculator

 

If the employee is getting Personal Pay (PP), we shall also add it to the basic pay last drawn. If the employee has more than 30 years of service, we only count 30 years of service for pension calculation.  Suppose an employee has served for 40 years, we shall take only 30. However, if the employee has less than 30 years of service then we shall take the actual figure of his/her service.

 

Results

 

In the calculations sheet we get the following results:

 

  • Gross Pension
  • 35% Pension
  • 65% Pension
  • Medical Increase
  • Commutation/Gratuity
  • Net Pension

 

The only two results are the most requirement of the employee are Commutation or Gratuity and another one is Net Pension.

 

Download Pension Calculator July 2022 Federal Punjab with 10% and Then 5% Increase

 

Download Pension Calculator July 2022 Federal Punjab with 15% Total

 

 

Download KPK Pension Calculator 2022-2023

 

 

Note: The clarification will require whether 1st we add 10% and then a 5% increase on the result or a total of 15%. If 15% total increase we take then the pension becomes a little bit less. 

 

 

Revised Pension Calculator July 2022

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