The revised and the updated Pension Calculator 2023-24 Federal, Punjab, Sindh, the Balochistan and KP. This calculator is also be valid for the Azad Jammu and Kashmir and Gilgit-Baltistan pensioners. The Pension calculation sheet for the KPK employees is the different as the compared to Balochistan, Sindh, and the Federal Pensioners.
Pensions Calculator 2023-24 Federal, Punjab, Sindh, Balochistan & KP:
Calculator is valid for the pensioners who retire on or the after 1st July 2023. Pensioners who retire before this date will use the Revised Pension Calculator July 2022 to calculate pension and the commute or gratuity. The Punjab Government increased the pension initially only the @ 5% of net pension, however on the request of the pensioners Govt of the Punjab has been issued the Notification of Pension increase 2023 Punjab the @ 17.5% as other provinces and Federal. Difference between the Punjab and others was only the payment of increased pensions for new pensioners. The Sindh Pensioners will also be have different pension and commute amounts due to changes in 2022. In 2022 The Sindh Government has been issued the different pension calculations as I mentioned in the Commute and Pension Calculator 2022 Sindh pensioners.
The Calculation of Pension for Employees Retired on or after 1st July 2023:
Employees of the Federal, Sindh, Balochistan, and KP who will be retire on or after 1st July 2023 will get the benefit of the pension increase with the effect from 1st July 2023. However, The Punjab Government employees who retired on or the after 1st Aug 2023 will not get the benefit of the pension increase 2023 the Punjab pensioners.
How to the Calculate Pension and Gratuity or Commute:
Pensioners simply can get the details of following by just putting the few values in the pension calculator:
- Pension Amount
- Medical Increase
- Net Pension
- Gratuity or Commute
Calculate pension and commute the pensioners only required the following values:
- Last Drawn Basic Pay
- Total Length of Service
- Age at the time of Retirement
The Last Pay Drawn:
The Last pay drawn is the pay that employee has at that the time of retirement. If the employee retired on or after the 1st June then we shall be also add one Usual Increment in the basic pay to be calculate pension and the gratuity only. In the same way add any pay, the special pay, etc. in basic pay to be calculate pension. Orderly Allowance we also be added to the basic pay to calculate the pension or gratuity.
The Total Length of Service:
Total length of service is the regular service without the any interruption in the service. If the employee has been value of the 6 months or more than the round years we shall add one of year more. Suppose that employee has been 27 years and 7 months of the service we shall be take 28 years of the service. We cannot be enter to more than 30 years of the service in pensions calculator. Employee has been 35 years of the service we shall be take only the 30 years. However, if employee has been 27 years of service we shall be add only 27.
The Age at time of the Retirement:
Age factor is also be important to calculate the pension and the commute. We do not enter the age in pension calculation sheet. However, we shall be enter the age rate that is shown in the pension calculation sheet. Age of the employees is 27 years and one day or the more days, we shall be take the age value of the 28 years.
The Four Different Pension Calculation Sheets 2023-24:
Keeping in view the above the discussion we can be see that there are four different the pension and the commute the calculations 2023-24 for the Federal and the Provincial pensioners. These are under:
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