One Rank One Pension (OROP) is one such burning topic which is been the focus of attention of the public eye yet this issue is been demanded by the Army Forces Personnel from past 40 years. Be that as it may, what precisely is OROP?
What is OROP?
OROP or One rank one pension is the scheme in which retired army officials of the same rank regardless of when they retire or the will receive the same pension.
Till now, the date of the retirement determines the pension which is to be delivered to the army officials. Which says that military workers who got retire early will be supposed to receive less pension as compared to those who retired later.
Importance of OROP
The scheme has given importance to all Ex-servicemen in which will all three service personnel are been included- air force, army, navy.
This plan is given more significance, Since Armed Forces Personnel get to retire at more youthful ages between 35-37 years old and others between 54-56 years old so after their retirement they don’t have any wellspring of pay. To equalize the benefits sum among all the administration authorities paying little heed to their retirement date this plan is turning out to be more imperative for all the Ex-Armed Forces Personnel.
Features of the scheme
- The scheme is effective since July 1, 2014, with 2013 its base year.
- The estimated cost of the scheme is to be Rs 8,000 to 10,000 crore and will increment in future.
- Around three million military workforce workers are securely covered under the OROP.
- The pension amount is to be paid in four half yearly installments in which all widows of the veterans army officers are included in the scheme.