In what can be termed good news for ex-armed forces personnel, the Cabinet on Monday approved a pension plan of Rs 23,00 crore under the 'One Rank One Pension' scheme. Services personnel who have retired before January 2006, will now be entitled to pension almost equal to their counterparts who superannuated after this date. The estimated cost of this proposal will be approx Rs 2,300 crore per annum. The Armed forces have been agitating for One Rank One Pension scheme for quite some time now.
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