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Home / Finance / Banking / What Is One Rank One Pension?
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What Is One Rank One Pension?

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0 2022-08-17T10:28:05+00:00

Defense Personnel dedicate their whole lives for the safety of the nation and I am astonished how our government is very much reluctant to think about them. My uncle was an army personnel and he tired about 10 years ago and his son is now in the same line. However my cousin was telling me that the money that gets allocated after one’s retirement changes various aspects like rank, time duration of service and more. I never did ask him about this and when he started explaining to me, he asked me whether I knew what is One Rank One Pension Policy or not and honestly I had no idea about it either. So if you too want to know these details, I can tell you about them here.

 

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What is meant by One Rank One Pension?

One Rank One Pension or OROP denotes a uniform pension for the defence personnels retiring in the same rank having the same duration of service regardless of in which year they retired.

 

What is One Rank One Pension scheme?

This scheme bridges the gap between the rates of pension of current and past pensioners at periodic intervals. This scheme was initiated in the year 2014 from 1st July with 2013 as the base year and the personnels who retired by June 30 of the same year gets covered under this scheme. 

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what is one rank one pension

 

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