Important highlights of OROP.
The One Rank One Pesnion Scheme will be effective from July 1, 2014.
Defence personnel who voluntarily retire will not be covered under the One Rank One Pension (OROP) scheme.
Arrears will be paid in four half-yearly installments. All widows, including war widows, will be paid arrears in one installment.
The pension would be re-fixed every five years.
The estimated cost of OROP implementation to the exchequer would be Rs 8,000 to Rs 10,000 crore. Expenditure on arrears would be between Rs 10,000 to Rs 12,000 crore.
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