Salary and pension indexation increased and travel allowance rules amended, with periodic adjustments based on Cost Inflation Index. The Bill raises member salary and pension levels, restructures travel reimbursements by removing the dual rail-fare entitlement and limiting air and steamer fares to single reimbursements, and increases pension floors and per-year additional pension. It establishes that salary, daily allowance, pension and additional pension shall be increased every five years from 1 April 2023 based on the Cost Inflation Index. A commencement clause makes Part V effective from 1 April 2018, and the family pension provision is amended to remove a reference to the earlier amendment Act to avoid retrospective interpretation issues.
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Salary and pension indexation increased and travel allowance rules amended, with periodic adjustments based on Cost Inflation Index.
The Bill raises member salary and pension levels, restructures travel reimbursements by removing the dual rail-fare entitlement and limiting air and steamer fares to single reimbursements, and increases pension floors and per-year additional pension. It establishes that salary, daily allowance, pension and additional pension shall be increased every five years from 1 April 2023 based on the Cost Inflation Index. A commencement clause makes Part V effective from 1 April 2018, and the family pension provision is amended to remove a reference to the earlier amendment Act to avoid retrospective interpretation issues.
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