India, Oct. 28 -- Just shy of a year since the central government approved the formation of the Eighth Pay Commission, the terms of reference (ToR) have now been okayed for it to begin its work.

Employee unions say that over 50 lakh staff and around 65 lakh retirees/ pensioners will benefit from the next pay revision, which the panel is likely calculate in 18-24 months. Going by historical trends, each pay commission takes around two years from formation to final implementation. But efforts are underway by the government to hasten some of the bureacratic tasks to ensure earlier implementation, reports have said.

The new salaries or pensions will be retrospectively implemented with effect from January 1, 2026. That means, in simpler word...