A Parliamentary panel has criticised the government for amending the formula for calculating pension for employees retiring after first September 2014. The Committee on Subordinate Legislation, in its report, said that the formula, which has resulted in decrease in the amount of benefits, was abruptly amended and amounts to breach of contract. The panel said, the persons who retire up to one day before first September, 2014 will get higher pension on account of calculation based on 12 months average salary. <br/><br/>However, those who retire after that will get substantially lower pension calculated on 60 months' average salary. The report said, at the time of joining the pension scheme, both categories of employees were entitled to receiving pension based on the same formula. It has recommended restoration of the earlier formula in case of all employees who became members of Employees Pension Scheme prior to 22nd August, 2014.