Pension Calculation
- Minimum qualifying service for eligibility in pension is 10 years.
- Full Pension is applicable for qualifying service of 20 years or more.
- For qualifying service between 10 and 20 years, proportionate reduction in pension is applicable.
- Full pension = 50% of Last Basic Pay.
- Maximum ceiling of pension = Rs. 1,00,500/-
- Minimum amount of pension = Rs. 8,500/-
Illustration
- For a service period of 33 years and last basic pay of Rs. 30,000/-, pension will be Rs. 15,000/-.
- 20 years of service period and last basic pay Rs. 30,000/-, pension will be Rs. 15,000/-
- 15 years of service period and last basic pay Rs. 30,000/-, pension will be Rs. 15000*15/20 = Rs. 11250/-
- 8 years of service period and last basic pay Rs. 30,000/-, pension will be Rs. NIL.