This post is about the pension rules. The pension amount is given to the government servant after completing ten years of satisfactory service. Pension granted to civil servants who retire from services. To get a pension minimum of 10 years of service is mandatory. If the pensioner died after retirement then the family pension is granted to his family termed as family pension. The finance department issued the notification in which the diseased civil servant’s family will get a salary with usual increases till the date of the supernation. It is advised that do not take pension before the age of 60 years.
Types of Pension
We will discuss types of pension here.
Invalid pension awarded to civil servant due to illness or any other reason. Minimum 5 years of service mandatory for this type of pension. If the government civil servants are unable to work due to illness then the pension awarded to civil servants termed as invalid pension.
Pension Calculation Components
- Basic Pay
- Length of Service in years
- Age of Civil Servant
- Age Rate
- (If the age is even more than one day from the full years, then the next full year will be counted. The maximum service limit is 30 years while calculating pension.
The term basic pay will consider last pay. The civil servant retires after 1st June then an annual increment will grant. If the civil servant is drawing personal pay or special pay then it will include in basic pay.
Length of Service
The maximum length of service is considered 30 years while calculating pension. If the civil servant has more than 30 years of service in his credit then only 30 years will be considered for pension purposes.
Compute or gratuity is a lump sum amount awarded to a civil servant on retirement. For calculation of gratuity, we should know the age rate of a civil servant. The age at the time of retirement will count for the calculation of age pension. . For example, if the age of an employee is 42 years and 15 days, then 43 years will be counted for the calculation of pension.
For this purchase year, the term used. The lump-sum amount awarded to the civil servant is awarded to the age rate. This is calculated on age and age rate. For example, if the age of employees on retirement is 30 years then the age rate will 30.5869.
Gross pension is the net amount awarded to a civil servant on monthly basis. It depends on the civil servant that he wanted to receive 100% on monthly basis or can compute the pension according to pension rules.
On 30-11-2001 pension rate was 50:50. During the period 01-12-2001 to 30-06-2005, this ratio remained 60:40. After 01-07-2005 pension ration is 65:35.
Family Pension Ratio
Family pension ratio was 50:50. Ater 01-07-2010 the ration 75:25. According to this scheme 25% commute will award to the deceased family.