Bsnl Pension Commutation Formula
Where the pensioner has been refused conversion for medical reasons or if, after having once refused to accept the conversion on the basis of the addition of years to his actual age recommended by the medical authority, he requests a second medical examination, that medical examination shall be carried out after one year of the first medical examination. (a) in the case of an applicant who receives his pension from a treasurer or accountant, the reduction of the pension resulting from the conversion shall take effect from the date of receipt of the commuting value of the pension or at the end of three months after the power of the accounting officer to pay the commuter value of the pension; based on the earlier date and the principal amount of the fluctuating value of the pension, it is calculated by reference to the purchase value for each next anniversary, as set out in the table of values prescribed from time to time and applicable to the applicant on the date of conversion. The switching table of 1.3.1971 prescribed by the Government is still in force. I am completely 15 years old and I retired from rail service on the 31st. October 2006, my date of birth is November 1, 1946 and the appointment date is November 1. September 1970 My reduced pension has not yet been restored. When to restore it. Pendulum amount: The amount of the government employee`s pension is Rs.32000/- at the time of retirement, he/she commuted 40% of his/her pension, then the commuting amount is 40% of Rs.32000, i.e. 12800 is the commuting amount here.
The amount of the commuting pension is reinstated after 15 years from the date of conversion or the date from which the pension was reduced by the PDA. I had taken vrs on April 7, 2020. I had 40% comutated. My pension department told me that the bank would pay me the amount of the comutation since I took over the VRS bank, saying that they will not pay because the amount of the comutation is written in ppo zero. The section on pensions says that I did 40% comutation. Please advise on what I should do now. Rule 7: The applicant, with Rule 13 or Rule 19, in Form 5, to submit a proposal granting one or more persons the right to receive the commuting value of the pension in the event that the claimant dies without receiving the commuting value from the day the conversion became absolute. Pensioners receiving the following types of pensions may move after 40% of their pension without a medical examination if they apply for conversion before the end of a year: The following categories of pensioners may commute part of their pension after having been medically examined and declared fit by the competent medical authority: In principle, all employees of the State are entitled to: a percentage of the monthly amount of his pension, a staff member is entitled to commute for a lump sum not exceeding 40 per cent of his pension.
If the percentage of the pension to be converted is a fraction of a rupee, this fraction of a rupee is ignored for the purposes of conversion – Rule 5 If the applicant dies without receiving the fluctuating value after the conversion has become absolute, the commuting value is paid to his legal heirs. Check eligibility here to restore the commuting portion of the pension No government employee involved in ministerial or legal proceedings before or after retirement can commute a portion of their pension. A civil defence pensioner who retired on or after 1 January 1996 may commute a fraction of the maximum of 40 per cent of his pension. Civilian pensioners from the Ministry of Defence, who had retired before 1 January 1996, were able to commute between a fraction that did not exceed one third of their pension. It is the ministry that must pay as well as the payment of Gpf, the redemption of holidays etc.at the time of retirement itself. If they haven`t already done so, they also wrote the conversion amount as zero in ppo, obviously the department has to pay, not the bank. So please write to yr deptt. Pendulum factor = Let`s take an example, age The next birthday is 42, then the switching value is 9.059 according to the switching table I demanded a full pension and stopped the deducted commutation pension. What should I do for this? (i) the medical authority which previously examined it and the date on which the examination took place, (ii) the place where it was examined, (iii) the opinion of the medical authority, (iv) the date of birth and the date of retirement, (v) the designation of the post held at the time of retirement, (vi) the amount of the pension authorized; (vii) the percentage of the pension initially claimed for conversion. . . .