I am working in private firm since 1981 and attaining superannuation in June 2015 after completing 34 years. From join and till date my as well as my employer contribution is on full salary and pension contribution was also on the full salary not on Rs.6500/- ceiling. My past twelve month salary average will be around Rs.51000/- . As on 16.11.1995 my salary is Rs.2750/-. Please let me know How pension I will receive. My DOB is 5 june 1957.
From India, Vijayawada
3From India, Vijayawada
Dear Eyetexmohan,
Your past service benefit is 105 x 4.485 = 471. But last twelve months' average of salary has no role in pension calculation. From 01.09.2014 onwards pensionable salary is average of last 60 months. Hence kindly furnish average of last 60 months.
Abbas.P.S
From India, Bangalore
Your past service benefit is 105 x 4.485 = 471. But last twelve months' average of salary has no role in pension calculation. From 01.09.2014 onwards pensionable salary is average of last 60 months. Hence kindly furnish average of last 60 months.
Abbas.P.S
From India, Bangalore
My average salary for the last 60 months will be Rs.42000/-. Now Please tell me the pension amount, I may receive upon completion of 58years.
From India, Vijayawada
From India, Vijayawada
Dear Eyetexmohan,
Your pension for pensionable service(w.e.f 16.11.1995) may be around Rs.11700 and total pension may be Rs. 12200. But I have to add some more details.
Initially the pensionable service was rounded up for a fraction of 6 months and above. According to this calculation, pensionable service has to be rounded up to 20 years. For 20 years pension is calculated as 20x42000/70 = 12000. For those completing 20 years (in superannuation pension) two years bonus will be added; for 22 years (thus arrived) pension will be 13200. But as practically the fraction is taking into account, there is only very less chance to get these benefits.
Abbas.P.S
From India, Bangalore
Your pension for pensionable service(w.e.f 16.11.1995) may be around Rs.11700 and total pension may be Rs. 12200. But I have to add some more details.
Initially the pensionable service was rounded up for a fraction of 6 months and above. According to this calculation, pensionable service has to be rounded up to 20 years. For 20 years pension is calculated as 20x42000/70 = 12000. For those completing 20 years (in superannuation pension) two years bonus will be added; for 22 years (thus arrived) pension will be 13200. But as practically the fraction is taking into account, there is only very less chance to get these benefits.
Abbas.P.S
From India, Bangalore
Dear Mr.Abbas, Thank you very much for the information. But, I came to understand from my office that unfortunately the online system accepts pension contribution on par with the ceiling wages automatically and cannot be changed. Hence I may not get the pension as stated. Any how, once again thank you for the information.
From India, Vijayawada
From India, Vijayawada
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