I joined Usha Martin Limited on 01.02.1974 as Stenographer. I started contributing to Employees Family Pension Scheme from 01.07.1977. I continued my services till 25.12.2002 until my voluntary retirement at the age of 54 years (My Date of birth is 01.11.1948) due to recession in Usha Martin Limited. I was granted Pension from 04.02.2003 at the rate of Rs.900/- per month.
My total service with the employer is 01.02.1974 to 25.12.2002 = 28 years 11 months Say 29 years. PF Authorities says that I was not attained the age of superannuation i.e. 58 years. Therefore, I was not eligible for pension and the pension fixed on reduced rate @3% per annum which comes to Rs.900/- per month.
I understand that after attaining age of 50 years and the period of service is computed from the date of membership of Employees Family Pension Scheme is more than 20 years of service, then eligible for full pension. Can you examine the issue. Uploading the documents for immediate reference
Thanks
From India, Jamshedpur
21My total service with the employer is 01.02.1974 to 25.12.2002 = 28 years 11 months Say 29 years. PF Authorities says that I was not attained the age of superannuation i.e. 58 years. Therefore, I was not eligible for pension and the pension fixed on reduced rate @3% per annum which comes to Rs.900/- per month.
I understand that after attaining age of 50 years and the period of service is computed from the date of membership of Employees Family Pension Scheme is more than 20 years of service, then eligible for full pension. Can you examine the issue. Uploading the documents for immediate reference
Thanks
From India, Jamshedpur
To understand the fixation of your pension , clarity is needed on the Scheme provisions, they are reproduced below.
(xv) "pensionable service" means the service rendered by the member for which contributions have been 7[received or are receivable.
(xii) "past service" means the period of service rendered by an existing member from the date of joining Employees' Family Pension Fund till the 15th November, 1995.
9. Determination of eligible service.
The eligible service shall be determined as follows:
(a) In the case of "new entrant" the "actual service" shall be treated as eligible service. The total actual service shall be rounded off to the nearest year. The fraction of service for six months or more shall be treat ed as one year and the service less than six months shall be ignored.
Explanation.
In the case of employees employed seasonally in any establishment the period of "actual service" in any year, notwithstanding that such service is less than a year shall be treated as a full year.
(b) In the case of the "existing member" the aggregate of actual service and the 'past service' shall
be treated as eligible service.
Provided that if there is any period in the "past service" for which the contributions towards the Family Pension Scheme, 1971 has not been received, the said period shall count as eligible service
only if the contributions thereof have been received in the Employees' Pension Fund.
Explanation: For the purpose of this sub-paragraph the total past service for less than six months
shall be ignored and the total past service for six months and above shall be rounded to a year.
10. Determination of Pensionable Service
(1) The pensionable service of the member shall be determined with reference to the contributions [received or receivable] on his behalf in the Employees' Pension Fund.
(2) In the case of the member who superannuates on attaining the age of 58 years, and/or
who has rendered 20 years pensionable service or more, his pensionable service shall be increased by adding a weightage of 2 years.
14 (7) A member, if he so desires, may be allowed to draw an early pension from a date earlier than 58 years of age but not earlier than 50 years of age. In such cases, the amount of pension shall be reduced at the rate of [four per cent] for every year the age falls short of 58 years]
From the above it is clear that the pension calculation depends on the service rendered after 1995 and as this is a case of early pension there is deduction provided in the rules.
You may visit the respective RPFC Office and seek clarity on the exact calculation made.
From India, Mumbai
(xv) "pensionable service" means the service rendered by the member for which contributions have been 7[received or are receivable.
(xii) "past service" means the period of service rendered by an existing member from the date of joining Employees' Family Pension Fund till the 15th November, 1995.
9. Determination of eligible service.
The eligible service shall be determined as follows:
(a) In the case of "new entrant" the "actual service" shall be treated as eligible service. The total actual service shall be rounded off to the nearest year. The fraction of service for six months or more shall be treat ed as one year and the service less than six months shall be ignored.
Explanation.
In the case of employees employed seasonally in any establishment the period of "actual service" in any year, notwithstanding that such service is less than a year shall be treated as a full year.
(b) In the case of the "existing member" the aggregate of actual service and the 'past service' shall
be treated as eligible service.
Provided that if there is any period in the "past service" for which the contributions towards the Family Pension Scheme, 1971 has not been received, the said period shall count as eligible service
only if the contributions thereof have been received in the Employees' Pension Fund.
Explanation: For the purpose of this sub-paragraph the total past service for less than six months
shall be ignored and the total past service for six months and above shall be rounded to a year.
10. Determination of Pensionable Service
(1) The pensionable service of the member shall be determined with reference to the contributions [received or receivable] on his behalf in the Employees' Pension Fund.
(2) In the case of the member who superannuates on attaining the age of 58 years, and/or
who has rendered 20 years pensionable service or more, his pensionable service shall be increased by adding a weightage of 2 years.
14 (7) A member, if he so desires, may be allowed to draw an early pension from a date earlier than 58 years of age but not earlier than 50 years of age. In such cases, the amount of pension shall be reduced at the rate of [four per cent] for every year the age falls short of 58 years]
From the above it is clear that the pension calculation depends on the service rendered after 1995 and as this is a case of early pension there is deduction provided in the rules.
You may visit the respective RPFC Office and seek clarity on the exact calculation made.
From India, Mumbai
Dear TM Rao, Please collect your "Pension payment Order" from your Bank & peruse the same to get details about quantification of your pension.Further, you have not clarified about your present pension Amount?The Minimum pension is enhanced to Rs1,000/-PM since a long time.As confirmed byKKIHR your EPS Membership is counted from the date of Introduction of Scheme i.e Sep-1995
For your past membership in erstwhile "Family Pension Fund, 1971 DUE WEIGHTAGE SHOULD HAVE BEEN GIVEN
From India, New Delhi
For your past membership in erstwhile "Family Pension Fund, 1971 DUE WEIGHTAGE SHOULD HAVE BEEN GIVEN
From India, New Delhi
Dear KK and Dear Srinath Sairam !
Thank you very much for your support. I am getting hope of getting my full pension after attaining the age of 58 years which is clarified from the following clause :
14 (7) A member, if he so desires, may be allowed to draw an early pension from a date earlier than 58 years of age but not earlier than 50 years of age. In such cases, the amount of pension shall be reduced at the rate of [four per cent] for every year the age falls short of 58 years
From the above, it is clear that the period falls short of 58 years is over i.e. after attaining the age of 58 years eligible for full pension.
Am I Correct ?
Kindly examine the issue. Thank you both once again for this support. Also I understand that some well wishers have formed an All India EPS-95 Sangharsh Samiti for redressal of such problems. I need the contact details like e-mail address, telephone number etc. Thanks once again. Regards.
From India, Jamshedpur
Thank you very much for your support. I am getting hope of getting my full pension after attaining the age of 58 years which is clarified from the following clause :
14 (7) A member, if he so desires, may be allowed to draw an early pension from a date earlier than 58 years of age but not earlier than 50 years of age. In such cases, the amount of pension shall be reduced at the rate of [four per cent] for every year the age falls short of 58 years
From the above, it is clear that the period falls short of 58 years is over i.e. after attaining the age of 58 years eligible for full pension.
Am I Correct ?
Kindly examine the issue. Thank you both once again for this support. Also I understand that some well wishers have formed an All India EPS-95 Sangharsh Samiti for redressal of such problems. I need the contact details like e-mail address, telephone number etc. Thanks once again. Regards.
From India, Jamshedpur
Dear Rao sir,
I regret to submit that:
1 You have sought Pre mature Retirement under VRS
2 You have been drawing EPS from 04/02/2003
3 Your PPO Copy is lying in PNB (0303151) Ashiana Complex, Adityapur.Please Collect the same
4 Please go over to EPFO-SRO-Jamshedpur/Jharkhand & inform them, that you have not been getting the Minimum Pension of Rs1,000/-PM
From India, New Delhi
I regret to submit that:
1 You have sought Pre mature Retirement under VRS
2 You have been drawing EPS from 04/02/2003
3 Your PPO Copy is lying in PNB (0303151) Ashiana Complex, Adityapur.Please Collect the same
4 Please go over to EPFO-SRO-Jamshedpur/Jharkhand & inform them, that you have not been getting the Minimum Pension of Rs1,000/-PM
From India, New Delhi
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