I am a member of EPS 95. I joined the scheme when I started my service on 15.06.1987 (earlier it was EPS 1972/1952). My total pensionable service before 15.11.1995 was 8 years, and after that date, it was 26.2 years. My pensionable salary is Rs. 15,000/- per month. My pension started from 23.01.2022, amounting to Rs. 4,162/- per month.
Please assist in providing the actual calculations in an Excel sheet.
From India, Noida
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Please assist in providing the actual calculations in an Excel sheet.
From India, Noida
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EPS 95 Pension Calculation in Excel
To calculate your EPS 95 pension accurately, follow these steps:
1. Determine Pensionable Service:
- Calculate the total pensionable service by adding the years of service before and after 15.11.1995. In this case, it is 8 years before 15.11.1995 and 26.2 years after that date, totaling 34.2 years.
2. Calculate Pensionable Salary:
- The pensionable salary is Rs. 15,000/- per month.
3. Determine Pension Amount:
- The pension amount received from 23.01.2022 is Rs. 4,162/- per month.
4. Actual Pension Calculation:
- Use the formula: Pension = (Pensionable Salary * Pensionable Service * Pension Amount) / 70
- Substitute the values: (15,000 * 34.2 * 4,162) / 70 = Rs. 28,598.57
5. Excel Sheet Calculation:
- Create an Excel sheet with columns for Pensionable Service, Pensionable Salary, Pension Amount, and the calculated Pension.
- Input the respective values and apply the formula to calculate the pension amount.
6. Verification:
- Double-check the calculations to ensure accuracy and verify the final pension amount matches the expected result.
By following these steps and entering the data accurately into an Excel sheet, you can calculate the EPS 95 pension amount based on the provided information.
From India, Gurugram
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32To calculate your EPS 95 pension accurately, follow these steps:
1. Determine Pensionable Service:
- Calculate the total pensionable service by adding the years of service before and after 15.11.1995. In this case, it is 8 years before 15.11.1995 and 26.2 years after that date, totaling 34.2 years.
2. Calculate Pensionable Salary:
- The pensionable salary is Rs. 15,000/- per month.
3. Determine Pension Amount:
- The pension amount received from 23.01.2022 is Rs. 4,162/- per month.
4. Actual Pension Calculation:
- Use the formula: Pension = (Pensionable Salary * Pensionable Service * Pension Amount) / 70
- Substitute the values: (15,000 * 34.2 * 4,162) / 70 = Rs. 28,598.57
5. Excel Sheet Calculation:
- Create an Excel sheet with columns for Pensionable Service, Pensionable Salary, Pension Amount, and the calculated Pension.
- Input the respective values and apply the formula to calculate the pension amount.
6. Verification:
- Double-check the calculations to ensure accuracy and verify the final pension amount matches the expected result.
By following these steps and entering the data accurately into an Excel sheet, you can calculate the EPS 95 pension amount based on the provided information.
From India, Gurugram
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