Pension

Scheme Benefits at a Glance
(i) When a pension becomes payable?
(ii) What determines the quantum of the monthly pension?
(iii) Minimum rates of pension
(iv) Documents to produce when making a claim for Pension
(v) Submission of Life Certificates
(vi) Last Pension Payment

1. When a pension becomes payable?
A pension becomes payable on the death of a contributor. The pension is payable irrespective of whether the contributor dies in service or after leaving the service.
– Where a contributor leaves a surviving spouse , a pension known as a Surviving Spouse’s Pension is paid to the surviving spouse.
– Where a contributor leaves minor children, a pension known as Children’s Pension is paid.
– Note : The board may also approve the payment of children’s pension to a child beyond the age of 18 and not receiving full time education, if the Board is satisfied that there are compassionate grounds for payment of such a pension .

2. What determines the quantum of the monthly pension?
(i) The last salary of the contributor,
(ii) The length of contributory service,
(ii) The Rate of Pension to be used.

What are the Minimum Rates of Pension?
With effect from 01 January 2020, the rate of Minimum Pension Payable is as follows:
– Surviving Spouse’s Pension + Children’s Pension = Rs 5,576.50
– Surviving Spouse’s Pension only = Rs 5,415.00
– Children’s Pension (more than one child) = Rs 5,576.50
– Children’s Pension(one child only) = Rs 5,323.00