* CHRONICLE - PENSIONERS CONVERGE HERE, DISCUSS ISSUES OF THEIR CHOICE * CHRONICLE - WHERE EVEN CHAT COLUMN PRODUCES GREAT DISCUSSIONS * CHRONICLE - WHERE MUSIC IS RISING IN CRESCENDO !

Wednesday, November 04, 2015

Shri RK Chopra's query


Shri R K Chopra, Panchkula, wants to know," Pension after getting commuted value"

Shri S. G. Sreevastava retired as AAO on 1st August, 2012 ( Shri XYZ retired on any day till the revised pay scales are put into place)

His pension as on date is : Rs.'A' after commutation (Average of 50% of ten months of pay + FPA minus commuted amount.) 

He gets DR : Rs. 'B' on the pension before commutation at the admissible rates / as per half yearly slab increase based on CPI. 

His total pension as per 01-08-2007 pay scales : Rs.'A' + Rs.'B'= Rs.'C'

On revision as on 01-08-2012 :

His pay will be re- fixed in the revised pay scale. His new basic pension will be Rs.'A plus' after commutation. (Average of ten months of revised pay + revised FPA).

He will get DR : Rs.'B minus' on his revised pension before commutation. His total pension post revision of pay scales : Rs.' A plus' + Rs.'B minus' = Rs.'C plus most often'.

Shri Sreevastava gets difference in computation amount, gratuity, leave encashment etc. -- some amount of arrears is always welcome

A simple illustration of Shri Sreevastava, AAO ( Retired): stagnation etc. increments, FPA ( old or revised ) are not included. (Please refer to Chart giving difference in pension...posted in PC)

[ Before Revision : Rs.16320 +Rs.18066 DR = Rs.34386 ; After Revision : Rs.31020+Rs.9213 DR=Rs.40233.]

Total Pension after getting (excluding) commuted value of pension.....
Rs.16320 - Rs.5440 (commuted) = Rs.10880 + Rs.18066 DR = Rs. 28946 __ total pension before revision

Rs.31020 - Rs.10340 (commuted) = Rs.20680 + Rs.9213 DR = Rs.29893 __ total pension after revision.

Shri Chopra may work out difference (approximate) in pension that he might get after revision of pay scales. Based on his revised pay fixed as per LIC Employees ( Staff ) Regulations. He must add FPA etc. which have been added / considered for his present basic pension.

SN.