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Thursday, April 07, 2016

Pension commutation


6 Apr 16, 07:22 PM

Ashok shrivastava: Shri Mahadevan Sir,Thank you very much for everything you have done for pensioners. I express heartfelt gratitude.The commuted part of pension is reinstated after 15 years by LICI but in banks after 10 yrs. 

Kindly let me know if we have ever demanded reinstatement of our full pension after 10 yrs like banks.This can be genuinely demanded Sir.Thanks

6 Apr 16, 08:44 PM subbu: Ashok Shrivatsav Sir !  If for 15 yrs value of 1/3rd pension was commuted and availed, it will be restored only after 15 yrs. Pl check up for Banks as to how many years of pension or 1/3rd of it, they are allowed to commute.

7 Apr 16, 06:49 AM Mohan.P: Restoration of 1/3 rd portion of Basic Pension (maximum) is only after 15 years in Banks too.Not 10 years as mentioned by Mr Ashok srivastava