COMMUTATION @ 40% on PENSION
Thu, 20/02/2014 - 11:16
I don`t have any info regarding "COMMUTATION @ 40% ON PENSION"
So, plz send me complete info.
Thu, 20/02/2014 - 11:31#1
- Maximum 40% of the Basic Pension can be commuted.
- Commutation amount = Age factor x 12 x (40% of Basic Pension)
- (No DA/DR is paid on this and hence DR will be paid on the full Pension amount monthly)
- Now for the first 15 years the employee get the remaining amount pension
- After the expiry of 15 years the employee gets full pension.