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COMMUTATION @ 40% on PENSION

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kantaramh's picture
kantaramh
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Joined: 15/02/2014
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Respected Sir:

I don`t have any info regarding "COMMUTATION @ 40% ON PENSION"

So, plz send me complete info.

Thanks.

samy's picture
samy
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Joined: 01/05/2013
Posts:
  • 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.

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