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2870 
Know your Retirement Benefits (BSNL Retirees)

Pension
Pension is admissible to permanent employees who retire with a qualifying service of not less than ten years. Temporary employees who retire on superannuation or invalidation after rendering not less than ten years of service or retire voluntarily after 20 years continuous service are also eligible for pension.

Emoluments for Pension
The emoluments for the purpose of all pensionary benefits (other than gratuity) shall be equal to Basic Pay plus Dearness Pay (whenever applicable).

Amount of Pension
Amount of pension is related to the length of qualifying service and average of ‘emoluments’ drawn during ten months immediately preceding the date of retirement or Last Pay Drawn, whichever is higher. W.e.f. 2-9-2008, full pension is admissible to an employee with qualifying service of not less than twenty years instead of 33 years. The amount of pension will be 50 % of the average emoluments or Last Pay Drawn, whichever is higher. Employees having lesser qualifying service (but not less than ten years) will get pension proportionate to the amount admissible for qualifying service of twenty years/33 years as the case may be.

Example:
Last Pay Drawn = Rs. 12,975.
Qualifying service = 19 years.
Pension for 20 years of qualifying service:
50% of Last Pay Drawn: Rs. 12,975 = Rs 6,487.50
Pension for 19 years of qualifying service
: Rs. 6,487.50 x 19/20 = Rs. 6163.12 = 6164 p.m. (rounded off to the next higher rupee)

Minimum Pension:
The minimum pension shall be 50% of the minimum of the lowest pay scale.

Retirement/Death Gratuity:
(a) Retirement Gratuity is admissible to all employees who retire after completion of 5 years of qualifying service at the rate of ‘one-fourth of emoluments for each completed six monthly period of qualifying service subject to maximum of 16 1/2 times’ the emoluments.

Emoluments for Gratuity:
Emoluments for the purpose of all types of gratuities shall be equal to Basic Pay plus Dearness Pay(wherever applicable) plus IDA (as applicable).

Maximum amount of Gratuity:
W.e.f. 1.1.2006, the maximum amount of gratuity has been raised to 10 lacs from 3.50 lacs.

Example:
Qualifying service = 32 1/2 years or 65 six monthly periods.
Emoluments = Rs. 18150
Gratuity = 18150 x 1/4 x 65 = 294937.50 = Rs. 2,94,938 (rounded off)

(b) Death Gratuity is paid to the family of a Govt. servant who dies while in service, at the rates given below:
Length of qualifying service
Rate of death gratuity

(i) Less than 1 year = 2 times of emoluments.

(ii) One year or more but less than 5 years = 6 times of emoluments.

(iii) 5 years or more but less than 20 years = 12 times of emoluments.

(iv) 20 years or more = Half of emoluments for every completed six-monthly period of qualifying service subject to a maximum of 33 times of emoluments.

Family Pension
Family pension is payable to the family of an employee/pensioner on his death in service/after retirement.

Normal family pension:
The monthly family pension is based on the Basic Pay plus Dearness Pay(wherever applicable) drawn on the date of death or on the date of retirement, as the case may be, and is admissible at a uniform rate of 30% of pay last drawn.

Enhanced Family Pension:
A higher rate of family pension is admissible if the deceased had rendered not less than seven years’ of service. It is payable from the date following the date of death of the pensioner for a period of seven years or up to the date on which he would have attained the age of 67 years had he survived, whichever is less. In case of death while in service, the enhanced family pension will be admissible for a period of ten years without any upper age limit.

Commutation of Pension:
Every pensioner is eligible to commute a portion of his monthly pension for a lump sum payment which is the commuted value of that portion of pension. An employee or pensioner against whom departmental or judicial proceedings are pending is not eligible to commute a portion of his pension till completion of such proceedings.

Amount admissible:- Not exceeding 40% of monthly pension. Any fraction in the amount offered for commutation will be ignored; e.g. if the monthly pension is Rs. 3500 then the maximum amount admissible for commutation is:

Rs. 3500 x 40/100 = 1400 = Rs. 1400 only. Commutation Amount is calculated w.r.t the Commutation factor taken from Commutation Table as relevant to the age next birthday.

The formula for working out the lump sum payable is as follows:

Amount of pension offered for Commutation x 12 x Commutation factor

Example:
Amount of pension offered for Commutation = Rs. 1400
Age next birthday = 61 years
Commutation Factor = 8.194
Lumpsum Payable = 1400x 12 x 8.194 = 137659.20 = Rs. 137660 (rounded off)

The reduction in the amount of pension on commutation will become operative from the date of receipt of the commuted value by the pensioner, or at the end of three months after the issue of authority for payment, whichever is earlier.
The restoration of the commuted portion of pension will be admissible on completion of 15 years, for which the pensioner should apply to the pension disbursing authority i.e., Post office / Bank in the prescribed Performa.

Encashment of Earned leave:
Lump sum cash equivalent of leave salary admissible for the number of days of earned leave at the credit of the employee on the last day of his service, subject to a maximum of 300 days including the number of days for which encashment was availed along with LTC, is granted by the authority competent to sanction leave. The amount of leave encashment payable is worked out in the following manner.

Pay+IDA admissible on the date of cessation of service x No. of days of EL at credit
Example:
Date of Retirement = 31.8.2009
EL at credit = 300 days
Basic Pay = Rs. 15000
IDA = 71% DA = 21%
Lumpsum admissible = (15000+10650)x300/30 = Rs. 256500
 
 
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