Pension Eligibility Checker: Are you a Central government employee? Check if you are eligible
The eligibility for pension, therefore, is related to a government servant appointed in a pensionable establishment on or before December 12, 2003, and retires from government service with a qualifying service of 10 years or more.
Central Government Employee Pension Eligibility Checker: Even as a Central government employee retiring in accordance with the Pension Rules is entitled to receive a pension on completion of at least 10 years of qualifying service, the minimum eligibility period for receipt of a pension is 10 years. According to pensioners' portal, from January 1, 2006, the pension is calculated with reference to emoluments, your last basic pay, or average emoluments-- an average of the basic pay drawn during the last 10 months of the service, whichever is more beneficial.
Notably, the amount of pension is 50 per cent of the emoluments or average emoluments whichever is beneficial. Currently, minimum pension is Rs 9000 per month, while the maximum limit on pension is 50 per cent of the highest pay in the government of India (presently Rs 1,25,000) per month, according to the portal.
The pension is actually payable up to and including the date of death.
The eligibility for pension, therefore, is related to a government servant appointed in a pensionable establishment on or before December 12, 2003, and retires from government service with a qualifying service of 10 years or more.
The department of pensions and pensioners' welfare website (http://persmin.nic.in), which talks about CCS (Pension) Rules 1972, has described Regulation of all types of Amounts of Pensions/Family Pension from Rule No. 49-54, 51A, 55A).
Accordingly, the Rule 49, Section 2 is related to Amount of Pension, which says: "In the case of a Government servant retiring in accordance with the provisions of these rules after completing qualifying service of not less than ten years, the amount of pension shall be calculated at fifty per cent of emoluments or average emoluments, whichever is more beneficial to him, subject to a minimum of three thousand and five hundred rupees per mensem and maximum of forty-five thousand rupees per mensem."
The pension policy rules, therefore, govern pension and gratuity to the employees retiring from Central government civil departments.
Pension and gratuity of the employees retiring from Central government departments is regulated by the Central Civil Services (Pension) Rules, 1972.
Watch this Zee Business video
Notably, there are separate rules regarding pension and gratuity of Railway employees and Defence personnel.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
07:05 PM IST