Pension

Scheme Benefits at a Glance

(i)   When a pension becomes payable?

(ii)   What determines the quantum of the monthly pension?

(iii)  Minimum rates of pension

(iv)  Documents to produce when making a claim for pension

(v)  Submission of Life Certificate

(vi)  Last pension payment

1. When a pension becomes payable?

      A monthly pension becomes payable on the death of a contributor. The pension is payable

      irrespective whether the contributor dies in service or after leaving the service

(i)  Where a contributor leaves a surviving spouse, a pension known as a surviving spouse’s

      pension is paid to the surviving spouse

(ii)  Where a contributor leaves minor children, a pension known as children’s pension is paid

       Note: The Board may approve the payment of children’s pension to a child beyond the

       age of 18 and not receiving full time education, if it is satisfied that there are compassionate

       grounds for payment of such a pension.

2. What determines the quantum of the monthly pension?

(i)    The last salary of the contributor and

(ii)   The length of contributory service

(iii)  The Rate of pension to be used

3. What are the minimum rates of pension payable as at 01.01.2011?

    The Minimum Pension Rates payable with effect from 1 January 2012 are as follows:

(i)  Surviving spouse’s pension + Children’s Pension      = Rs 3,838.50

(ii) Surviving spouse’s pension only                                =Rs 3,704

(iii)Children’s Pension (more than one Child)                  =Rs 3,838.50

(iv)Children’s Pension (one Child only)                          =Rs 3,628

    This minimum rate of pension is adjusted in January each year whenever a   compensation

     is approved by Government

4. What documents do you have to produce when making a claim for a.pension?

    On death of a contributor, the following documents need to be produced(Original +Photocopy)

(i)    Birth Certificate and Identity Card of contributor

(ii)   The Birth Certificate and Identity Card of spouse(if applicable)

(iii)   Marriage Certificate

(iv)   Birth Certificate of minor children(if applicable)

(v)    Death Certificate of  contributor

(vi)   Affidavit

(vii)  Evidence of Divorce(if applicable)

(viii) Your Bank Pass Book