pension details and calculator

SIXTH PAY COMMISSION PENSION CALCULATOR"> SIXTH PAY COMMISSION PENSION CALCULATOR Today, September 11, 2008, 12 hours ago | noreply@blogger.com (CA RAJAN GUPTA) Dear Friends , The sixth pay commission has given pensioner very good increase in their pension ,so general pension fitment multiply factor is 2.26 of basic pension(updated) as per annex attached with the sixth pay commission report Minimum Pension: Commission has recommended a minimum of 3330 rs pension except DA instead of earlier Basic plus DP. But further it has also qualify that basic pension should not be less than 50 % of the initial pay plus grade pay to be fixed corresponding to his old scale in which pensioner has retired basic start corresponding scale . As the govt has now enhanced the minimum basic pay +grade pay to 7000 from 6660 so new basic minimum pension should be 50 % of the basic pay i.e 50 % of 7000=3500 so in my opinion (NOW CONFIRMED)as explained above no pensioner will get less than 3500 basic pay as on 01.01.2006 The fixation as per this table will be subject to the provision that the revised pension, in no case, shall be lower than fifty percent of the sum of the minimum of the pay in the pay band and the grade pay thereon corresponding to the prerevised pay scale from which the pensioner had retired. How to Fix new pension:Maximum of this will be your basic pension 2.26 of (old Basic pen ) 3500 rs(as explained above) 50 % of minimum( Basic + grade pay )of new pay band corresponding to pay scale from which the pensioner retires maximum pension 50% of highest pay i.e 50 % of 90000=45000 basic Maximum Family pension 30% of 90000 i.e 27000. so after calculation as above take maximum figure as your basic pension as on 01.01.2006 and then reduce the amount by commutation amount as earlier deducted from your old pension FILL ONLY TWO YELLOW CELL(SELECT 1-36 CODE FROM ABOVE CHART)LARGE VIEW LARGE VIEW HOW TO USE THIS CALCULATOR OPEN SHEET "DETAIL" IF NOT OPENED BY DEFAULT FILL PAY SCALE CODE, 1-36 ,CORRESPONDING TO YOUR OLD FIFTH PAY SCALE,FROM CHART GIVEN BELOW OR FROM SHEET "CODE LIST" FILL YOUR BASIC PENSION AS ON 01.01.2006 EXCLUDING DP,DA,OR OTHER ALLOWANCE NOTHING ELSE REQUIRED ,CHECK YOUR CALCULATION IF YOUR AGE IS OLD THAN 80 THAN FILL DATE OF BIRTH COLUMN ALSO OTHER LEFT AS IT IS. THIS CALCULATOR WILL BE AVAILABLE FOR DOWNLOAD ON 08.09.2008 for download mail me guptarajin at the rate yahoo.co.in Family pension: Commission has not changed the % and retain the 30 % formula for the Family pension Now widow daughter is also eligible for pension Widow of the pension get family pension after remarriage also on certain conditions Minimum pension IS 3500 In case Normal and family pension both case certain % increase will be given on attaining the given age OTHER FEATURES The Commission recommends that linkage of full pension with 33 years of qualifying service should be dispensed with. Once an employee renders the minimum pensionable service of 20 years, pension should be paid at 50% of the average emoluments received during the past 10 months or the pay last drawn, whichever is more beneficial to the retiring employee. the Commission recommends that the maximum pecuniary limit of Rs.3.5 lakh on payment of gratuity should be raised to Rs.10 lakh. Government employees dying in harness, family pension may be paid at enhanced rates for a period of 10 years. the rates of exgratia may be doubled and raised to Rs.10 lakhs in cases of death occurring due to accidents in the course of performance of duty whether attributable to acts of violence by terrorists, anti-social elements etc. or otherwise and to Rs.15 lakhs in cases of death occurring due to enemy action in international war or border skirmishes or action against militants, terrorists, extremists in the border posts or on account of natural disasters, extreme weather conditions while on duty in the specified high altitude, inaccessible border posts, etc. Commission has recommended payment of pension equal to 50% of the average emoluments/last pay drawn on completion of 20 years of qualifying service. This will ensure that the willing employees leave the Government at a relatively younger age without waiting to complete 28 years of qualifying service that along with the weightage of 5 years, would entitle them for full pension under the extant rules. No further inducement is, therefore, required for employees who have completed 20 years of qualifying service in the Government. The revised pension, in no case, shall be lower than fifty percent of the sum of the minimum of the pay in the pay band and the grade pay thereon corresponding to the prerevised pay scale from which the pensioner had retired. Medical facility extended to the dependent sons, the medical facilities should be continued in respect of dependent daughters irrespective of their age. The Commission, recommends that maximum allowable commutation of pension in case of Commissioned Officers should be increased to 50%. Similar dispensation should also be extended in case of PBORs who are presently allowed to commute 45% of their pension. Military service pay will be counted for fixation of pension The Commission, recommends the following revised rates of ex-gratia for families of Defence Forces personnel who die in harness in the performance of their bonafide official duties:- Click here to tell your friends/colleagues about this