How is pension revision calculated?
How is pension revision calculated?
1. This amount shall be raised, to arrive at the notional pay of the retiree, by adding the number of increments he/she had earned in that level while in service, at the rate of three percent. Fifty percent of the total amount so arrived at shall be the revised pension.
How is 7th pay pension calculated?
After regular retirement the pension has been calculated under CCS Pension Rules….Examples of New Pension Determination.
| Retired on | 31.05.2015 |
|---|---|
| Final Pay on retirement | 79,000 |
| Old Pension as on 1.1.2016 | 39,500 |
| Revised pension (multiply with 2.57) | 1,01,515 |
| Pay determined on notional basis on 1.1.2016 | 2,05,100 (Level- 15) |
How do I check my PPO status?
Anybody can know the status of any particular PPO by using link “know your status”. Moreover, pensioners have been provided the facility of downloading the copy of PPOs and subsequent amendments issued by CPAO by using login and password after getting themselves registered on CPAO website-www.cpao.nic.in.
What is the formula for calculating pension?
Average Salary * Pensionable Service / 70 where,
- Average Salary means the average of the Basic Salary + DA combined, drawn in the last 12 months, and.
- Pensionable Service means the number of years worked in the organized sector after 15th November, 1995.
What is fitment factor in 7th Pay Commission?
The 7th Pay Commission recommended a common fitment benefit of 2.57 to be applied for all employees.
How do I find my pension PPO number?
The PPO number is required while applying for pension and submitting one’s life certificate or Jeevan Pramaan every year. If a pensioner forgets his or her PPO number, he can either find it by using his bank account number linked to the Employee Provident Fund (EPF) or using his PF number.
