Ex: How much pension will Rajni get if she works for 10 years from 1 Sep 2007 and retires on 1 Sep 2017
As Rajni has contributed Rs 1250 per month from 1 Sep 2014, if she retires on 1 Sep 2017, her pensionable salary for last 60 months or 5 years will be Rs 11,600.
hence her pension would be (11600X 10/70) = Rs 1657 per month
The above formula received from website of bemoneyware.com the EPS pension calculation are after completion of 20 years as per my above formula is as under:
60 months average pensionable Salary before 1.9.2015 for 50 months on 6500 = 6500X50 =325000
After 1.9.2015 for 10 months = 15000X10= 150000
Average for 60 months = 475000/60 = 7916/-
As per above formula my pension after 16.11.95 is 7916X22/70 =2487
(including weightage 2 Years)
+ Past Service before 16.11.95 95*4.485 = 426
Total Pension 2913.00
Please Check the above site and my calculation is correct or not advise immediately.
From India, New Delhi
I think pension department is cheating employees by giving pension by bifurcating pension for the period up to 31.08.2014 & post this date. They should allow pension on the basis of last 60 months average salary.
From India, Kolkata
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