Dear Abbas,
I give here below the figures of my pension received by me:
Date of Birth 11//7/1944 ; Date of Joining 1/1/1982 ; Date of retirement 11/07/2002 with 6 months breakin the service after 1995
My initial pension Calculation was Past service 85*1.858=157 Current Service 6500*6/70=552; totaling 715 ROC-752 pension recd 643
in 2014,minimum pension 1000; cal was past 157+current 552+adjustment 285=1000-ROC 72= Pension recd 928.
In 2015, after Sup Court order to add 2 years weight-age the cal was past 157+current 743+adjustment 100=1000-ROC 90= Pansion recd 910
J have recd the payment of all pension totaling 1,58,319 till now.
Now recently Supreme court has given the order to do away with the ceiling of 5000 and 6500 and pay the pension of full contribution paid by the employer. Fortunately I have the month -wise details. I have worked out the average pension-able salary.it is 12000 for 12 m averags,11,102 for 36 M av and 10461 for 60 M average. The calculate pension works out to be 1528-153(ROC)=1375 (for 12 m a),1425-143=1282 for 36 m and 1353-135=1218 for 60 m . This looks to be lucrative and opt for it.( The scheme is optional for the member ie he can opt for it and get revised pension or leave with same pension as he gets now) . However, the member has to return the managmet part of contribution (paid to me in sept 2009) received with settlement of pf Contribution.The amount is 52319, it works out to be 105684 with simple interest at12% and 137092 with 12% compound interest
Now my question is should I opt it or not, will it be lucrative to get increased pension considering the interest otherwise recd on 1,37,000 which is required to be returned. secondly they will cosider onlyafterrepayment of our part, it may take little longer time forsettlement and the the consent and form 3A requirement from the employer. Employer may nit do it willinglyy as it requires the 25 years back data
i need your guidance. pl contact me on e mail or my mobile no 9967573871
Thankibng you
I give here below the figures of my pension received by me:
Date of Birth 11//7/1944 ; Date of Joining 1/1/1982 ; Date of retirement 11/07/2002 with 6 months breakin the service after 1995
My initial pension Calculation was Past service 85*1.858=157 Current Service 6500*6/70=552; totaling 715 ROC-752 pension recd 643
in 2014,minimum pension 1000; cal was past 157+current 552+adjustment 285=1000-ROC 72= Pension recd 928.
In 2015, after Sup Court order to add 2 years weight-age the cal was past 157+current 743+adjustment 100=1000-ROC 90= Pansion recd 910
J have recd the payment of all pension totaling 1,58,319 till now.
Now recently Supreme court has given the order to do away with the ceiling of 5000 and 6500 and pay the pension of full contribution paid by the employer. Fortunately I have the month -wise details. I have worked out the average pension-able salary.it is 12000 for 12 m averags,11,102 for 36 M av and 10461 for 60 M average. The calculate pension works out to be 1528-153(ROC)=1375 (for 12 m a),1425-143=1282 for 36 m and 1353-135=1218 for 60 m . This looks to be lucrative and opt for it.( The scheme is optional for the member ie he can opt for it and get revised pension or leave with same pension as he gets now) . However, the member has to return the managmet part of contribution (paid to me in sept 2009) received with settlement of pf Contribution.The amount is 52319, it works out to be 105684 with simple interest at12% and 137092 with 12% compound interest
Now my question is should I opt it or not, will it be lucrative to get increased pension considering the interest otherwise recd on 1,37,000 which is required to be returned. secondly they will cosider onlyafterrepayment of our part, it may take little longer time forsettlement and the the consent and form 3A requirement from the employer. Employer may nit do it willinglyy as it requires the 25 years back data
i need your guidance. pl contact me on e mail or my mobile no 9967573871
Thankibng you