Understanding Pension Calculation: How Much Will Our Employee Receive at Retirement?

apawanz

One of our company's employees has completed 10 years of working. As per the pension scheme, he is eligible to receive a pension at the age of 60. My question is, how much will be decided as his pension? Currently, his salary is ₹10,000 per month. Kindly reply.

Thanks in advance.
Regards.

abbasiti

The age to receive a full pension is not 60 years, but 58. If the years of service are 10 and the salary is Rs. 10,000, then the pension will be calculated as follows: 10 x 6500 / 70 = 929.

Regards,
Abbas.P.S

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