Dear Sir,
With reference to your reply , I would like to Inform that My Pension has increase from Rs645/- per Month to Rs 760/- .
Not to Minimum of Rs 1000/- as declared by Govt.No Intimation about Increase or How the New Fixation has been Done, has been received. If there are some other Calculation Method then I Fail to understand, why Govt. ( Political Leaders) Declare the Minimum Pension of Rs 1000/- when the EP Pension Office has to follow different Rules.
Pl note that I had worked in a PSU for 36 Years and paying my contribution to Fund for 36 Years... and I had been getting Rs 645/ pm for the last 12 years. I had been a big losers because the the Change in Scheme in 1995.
The Value of Money in the Years when I paid the contribution was 10 to 20 times the the Value today.
.
As per the scheme, the Govt is not Paying the Pensioner the due Returns. Pensioner are getting cheated.
Pension Schemes by LIC or other Insurance Schemes are also similar...
I suggest to all Salaried People, not to Depend upon Govt's Pension Schemes and Make the their savings and plan to Develop their Assets / Funds for their Retired Life.
This is my Personal View.... Let the Financial Experts can give their views...
PK Sethi