Pension Calculation for Rajni
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 the last 60 months or 5 years will be Rs 11,600. Hence, her pension would be (11600 x 10/70) = Rs 1,657 per month.
Pension Calculation Formula
The above formula was received from the website of bemoneyware.com. The EPS pension calculations are after the completion of 20 years. As per my formula above:
60 months average pensionable salary before 1.9.2015 for 50 months on 6500 = 6500 x 50 = 325,000
After 1.9.2015 for 10 months = 15,000 x 10 = 150,000
Total = 475,000
Average for 60 months = 475,000 / 60 = 7916/-
As per the above formula, my pension after 16.11.95 is 7916 x 22/70 = 2487 (including weightage 2 Years) + Past Service before 16.11.95 95 x 4.485 = 426
Total Pension = 2913.00
Sir, please check the above site and advise immediately if my calculation is correct or not.
Regards, Dharam Pal
From India, New Delhi
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 the last 60 months or 5 years will be Rs 11,600. Hence, her pension would be (11600 x 10/70) = Rs 1,657 per month.
Pension Calculation Formula
The above formula was received from the website of bemoneyware.com. The EPS pension calculations are after the completion of 20 years. As per my formula above:
60 months average pensionable salary before 1.9.2015 for 50 months on 6500 = 6500 x 50 = 325,000
After 1.9.2015 for 10 months = 15,000 x 10 = 150,000
Total = 475,000
Average for 60 months = 475,000 / 60 = 7916/-
As per the above formula, my pension after 16.11.95 is 7916 x 22/70 = 2487 (including weightage 2 Years) + Past Service before 16.11.95 95 x 4.485 = 426
Total Pension = 2913.00
Sir, please check the above site and advise immediately if my calculation is correct or not.
Regards, Dharam Pal
From India, New Delhi
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