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 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.
Sir,
The above formula 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.
Dharam Pal
From India, New Delhi
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3Sir,
The above formula 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.
Dharam Pal
From India, New Delhi
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